Applied forecasting for business and economics
Associate Professor Ralph Snyder and Associate Professor Merran Evans
6 points
* Two 1-hour lectures and one 2-hour tutorial per week
*
First semester
* Clayton
* Prerequisite: ECM1031 with pass or ECM1032
with credit
Objectives On the successful completion of this subject students will possess an understanding of common statistical methods used in business and economic forecasting; the skills required to utilise a typical computer forecasting package; and insights into the problems of implementing operational forecasting systems in business.
Synopsis Exponential smoothing and associated methods; multiple regression analysis; Box-Jenkins approach to forecasting; operational forecasting systems for business; Monte Carlo simulation methods in forecasting, the use of Microsoft Excel and a statistics package for forecasting.
Assessment Written (2 assignments [computing and report]): 40%
*
Examinations (2 hours): 60%
Recommended texts
Makridakis S and others Forecasting: Methods and applications Wiley, 1983
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