10 — LLMs

Large language models for economics research.

Machines that write.

This module covers large language models for economics: using LLMs via APIs, structured outputs, prompt engineering, and applications including ECB speech classification and AIPNET.

Lecture slides

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Code

Check the course repository for the R scripts.

Key packages: ellmer, torch

Setup

This module requires an API key. Instructions will be provided during the course. See the setup instructions in module 01 for general setup.

Further resources

• Korinek (2023): Generative AI for Economic Research: Use Cases and Implications for Economists (JEL)
• ellmer package documentation
• Dell (2024): Deep Learning for Economists (NBER Working Paper)
• Anthropic API documentation
• OpenAI API documentation