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 2025 in Semester 1 at Caulfield. It needs ETB2111, ETC2420, ETC1010, ETC2410, ETF2121, ETC3440, ETW2001, ETF2020, ETW2510, ETF2100 or ETX2250 and unlocks 4 units.
- Credit points
- 6
- Offered in 2025
- Semester 1
- Caulfield
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2025 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ETF3231
Prerequisites
Pass these before you enrol.
- ETB2111Business data analyticsNo reviews yet
- ETC2420Statistical thinkingNo reviews yet
- ETC1010Introduction to data analysisNo reviews yet
- ETC2410Introductory econometricsNo reviews yet
- ETF2121Data analysis in businessNo reviews yet
- ETC3440Introductory econometricsNo reviews yet
- ETW2001Foundations of data analysis No reviews yet
- ETF2020Statistical foundations of business analyticsNo reviews yet
- ETW2510Introduction to econometricsNo reviews yet
- ETF2100Introductory econometricsNo reviews yet
- ETX2250Data visualisation and analyticsNo reviews yet
Prohibitions
You can't enrol if you have passed any of these.
After ETF3231
4 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 2025
| 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
- Workshops12 hours
- Seminars12 hours
- Tutorials12 hours
- Teaching approachProblem-based learning
- Teaching approachActive learning
- Teaching approachCase-based teaching
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 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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective 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.
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
ETF3231 is part of 3 areas of study in the 2025 handbook.
Contacts
- Chief Examiners
- Professor George Athanasopoulos
Common questions
What are the prerequisites for ETF3231?
You need ETB2111, ETC2420, ETC1010, ETC2410, ETF2121, ETC3440, ETW2001, ETF2020, ETW2510, ETF2100 or ETX2250 before you enrol. Enrolment rules also apply.
What can I take after ETF3231?
ETF3231 is a prerequisite or corequisite for 4 units, including ETF3500, ETF5500, ETX4410 and ETX5441.
When is ETF3231 offered?
In 2025, 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.