ETF5231 Business forecasting
Faculty of Business and Economics
ETF5231 Business forecasting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 at Caulfield. It needs ETB2111, ETC2420, ETF2121, ETF5930, ETX2250, ETC3440, ETF5910, ETF5952, FIT5197, ETC1010, ETC5242, ETF5912, ETW2001, ETC2410, ETF2100, ETF5922 or ETW2510 and unlocks 2 units.
- Credit points
- 6
- Offered in 2023
- Semester 1
- Caulfield
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ETF5231
Prerequisites
Pass these before you enrol.
- ETB2111Business data modellingNo reviews yet
- ETC2420Statistical thinkingNo reviews yet
- ETF2121Data analysis in businessNo reviews yet
- ETF5930Financial econometricsNo reviews yet
- ETX2250Data visualisation and analyticsNo reviews yet
- ETC3440Introductory econometricsNo reviews yet
- ETF5910Introductory applied econometricsNo reviews yet
- ETF5952Quantitative methods for risk analysisNo reviews yet
- FIT5197Statistical data modellingNo reviews yet
- ETC1010Introduction to data analysisNo reviews yet
- ETC5242Statistical thinkingNo reviews yet
- ETF5912Data analysis in businessNo reviews yet
- ETW2001Foundations of data analysis and modellingNo reviews yet
- ETC2410Introductory econometricsNo reviews yet
- ETF2100Introductory econometricsNo reviews yet
- ETF5922Data visualisation and analyticsNo reviews yet
- ETW2510Introduction to econometricsNo reviews yet
Prohibitions
You can't enrol if you have passed any of these.
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 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
Assessment
- Within semester assessment40%
- Examination60%
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
- 4
gain knowledge of the theoretical aspects of the models used.
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.
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 2023 handbook.
Contacts
- Chief Examiners
- Professor George Athanasopoulos
Common questions
What are the prerequisites for ETF5231?
You need ETB2111, ETC2420, ETF2121, ETF5930, ETX2250, ETC3440, ETF5910, ETF5952, FIT5197, ETC1010, ETC5242, ETF5912, ETW2001, ETC2410, ETF2100, ETF5922 or ETW2510 before you enrol. Enrolment rules also apply.
What can I take after ETF5231?
ETF5231 is a prerequisite or corequisite for 2 units, including ETC5441 and ETF5500.
When is ETF5231 offered?
In 2023, 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 1 other task.
Which majors and minors include ETF5231?
ETF5231 is part of Financial and risk management.