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Using Python and Google Colab to teach undergraduate microeconomic theory

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  • Kuroki, Masanori

Abstract

The author describes how to use the Python programming language to teach topics in a microeconomic theory course at the undergraduate level. Specifically, the author describes how to use Python to solve optimization problems, such as utility maximization and profit maximization. Python is free and open-source and becoming increasingly popular both in economics and in business. To focus on solving optimization problems and to avoid installation issues, the author utilizes Google Colab, which allows users to type Python code on a web browser. Program code is provided for every example to encourage replication and experimentation. The author aims to (1) provide an option to instructors who are interested in supplementing the traditional pencil-and-paper approach with technology at no cost, and (2) help students become comfortable with a programming language that is widely used in tech companies and data analysis.

Suggested Citation

  • Kuroki, Masanori, 2021. "Using Python and Google Colab to teach undergraduate microeconomic theory," International Review of Economics Education, Elsevier, vol. 38(C).
    • Handle: RePEc:eee:ireced:v:38:y:2021:i:c:s1477388021000177
    DOI: 10.1016/j.iree.2021.100225
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    References listed on IDEAS

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    1. Susan Athey & Michael Luca, 2019. "Economists (and Economics) in Tech Companies," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 209-230, Winter.
    2. Tomas Dvorak & Simon D. Halliday & Michael O’Hara & Aaron Swoboda, 2019. "Efficient empiricism: Streamlining teaching, research, and learning in empirical courses," The Journal of Economic Education, Taylor & Francis Journals, vol. 50(3), pages 242-257, July.
    3. Joachim Zietz, 2007. "Dynamic Programming: An Introduction by Example," The Journal of Economic Education, Taylor & Francis Journals, vol. 38(2), pages 165-186, April.
    4. Steven Batt & Tara Grealis & Oskar Harmon & Paul Tomolonis, 2020. "Learning Tableau: A data visualization tool," The Journal of Economic Education, Taylor & Francis Journals, vol. 51(3-4), pages 317-328, August.
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    More about this item

    Keywords

    Python; Programming; Microeconomics; Quantitative economics; Teaching;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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