Mahatma Gandhi University
Kottayam
Programme BA (Hons) Economics
Course
Data Analysis for Economics using Python
Name
Type of
DSE
Course
Course
MG5DSEECO300
Code
Course
300-399
Level
This course is designed to provide students with fundamental data analysis skills in the
field economics. Covering statistical methods and quantitative tools, it emphasizes hands-
on applications such as data exploration, visualization, and interpretation. Students will
learn to model economic trends, make predictions, and extract meaningful insights from
Course datasets. The course equips them to contribute effectively to economic decision-making,
Summary market research, and policy formulation in an increasingly data-centric environment. As
per the course structure, allocation for practical has not been provided as it was not able
to provide practical/practicum for DSE courses for this semester. But, the content in this
course have to be engaged with lab support and most importantly, assessment also
includes practical component.
Semester 5 Credits 4
Total
Practical / Hours
Lecture Tutorial Others
Course Learning Practicum
Details Approach
4 60
Pre- Attempting Economic Analytics -I is a prerequisite for this course. at least 50% of the
requisites, if classes should be engaged with the support of computer lab. A five day workshop is to be
any arranged for the teachers before launching the course.
COURSE OUTCOMES (CO)
CO Expected Course Outcome Learning
PO No
No. Upon completion of this course, the students will be able to: Domains *
understand some fundamental programming tools that can be used
1 U 1, 2, 3
for economic data analysis.
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2, 3, 9.
2 analyse economic data using the techniques learnt in this course An
10
evaluate the specific problem and apply relevant tools for the 2, 3, 9.
3 E
particular dataset 10
create simple analytical models making use of Python 2, 3, 9.
4 C
. 10
*Remember (K), Understand (U), Apply (A), Analyse (An), Evaluate (E), Create (C), Skill (S), Interest
(I) and Appreciation (Ap)
COURSE CONTENT
Content for Classroom Transactions (Units)
CO
Module Units Course description Hrs
No.
1 Introduction to programming for economic analysis 15
Economics and Programming: Importance of programming in
1.1 Economics- Introduction to Excel, SAS, SPSS, EViews, Gretl, Stata, 5 1
R and Python Software.
Introduction to Python : Setting Up the Python-installing Python-
1.2 Uses of Integrated Development Environments- IDLE, Jupyter, 5 2
PyCharm , Spyder, Visual Studio Code and Atom.
Economic variables in Python Syntax: Variable types, lists, tuples,
1.3 2 3
sets, dictionaries.
Basic computation and Structuring Objects: lists , tuple, sets,
1.4 3 3
strings and dictionary methods.
Practical
1. Setting up of the python environment. 3
2. Using Python for basic economic computation
2 Python syntax and objects 15
Control Flow statements in Python: Conditional Statements-IF ,
2.1 ELIF and ELSE , Iteration statements-for and while, Break 5 3
statements.
Python functions in Economics : Importance, Inbuilt functions-user
2.2 defined functions- function rules. 3 3, 4
2.3 OOP in Python: Creating python objects-methods-building classes. 3 3, 4
Introduction to Libraries: NumPy, Pandas, Scipy, Scikit leran,
2.4 statsmodels-Methods for importing modules. 4 3, 4
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Practical
1. Using Control flow statements in economic scenarios. 3, 4
2. Creating Economic functions in python.
3 Quantitative Economics in Python 15
Quantitative Economics using Python I: Linear Algebra-vectors-
3.1 3 3
matrices-Linear equations-Eigen vectors ad Eigen value.
Economic Data visualisation in Python: Introduction to visualisation
3.2 libraries- matplotlib- Bar graph, Line graph , Scatter plot, pie chart. 5 4
Quantitative Economics using Python II: Introduction to Probability-
3.3 4
mean-variance- Data distributions-use of random module.
Drawing Economic graphs using Python-Demand and Supply
3.4 3 3, 4
Curves-Costs Curves-other curves.
Practical: Visualising Economic concepts using python 3, 4
4 Data Handling 15
Data and Python: Data extraction - Different Data file formats-
4.1 3 3, 4
CSV, Doc , text and PDF file extraction.
Data Handling in Python: Data cleaning approaches -qualitative and
4.2 4 3, 4
quantitative-Introduction to Database management systems.
Working with Pandas DataFrame: Exploring Data- count, binning,
. 4.3 minimum, maximum, mean, variance and sd- Inclusion and 5 3, 4
Exclusion of Columns.
