Introduction to Python for Econometrics, Statistics  and  Data Analysis

Introduction to Python for Econometrics, Statistics and Data Analysis

Sep 09, 2021

Python is a popular general purpose programming language which is well suited to a wide range of problems.1 Recent developments have extended Python’s range of applicability to econometrics, statistics and general numerical analysis. Python – with the right set of add-ons – is comparable to domain-specific languages such as R, MATLAB or Julia. If you are wondering whether you should bother with Python (or
another language), a very incomplete list of considerations includes:
You might want to consider R if:
• You want to apply statistical methods. The statistics library of R is second to none, and R is clearly
at the forefront in new statistical algorithm development – meaning you are most likely to find that
new(ish) procedure in R.
• Performance is of secondary importance.
• Free is important.



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