ECON-UA 370 Quantitative Econ With Python: Lecture 1: Introduction

Exam Introduction Programming Python Installation Jupyter Quick Tests for Python Installation
ECON-UA 370 Quantitative Econ with Python
Lecture 1: Introduction
Zhen Huo [zh335@nyu.edu]

Matthew McKay [mm8390@nyu.edu]
Thomas Sargent [thomas.sargent@nyu.edu]
January 2016
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Introduction to the Course
The aim of this course is to teach Quantitative Economics alongside

the programming language Python.
Some topics in this course include:
• Python Programming Fundamentals
• Linear State Space Models
• Working with Data in Python
• Markov Chains
• The Lake Model of Employment and Unemployment
• ...
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Topic Schedule
Weeks 1-3 Python: Programming Fundamentals

Weeks 4-8 Python: Linear Algebra, Linear State Space Models,
Discrete Markov Chain, and the Lake Model
Week 9 Python: Object Oriented Programming
Week 10 McCall Search Model
Week 11 Python: Data Analysis and Manipulation using Pandas
Week 12 Permanent Income Model
Weeks 13-14 Extension Topics (Asset Pricing, Kalman Filters)
Full syllabus is available on the course GitHub page.
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Course Website
Where do you get lecture slides, course notes, and assignments?
Github1
https://github.com/mmcky/nyu-econ-370
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A great online collaborative tool when working with Git. . . . . . . . . . . . . . . . . . . .
Requirements ...
The requirements for this course are:
• A laptop
• Anaconda Python Distribution
• see Alfred for course prerequisites
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Week 1 Assignment
First Assignment
Install the Anaconda Python distribution (Ready for Thursday Class)
https://www.continuum.io/downloads
Install Guide: install-local-guide.pdf on GitHub
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Demo
Let’s have a look at some of the things you will learn in this course:
1. Constrained Optimization (Demand with a Budget Constraint)

2. Linear Algebra
3. Schelling’s Segregation Model
4. Lake Model
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Additional Slides if Time Permits
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Quick Survey
Who has done some programming before?
Who has used Python before?
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Why Python?
Python is:
1. free
2. a full programming environment
3. easier to learn than some other languages
4. has a large package library
5. has a large community
6. ...
Provides a powerful environment for scientiﬁc research and

computation.
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Python 2.7 or 3.5?

Python 2.7
• Pro
• More packages are available in Python 2.7
• A lot of examples are written in Python 2.7 syntax.
• Con
• In maintenance mode - not getting new features as the language
develops over time.
Python 3.5 (Best default selection)
• Pro
• Newest version which is the long term future of Python
• Most of the scientiﬁc stack has been ported to Python 3
• Con
• Sometimes want to use a library which has not been migrated to
Python 3 yet. (but can make use of conda environments if needed)
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Best way to Learn Programming?
The best way to learn is through practice ...
Start with small programs and then move onto larger applications.
This process is time consuming – but it can also be fun!
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Installation Guides
The following installation guides are available for:
1. Linux2
2. OS X
3. Windows
on the course Github site:

https://github.com/mmcky/nyu-econ-370.git.
Part of Assignment #1 is to setup Anaconda on your own laptops.
2
Ubuntu and its derivatives are the most commonly. Linux Mint is used in the
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installation guide. . . . . . . . . . . . . . . . . . . . .
Jupyter
Jupyter is an excellent interactive environment in the Data Science

community
Learn more here
Jupyter Demo
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Some simple tests
Run these commands in a terminal.
1. Try updating conda by typing: conda update conda

2. Try updating the anaconda library by typing:
conda update anaconda
3. Open IPython Notebook by typing: jupyter notebook . Open a

new notebook and try out a few python examples
4. Install QuantEcon library by typing in a terminal:
pip install quantecon . Next open an Jupyter notebook and
try importing the library using: import quantecon as qe in
one of the code blocks
Note: For Windows systems these should be run in a cmd or

powershell terminal.
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Exam Introduction Programming Python Installation Jupyter Quick Tests for Python Installation

ECON-UA 370 Quantitative Econ with Python

Zhen Huo [zh335@nyu.edu]

Introduction to the Course

The aim of this course is to teach Quantitative Economics alongside

Some topics in this course include:

• Python Programming Fundamentals

• Linear State Space Models

• Working with Data in Python

• The Lake Model of Employment and Unemployment

Weeks 1-3 Python: Programming Fundamentals

Full syllabus is available on the course GitHub page.

Where do you get lecture slides, course notes, and assignments?

The requirements for this course are:

• Anaconda Python Distribution

• see Alfred for course prerequisites

Install the Anaconda Python distribution (Ready for Thursday Class)

Install Guide: install-local-guide.pdf on GitHub

1. Constrained Optimization (Demand with a Budget Constraint)

Additional Slides if Time Permits

Who has done some programming before?

Who has used Python before?

Provides a powerful environment for scientiﬁc research and

Python 2.7 or 3.5?

Python 3.5 (Best default selection)

Best way to Learn Programming?

The best way to learn is through practice ...

This process is time consuming – but it can also be fun!

The following installation guides are available for:

on the course Github site:

Part of Assignment #1 is to setup Anaconda on your own laptops.

Jupyter is an excellent interactive environment in the Data Science

Learn more here

Some simple tests

Run these commands in a terminal.

1. Try updating conda by typing: conda update conda

3. Open IPython Notebook by typing: jupyter notebook . Open a

Note: For Windows systems these should be run in a cmd or

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