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10 Credits

Natural Language Processing

The purpose of this course is to introduce students to the theory and practice of applying natural language processing (NLP) in economics and business. We cover all steps in the data science pipeline of transforming textual data into numbers that are relevant for decision making. We assume no prior knowledge concerning specific NLP related subjects and start off with a general introduction to text mining.

After the introduction, we cover the most used unsupervised, such as matrix factorization and topic modelling, and (semi-)supervised, such as document classification, and text mining methods. In addition, the course is designed to enable students to study the principles of constructing linear econometric time series models and how these models can be used in various practical contexts.

​This module can be taken as part of a PG Certificate, PG Diploma or Full Masters Program.

Natural Language Processing
  • 10 Credits
  • 100 hours of study
  • 15 contact hours
  • 85 hours for private study
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Qualifications accredited by Lancaster University
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Buildable Qualifications
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Learn Around
Your Schedule
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World-Class
Faculty
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Fully Online

Structure

Software

Python

Module Programme

Explorative Textual Data Analysis

Session Content
  • Introduction to applications of NLP in economics and management
  • Text as data
  • Cleaning textual data
  • Document feature matrix and word clouds

Categorizing documents

Session Content
  • Unsupervised topic models
  • Supervised document classification

Sentiment analysis

Session Content
  • Definition of sentiment
  • Lexicon-based approaches
  • Improvements

Time series analysis with sentiment

Session Content
  • Sentiment aggregation into time series
  • (Sparse) prediction and forecasting evaluation
  • Introduction to the assignment

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Prerequisites

English Language Requirements

Both Programmes are open to applicants anywhere in the world. We may ask applicants to provide a recognised English language qualification, dependent upon their nationality and where they have studied/worked previously.

 The requirement is an IELTS (Academic) Test with an overall score of at least 6.5, and a minimum of 6.0 in each element of the test. We will also consider other English language qualifications. If their score is below our requirements, they may be eligible for one of Lancaster University's pre-sessional English language programmes.

Academic Requirements

Applicants to the Postgraduate Certificate of Achievement, Postgraduate Certificate, Postgraduate Diploma or full MSc in either programme require either an upper second-class degree in economics, econometrics or related subjects.

Learning Outcomes

Key Skills
  • Relevant natural language programming techniques and their application to a wide range ofempirical issues
  • Integration of natural language programming techniques in econom(etr)ic prediction models
  • Use of the open source statistical software Python for solving NLP problems in economicsand business
Desired Skills
  • Engage in abstract thinking by extracting the essential features of large textual corpora tosolve economic and managerial problem
  • Communicate and present complex arguments in oral and written form with clarity andsuccinctness
  • Present, interpret and analyse information in numerical form
  • Utilise effectively statistical and other packages
  • Work effectively both individually and within a team environment

Frequently Asked Questions

Are the courses within either programme conducted synchronously or asynchronously?

All sessions are conducted live and online at a scheduled time, but are also recorded. Students may attend live and watch the recordings back to recap the material or watch the recordings only if unable to attend live. We always advise students to attend live where possible as this will allow them the best opportunity to engage with the content and ask the lecturer's questions.

Is all examination undertaken online or in-person?

All modules are examined through online coursework submissions, you will have the support of your module lecturer/tutor in this poccess.

Do I need to buy any statistical/econometric software?

No, all necessary software is provided to students.

What do I do if I can't attend a course live?

All courses are recorded and available on the LUMS internet platform throughout the current academic year. They can therefore be viewed 24 hours a day.

A Collaboration Like No Other

Timberlake Consultants and Lancaster University Management School (LUMS) Economics department have a longstanding partnership; combining 40+ years of industry expertise with over 50 years of academic excellence. We are delighted to build on this with our micro-credential postgraduate courses.

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