ETC3550 - Applied forecasting for business and economics - 2019

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Faculty

Business and Economics

Organisational Unit

Department of Econometrics and Business Statistics

Chief examiner(s)

Professor Rob Hyndman

Coordinator(s)

Professor Rob Hyndman

Unit guides

Offered

Clayton

  • First semester 2019 (On-campus)

Prerequisites

ETC2410, ETC2420, ETC3440Not offered in 2019 or equivalent.

Prohibitions

ETC2450Not offered in 2019

Synopsis

Reliable forecasts of business and economic variables must often be obtained against a backdrop of structural change in markets and the economy. This unit introduces methods suitable for forecasting in these circumstances including the decomposition of time series, exponential smoothing methods, ARIMA modelling, and regression with auto-correlated disturbances. Students can expect to enhance their computer skills with exercises using R.

Outcomes

The learning goals associated with this unit are to:

  1. provide an understanding of common statistical methods used in business and economic forecasting
  2. develop computer skills for forecasting business and economics time series data
  3. provide insights into the problems of implementing and operating large scale forecasting systems.

Assessment

Within semester assessment: 40% + Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information