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Big data in macroeconomics and finance


12th Kiel Institute Summer School

Kiel, Germany, June 21 – 27, 2018


 The “big data” revolution is shaping business and policymaking around the globe and will also have profound effects on economic research. Large-scale datasets by governments and the private sector as well as rapid advances in computing power offer many new opportunities to analyze economic activity. At the same time, this strand of research remains in its infancy. How can economists take full advantage of “big data”? What are the most promising methods and applications?

This summer school invites leading researchers that use big data and machine learning methods in macroeconomics and finance and has two main aims. First, to teach participants state of the art methods in big data analysis and machine learning and, second, to present how these methods can be applied to address big and relevant economic questions.

In particular, the lecturers will teach:

  • How newest advances in “Nowcasting” help to measure inflation and other macroeconomic variables in real time
  • How text analysis can help to explain monetary policy and its macroeconomic effects
  • How facebook data and social network analysis can help to understand housing markets and borrowing behavior by households
  • How geospatial data can be used to measure GDP growth and economic activity worldwide
  • How Twitter data can be used to study international trade flows

►Download the program

The speakers

Stephen Hansen (Oxford)
Theresa Kuchler (New York)
Michele Modugno (Fed)
Johannes Stroebel (New York)
Adam Storeygard (Tufts)

Application and Fees

The Summer School is targeted at graduate (MA or PhD) students and Post-docs with a strong academic record and a keen interest in policy issues, as well as staff members of policy institutions. The size of the group is limited to 25 participants. The schedule will allow for plenty of opportunities to engage in debates and discuss research ideas with faculty and fellow participants.

The registration fee to attend the summer school is € 720 for graduate students and post-docs and € 1,680 for staff members of policy institutions and all other participants. The fee includes full board (breakfast, lunch, dinner) and accommodation at the nice guest house of the Kiel Institute. Participants need to make their own travel arrangements and cover their travel costs. Accepted participants are required to stay for the entire week.

To apply, please download the application form (Word document) and send the completed form together with your curriculum vitae and an (unofficial) course/grade transcript to All application materials must be received by April 22, 2018.

Previous Summer Schools
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