ETF3231 Business forecasting
Faculty of Business and Economics
ETF3231 Business forecasting is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2022 in Semester 1 at Caulfield. It needs ETC2410, ETF2100, ETX2250, ETC2420, ETF2121, ETC3440, ETW2001, ETC1010, ETF2020, ETW2510 or ETB2111 and unlocks 3 units.
- Credit points
- 6
- Offered in 2022
- Semester 1
- Caulfield
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2022 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ETF3231
Prohibitions
You can't enrol if you have passed any of these.
Prerequisites
Pass these before you enrol.
- ETC2410Introductory econometricsNo reviews yet
- ETF2100Introductory econometricsNo reviews yet
- ETX2250Data visualisation and analyticsNo reviews yet
- ETC2420Statistical thinkingNo reviews yet
- ETF2121Data analysis in businessNo reviews yet
- ETC3440Introductory econometricsNo reviews yet
- ETW2001Foundations of data analysis and modellingNo reviews yet
- ETC1010Introduction to data analysisNo reviews yet
- ETF2020Statistical foundations of business analyticsNo reviews yet
- ETW2510Introduction to econometricsNo reviews yet
- ETB2111Business data modellingNo reviews yet
After ETF3231
3 units list ETF3231 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 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
Forecasts are crucial for guiding the planning and decision making process in business. In this unit you will learn to apply reliable methods for generating accurate forecasts in a rapidly changing business environment. These include: an introduction to regression modelling from a forecasting perspective, classical decomposition, exponential smoothing, Box-Jenkins ARIMA modelling and judgemental forecasting. You will build your programming skills by learning to program in R, a free programming language for statistical computing.
Offerings in 2022
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
develop statistical skills for analysing data in a business environment
- 2
learn how to build accurate and robust models for forecasting
- 3
acquire computer skills vital for forecasting business and economic data.
Workload and teaching
- Lectures24 hours
- Tutorials18 hours
- Teaching approachActive 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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Where it fits
ETF3231 is part of 3 areas of study in the 2022 handbook.
Contacts
- Chief Examiners
- Professor George Athanasopoulos
Common questions
What are the prerequisites for ETF3231?
You need ETC2410, ETF2100, ETX2250, ETC2420, ETF2121, ETC3440, ETW2001, ETC1010, ETF2020, ETW2510 or ETB2111 before you enrol. Enrolment rules also apply.
What can I take after ETF3231?
ETF3231 is a prerequisite or corequisite for 3 units, including ETC5441, ETF3500 and ETF5500.
When is ETF3231 offered?
In 2022, ETF3231 runs in Semester 1 at Caulfield.
How much work is ETF3231?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETF3231 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.
Which majors and minors include ETF3231?
ETF3231 is part of Business analytics and statistics; and Financial econometrics.