Accounting probably would not count among the more glamorous of professions. The reasons for that status and whether it is justified are beyond the scope of this brief commentary. What we argue though in this blog post is that the relative attractiveness of accounting is arguably improving in recent times as indicated by developments in quite disparate areas.

Enjoy!

The economy is a complex tangle of various agents that interact via transactions (sales and purchases) and contracts (lending, investing). In recent times more and more techniques from graph theory and network science are brought to bear on economic analysis. On the other hand, ever since the seminal contributions of Leontief, Input-Output Models (IO) have been widely used to describe economic relationships between economic actors (e.g. industrial sectors) operating within and between regions. IO models are central tools of Input-Output Analysis which aims to answer fundamental economic questions such as: what level of production outputs is required by industrial sectors (interacting in complex supply chains) if there is specific change in demand by consumers.

How are IO models related to Graph Theory? In this post we explore this relationship in some detail and show that both conceptually and practically it is a connection that it is useful to be aware of.

Dear Academy users,

this week is Open Education Week, so a great occasion to launch a new open course! The new course (Course ID: SFI32064, Introduction to Input-Output Models using Python) is a DeepDive format with nine segments, exploring Input-Output models using Python and the pymrio library.

The course is at a core technical level. It requires working familiarity with python, basic linear algebra and some elements of economic theory. Step by step we explore how one can define and perform useful operations in Environmentally Extended Input-Output Analysis.

This course is the first installment of a series dedicated to EEIO models that are receiving a lot of attention as analytical tools to support the sustainability transition. The focus in this first course is on familiarization with the python environment (and the pymrio package in particular) and understanding the general structure and abilities of such models. Specifically:

• We get exposed to the concept and structure of Input-Output Models
• We create a variety of stylized IO models in Python
• We perform basic IO related workflows as those are facilitated by the pymrio package

More in-depth discussion of economic and mathematical aspects of EEIO models is given in the seminal Miller Blair Book, which is recommended reading. The material we cover in this course is contained mostly in Chapter 2 of that book (Foundations of Input–Output Analysis)

Enjoy!