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UnitLevel 5Postgraduate

ETF5231 Business forecasting

Faculty of Business and Economics

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ETF5231 Business forecasting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 at Caulfield. It needs ETB2111, ETC1010, ETC2410, ETC2420, ETC3440, ETC5242, ETF2100, ETF2121, ETF5910, ETF5912, ETF5930, ETF5952, ETW2001, ETW2510, ETX2250, FIT5197, ETC2560, FIT2086, ETC5256, ETF2020, ETC5510, ETF5202 or ETC5241 and unlocks 2 units.

Credit points
6
Offered in 2027
Semester 1
Caulfield
Assessment
Exam 60%
and 3 other tasks
Workload
144 hours
per semester

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Requisites

Before ETF5231

Prerequisites

Pass these before you enrol.

One of

Prohibitions

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

One of

After ETF5231

2 units list ETF5231 as a prerequisite or corequisite.

Enrolment rules

Where FIT5197 is the prerequisite unit completed, you must have achieved at least a 70% score to undertake 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 2027

Teaching periodCampusMode
First semesterCaulfieldOn campus

Assessment

  • Quiz / Test
    8%
  • Exercise
    2%
  • Project
    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

    develop statistical skills for analysing data in a business environment

  2. 2

    learn how to build accurate and robust models for forecasting

  3. 3

    acquire computer skills vital for forecasting business and economic data

  4. 4

    gain knowledge of the theoretical aspects of the models used.

Workload and teaching

  • Workshops12 hours
  • Tutorials12 hours
  • Seminars12 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

ETF5231 is part of 1 area of study in the 2027 handbook.

Contacts

Chief Examiners
Professor George Athanasopoulos

Common questions

What are the prerequisites for ETF5231?

You need ETB2111, ETC1010, ETC2410, ETC2420, ETC3440, ETC5242, ETF2100, ETF2121, ETF5910, ETF5912, ETF5930, ETF5952, ETW2001, ETW2510, ETX2250, FIT5197, ETC2560, FIT2086, ETC5256, ETF2020, ETC5510, ETF5202 or ETC5241 before you enrol. Enrolment rules also apply.

What can I take after ETF5231?

ETF5231 is a prerequisite or corequisite for 2 units, including ETX5441 and ETX5500.

When is ETF5231 offered?

In 2027, ETF5231 runs in Semester 1 at Caulfield.

How much work is ETF5231?

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

Does ETF5231 have an exam?

Yes. The exam is worth 60% of the final mark, alongside 3 other tasks.

Which majors and minors include ETF5231?

ETF5231 is part of Data analytics for business.

More details

Credit points
6
Level
5
Study level
Postgraduate
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