units

ETC2450

Faculty of Business and Economics

Undergraduate - Unit

This unit entry is for students who completed this unit in 2012 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

print version

6 points, SCA Band 3, 0.125 EFTSL

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

LevelUndergraduate
FacultyFaculty of Business and Economics
OfferedClayton First semester 2012 (Day)
Coordinator(s)Professor Rob Hyndman and Associate Professor Ralph Snyder

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 provides a practical introduction to methods suitable for forecasting in these circumstances including the classical decomposition of time series, exponential smoothing, Box-Jenkins ARIMA modelling, and regression with auto-correlated disturbances. It also provides an introduction to applied multiple regression analysis. Students can expect to enhance their computer skills with exercises using advanced features of Microsoft Excel and an econometrics package.

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 from business and economics time series data
  3. provide insights into the problems of implementing and operating large scale forecasting systems for use in production and services management.

Assessment

Within semester assessment: 40%
Examinations (2 hours): 60%

Chief examiner(s)

Professor Rob Hyndman

Contact hours

4 hours per week

Prerequisites

ETC1000