ETC5550 Applied forecasting
Faculty of Business and Economics
ETC5550 Applied forecasting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2021 in Semester 1 at Clayton. It needs ETC5242 and unlocks 1 unit.
- Credit points
- 6
- Offered in 2021
- Semester 1
- Clayton
- Assessment
- No exam
- 1 task
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2027 entry.
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Requisites
Before ETC5550
Prohibitions
You can't enrol if you have passed any of these.
Prerequisites
Pass these before you enrol.
After ETC5550
1 unit list ETC5550 as a prerequisite or corequisite.
Equivalent units
The same content under another code. Only one of them counts.
Overview
Reliable forecasts of business and economic variables must often be obtained against a backdrop of structural change in markets and the economy. This unit introduces methods suitable for forecasting in these circumstances including the decomposition of time series, exponential smoothing methods, ARIMA modelling, and regression with autocorrelated disturbances. You can expect to enhance their computer skills with exercises using R.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
Assessment
- Within semester assessment100%
Learning outcomes
When you finish this unit, you should be able to:
- 1
provide an understanding of common statistical methods used in business and economic forecasting
- 2
develop computer skills for forecasting business and economics time series data
- 3
provide insights into the problems of implementing and operating large scale forecasting systems.
Workload and teaching
- Tutorials24 hours
- Lectures24 hours
- Teaching approachOnline 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. 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.
Learning resources
Required resources
Hyndman, R.J., & Athanasopoulos, G. (2019) Forecasting: principles and practice, 3rd edition, OTexts: Melbourne. Available online: OTexts.com/fpp3.
Technology resources
Open-source software: R, RStudio.
Contacts
- Chief Examiners
- Professor Rob Hyndman
Common questions
What are the prerequisites for ETC5550?
You need ETC5242 before you enrol.
What can I take after ETC5550?
ETC5550 is a prerequisite or corequisite for 1 unit, including ETF5500.
When is ETC5550 offered?
In 2021, ETC5550 runs in Semester 1 at Clayton.
How much work is ETC5550?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC5550 have an exam?
No. ETC5550 has 1 assessment task and no exam.