What are the best Economic tools and software?

1 Data sources

Gathering and analyzing data is a fundamental part of economics. To ensure that you have access to reliable and relevant information on economic indicators like GDP, inflation, unemployment, and trade, it is important to source data from reliable sources. The World Bank Data website is a great source for global development, poverty, inequality, health, education, environment, and more. FRED is a database maintained by the Federal Reserve Bank of St. Louis with over 800,000 time series of economic and financial data from different sources. Lastly, IMF Data is the official website of the International Monetary Fund that offers data on macroeconomic and financial issues like balance of payments and exchange rates.

2 Software packages

Economics also involves the use of software packages to perform statistical and econometric analysis, create models and simulations, and visualize and present results. Stata is a powerful and user-friendly software that can handle large datasets, perform a range of statistical techniques, and generate high-quality graphs. R is a free, open-source software used by economists for data manipulation, analysis, and visualization. MATLAB specializes in numerical computing, matrix operations, and programming; it is especially useful for creating economic models such as optimization, game theory, and dynamic systems.

3 Online courses

If you are looking to learn economics from the ground up or improve your current knowledge and skills, online courses provide a flexible and affordable option. These courses can help you gain a strong foundation, explore specific topics, or prepare for exams and certifications. Examples of some of the best online courses for economics include Principles of Economics from MIT OpenCourseWare, Introduction to Econometrics from edX, and Game Theory from Coursera. Each of these courses covers different aspects of economics such as supply and demand, market structures, economic growth, game theory, econometrics, and more. In addition to these courses, there are many other resources available that can meet your needs and preferences. Ultimately, it is important to find the resources that work best for you and use them consistently and effectively.

4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?