Faculty of Business and Economics

Monash University

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.

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6 points, SCA Band 0 (NATIONAL PRIORITY), 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.

FacultyFaculty of Business and Economics
OfferedBerwick Second semester 2012 (Day)
Coordinator(s)Dr Harmindar Nath


The unit aims to introduce the art of forecasting via a modelling approach. It will cover the nature and essentials of forecasting, residual analysis, the moving averages and exponential smoothing forecasting techniques, decomposition methods of forecasting, regression and ARIMA forecasting models. Applications will include areas of accounting, economics, banking, finance, marketing and management. Excel and SPSS will be used.


The learning goals associated with this unit are to:

  1. demonstrate an understanding of the basics of the art of forecasting, recognise limitations of forecasting models and describe the importance of following a pragmatic approach
  2. discuss the importance of the role of graphs, forecast errors and statistics in building a forecast model, and the use of prediction intervals
  3. apply acquired skills and knowledge to forecast economic, business and financial time series using smoothing, decomposition, Regression and ARIMA forecasting techniques with the help of Excel and or SPSS
  4. evaluate competing forecasting models
  5. apply acquired skills in interpreting computer output and report writing.


Within semester assessment: 40%
Examination (2 hours): 60%.

Chief examiner(s)

Mindi Nath

Contact hours

3 hours per week


Students must have passed one of the following: ETG1102, ETW1102, ETX1100 or ETW1000 before undertaking this unit.


ETX3231, ETC2450, MAT3257