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UnitLevel 3Undergraduate

ETC3550 Applied forecasting

Faculty of Business and Economics

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ETC3550 Applied forecasting is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 2 at Clayton. It needs ETC2410, ETC2420, ETC3440, ETF2100, ETF2121, ETC2560, ETW2510, ETX2100 or FIT2086 and unlocks 5 units.

Credit points
6
Offered in 2027
Semester 2
Clayton
Assessment
Exam 60%
and 2 other tasks
Workload
144 hours
per semester

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Requisites

Before ETC3550

Prohibitions

You can't enrol if you have passed any of these.

One of

Prerequisites

Pass these before you enrol.

One of

After ETC3550

5 units list ETC3550 as a prerequisite or corequisite.

Enrolment rules

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level.  You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study.  You should self-assess your maths competency prior to enrolling in this unit.

Equivalent units

The same content under another code. Only one of them counts.

Overview

Business and economic data are collected over time against a backdrop of a changing environment. This unit introduces data wrangling and exploratory data analysis for such temporal context data. You will learn how to analyse, model and forecast time series data in diverse applications. Methods to be covered include the decomposition of time series, exponential smoothing methods, ARIMA modelling, and regression with auto-correlated disturbances. You will enhance your computational skills with exercises using R.

Offerings in 2027

Teaching periodCampusMode
Second semesterClaytonBlended

Assessment

  • Quiz / Test
    10%
  • Written
    30%
  • ExaminationThreshold hurdle
    60%

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Learning outcomes

When you finish this unit, you should be able to:

  1. 1

    understand common statistical methods used in business and economic forecasting

  2. 2

    develop computer skills for forecasting business and economics time series data

  3. 3

    provide insights into the problems of implementing and operating large scale forecasting systems.

Workload and teaching

  • Tutorials12 hours
  • Seminars12 hours
  • Workshops12 hours
  • Teaching approachCase-based teaching
  • Teaching approachActive learning
  • Teaching approachProblem-based learning

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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.

This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.

Learning resources

Technology resources

There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.

Where it fits

ETC3550 is part of 10 areas of study in the 2027 handbook.

Contacts

Chief Examiners
Professor Rob Hyndman

Common questions

What are the prerequisites for ETC3550?

You need ETC2410, ETC2420, ETC3440, ETF2100, ETF2121, ETC2560, ETW2510, ETX2100 or FIT2086 before you enrol. Enrolment rules also apply.

What can I take after ETC3550?

ETC3550 is a prerequisite or corequisite for 5 units, including ETC4500, ETX3500, ETX4410, ETX5441 and ETX5500.

When is ETC3550 offered?

In 2027, ETC3550 runs in Semester 2 at Clayton.

How much work is ETC3550?

The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.

Does ETC3550 have an exam?

Yes. The exam is worth 60% of the final mark, alongside 2 other tasks.

Which majors and minors include ETC3550?

ETC3550 is part of Actuarial studies, Business analytics, Business analytics for economics, Data science and Econometrics, and 2 other areas of study.

More details

Credit points
6
Level
3
Study level
Undergraduate
Faculty
Faculty of Business and Economics
Organisational unit
Department of Econometrics and Business Statistics
Type
Coursework
EFTSL
0.125
Student contribution
SCA Band 1
Study abroad
Available
Handbook years
20202021202220232024202520262027