The module deals with basic and advanced models and methods from data science/ machine learning/ deep learning/ natural language processing. Students learn to apply modern methods of artificial intelligence. The focus is on applications of the methods in the field of Economics. Using the programming language Python, numerical datasets and text data are analysed and machine learning/ deep learning models are developed. Students learn among others about the complexity of models, bias-variance trade-off, regularisation, supervised learning, regression, classification, logistic regression, decision trees, random forests, model evaluation, unsupervised learning, k-means clustering, principal component analysis, deep learning/ neural networks, text data analyses/ natural language processing (NLP).