units
ETW3420
Faculty of Business and Economics
This unit entry is for students who completed this unit in 2016 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.
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.
Faculty
Organisational Unit
Department of Econometrics and Business Statistics
Coordinator(s)
Offered
- Second semester 2016 (Day)
Synopsis
Obtaining reliable forecasts of business and economic variables is a challenging task that organisations face. This challenge is exacerbated against the backdrop of structural changes and volatility in markets and the economy. In this unit, students will be introduced to methods suitable for forecasting in these circumstances. These methods include classical decomposition of time series, exponential smoothing, Box-Jenkins ARIMA modelling and regression with auto-correlated disturbances. Students will also be exposed to several case studies, to study the application of these methods in real-life situations. Students can expect to enhance their computer skills with exercises using econometric packages.
Outcomes
The learning goals associated with this unit are to:
- Motivate the need for obtaining reliable forecasts in business and economics
- Understand and apply appropriate statistical methods for business and economic forecasting
- Develop computer skills for forecasting from business and economic time series data
- Develop research skills and be able to write and present reports effectively.
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
Chief examiner(s)
Prerequisites
Prohibitions
On our site
Authorised by: Manager, Curriculum and Publications.
Maintained by: Curriculumn and Publications.
Last updated: 18 September 2017.
Copyright © 2024 Monash University. ABN 12 377 614 012 -
Accessibility -
Caution -
Privacy
Monash University CRICOS Provider Number: 00008C, Monash College CRICOS Provider
Number: 01857J
We acknowledge and pay respects to the Elders and Traditional Owners of the land on which our Australian campuses stand. Information for Indigenous Australians