Faculty of Business and Economics

Monash University

Undergraduate - Unit

This unit entry is for students who completed this unit in 2015 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.

FacultyFaculty of Business and Economics
Organisational UnitDepartment of Econometrics and Business Statistics
OfferedMalaysia First semester 2015 (Day)
Malaysia Second semester 2015 (Day)
Coordinator(s)Dr Jason Ng Wei Jian


Topics include fundamentals of forecasting, univariate and multivariate forecasting tools. The univariate forecasting tools include moving averages, exponential smoothing forecasting, seasonal decomposition, review of basic time series analysis and Box-Jenkins (ARIMA) models. Econometric approaches to multivariate forecasting include regression models, modelling and forecasting with ARIMA processes and evaluation of forecasts. Introduction to qualitative forecasting methods including technological forecasting methods. Excel, SPSS and EViews will be used.


The learning goals associated with this unit are to:

  1. recognise typical forecasting problems in business and economics
  2. understand and appreciate statistical underpinning and foundation of forecasting techniques
  3. be familiar with the various tools used in forecasting and to be able to apply these techniques appropriately and recognise the strengths and weaknesses of the techniques used
  4. have an appreciation of forecasting in practice
  5. develop quantitative research skills and ability in interpreting computer output and to be able to write and present reports effectively.


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

Chief examiner(s)



ETC2450, ETX3231, ETW3232