AI and Quantitative Economics
If you like math and data—and you want to use AI to predict economic outcomes and help people—you’ve found the perfect match. In this one-of-a-kind program, you’ll combine your interests in economics, AI and data science to work on real-world problems. (Simply put, “quantitative” economics means using models and data to understand and anticipate results). Now, imagine your future using AI to support business decisions, improve the impact of public schools or distribute food to communities in need. Sound like something you’d enjoy? Then put this major at the top of your list.
What will I learn?
In this program, you’ll learn about the technical aspects of AI and how it’s transforming society, how to use AI tools to analyze economic data, and the best ways to share your insights. You’ll start by learning about the properties of data, different types of AI platforms (including their biases and ethical implications), and how AI tools can be built by society, for society. You’ll study macro and microeconomics, how AI affects economic policymaking, and econometrics (how to use data and statistics to find solutions). Finally, you’ll choose a series of economics electives based on your interests in finance, the environment, health or other topics—and take a capstone course where you bring together everything you’ve learned and apply it to address a specific problem.
UB: A Leader in AI
- Home to Empire AI, a statewide hub for addressing societal challenges through AI.
- Home to National AI Institute funded by the National Science Foundation.
- More than 400 researchers involved with AI.
- Multiple institutes and centers focused on AI applications.
- Other degree programs like this one create a community of students focused on the study of AI for the social good.
What can I do with an AI and Quantitative Economics degree?
Whether you want to predict the stock market, improve the job market or lower prices at the supermarket, economics can be applied to nearly every aspect of our lives—which means it’s really up to you how you use your talents.
Policy, developing monetary guidelines, finding ways to lower poverty rates, or working on new regulations for equitable AI.
Finance and fintech (financial technology), implementing AI to improve fraud detection, minimize financial risk, or improve access to cryptocurrency and blockchains.
Environmental economics, modeling the cost of climate change or calculating the return on investment (ROI) for sustainability projects.
Business, using AI to create more accurate pricing models, predict consumer behavior and forecast product demand.
Graduate school, getting an advanced degree in economics, finance, machine learning or AI.
By the Numbers
Check out salary ranges and career outlooks straight from the U.S. Department of Labor to see the return on investment for your degree.
| Occupation Title | Mean Annual Wage | Mean Hourly Wage | Future Outlook |
|---|---|---|---|
| Computer and Information Research Scientists | $152,310.00 | $73.23 | Rapid Growth |
| Software Developers | $144,570.00 | $69.50 | Rapid Growth, Many Openings |
| Data Scientists | $124,590.00 | $59.90 | Rapid Growth |
| Computer Science Teachers, Postsecondary | $105,830.00 | N/A | Rapid Growth |
Data provided by the United States Department of Labor (DOL) and O*NET. DOL data from 2024.