Modelling in Python- Libraries for Regression – Implementing
4.4 3 3, 4
Economic Models-Growth Models.
Practica 1. Handling of missing data and outliers.
l 3, 4
2. Regression Analysis using Python.
5 Teacher Specific Module
Classroom Procedure (Mode of transaction)
Teaching Classroom Lectures and Authentic Learning: Traditional lectures can provide the basics
and of data analysis.
Learning Practical session should be conducted for familiarising the various data analytic
Approach techniques.
Suggested Course Delivery Methods
• CD1 - Lecture by use of boards/LCD projectors/ Projectors etc.
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• CD2 - Tutorials/Assignments
• CD3 - Peer teaching
• CD4 – Lab sessions
MODE OF ASSESSMENT
I. Theory – 75 marks (A. Continuous Comprehensive Assessment (CCA): 25 marks, B.
End Semester Exam (ESE): 50 marks).
A. Continuous Comprehensive Assessment (CCA): 25 marks.
A. Continuous Comprehensive Assessment (CCA)
Components
Marks
Industry Expert Interaction Report, Industry Project Collaboration Report,
Hackathon Report, Prototyping of a Data Analysis solution, Lab based 25
exercises, Presentation/Seminar, Industry Visit Report, Mini project.
Total Marks
25
B. End Semester Examination (ESE): 50 marks; Time 1 hour and 30 minutes.
End Semester Examination (ESE) 1 Hour and 30 minutes
Assessment
Types Descriptive type Word Limit Number of questions to Marks
be answered
Short Answer 30 words 10 out of 15 10 x 2 =20
Short Essay 150 words 6 out of 10 6 x 5 = 30
Total Marks 50
II. Practical Examination: 50 marks (A. Continuous Comprehensive Assessment
(CCA): 15 marks, B. End Semester Examination (ESE): 35 marks).
A. Continuous Comprehensive Assessment (CCA): 15 marks.
A. Continuous Comprehensive Assessment (CCA)
Components
Marks
Lab based exercises, Mini Project, Industry Visit Report, Analysis with
Sample data. 15
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Total Marks
15
B. End Semester Examination (ESE): 35 marks (1hour)
End Semester Examination (ESE)
Type Marks
Lab based test 35
Total Marks 35
Reference
1. Python for Data Analysis: Data Wrangling with pandas, NumPy, and Jupyter, Third Edition
(Grayscale Indian Edition), Wes McKinney, Shroff/O'Reilly, 2022.
2. Fluent Python: Clear, Concise, and Effective Programming, Second Edition (Grayscale Indian
Edition) Paperback, Luciano Ramalho, Shroff/O'Reilly2022.
3. Learn Python Quickly: A Complete Beginner's Guide to Learning Python, Even If You're New to
Programming, Code Quicky, 2020.
4. Python for Everybody: Exploring Data in Python 3, Charles Severance, Shroff Publishers
5. Data Analysis with Python: Introducing NumPy, Pandas, Matplotlib, and Essential Elements of
Python Programming, Rituraj Dixit, 2022.
6. Python Data Analysis: Perform data collection, data processing, wrangling, visualization, and model
building using Python, 3rd Edition, Avinash Navlani , Armando Fandango , et al., February 2021.
7. Data Analysis Using Python by Dr. Samitha Khaiyum, Prof. Rakshitha Kiran P, Good Writers
Publishing, 2023.
8. Mastering Power BI, Chandraish Sinha, 2021.
9. Power Query for Power BI and Excel, Christopher Webb and Crossjoin Consulting Limited, Apress,
2014.
10. Power BI Data Modeling: Build Interactive Visualizations, Learn DAX, Power Query, and Develop
BI Models, Nisal Mihiranga, 2022.
11. Microsoft Power BI Complete Reference: Bring your data to life with the powerful features of
Microsoft Power BI, Devin Knight , Brian Knight, et al., Packt Publishing Limited, 2018.
12. Learning Microsoft Power BI: Transforming Data into Insights (Grayscale Indian Edition), Jeremey
Arnold, Shroff/O'Reilly, 2022.
.Suggested Readings:
1. Practical Data Science with Jupyter, Prateek Gupta, 2021.
2. Power BI for Jobseekers: Learn how to create interactive dashboards and reports, and gain insights
from the data, Alan Murray, 2023.
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