Course Title: Business Forecasting Methods
Part A: Course Overview
Course Title: Business Forecasting Methods
Credit Points: 12.00
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ECON1069 |
City Campus |
Undergraduate |
625H Economics, Finance and Marketing |
Face-to-Face |
Sem 2 2006, Sem 2 2007, Sem 2 2008, Sem 2 2009, Sem 2 2010 |
ECON1186 |
City Campus |
Postgraduate |
625H Economics, Finance and Marketing |
Face-to-Face |
Sem 2 2006 |
Course Coordinator: Dr. Ashton De Silva
Course Coordinator Phone: +61 3 9925 1313
Course Coordinator Email: ashton.desilva@rmit.edu.au
Course Coordinator Location: 108.12
Pre-requisite Courses and Assumed Knowledge and Capabilities
ECON1030 Business Statistics 1 Or OMGT1117 Property Data Analysis
Course Description
The basic aim of this course is to introduce you to the Time Series methods and the elementary Econometric methods that are used by practitioners to obtain forecasts of important decision variables such as cash flows, earnings, interest rates, exchange rates, share prices and costs. You will be shown how to use the EViews package to evaluate these forecasts. The quantitative techniques that are discussed in this course include Naive methods, Smoothing techniques, the Box-Jenkins approach and basic Regression methods.
Objectives/Learning Outcomes/Capability Development
Capabilities
At the conclusion of this course, you should be able to:
1. Discuss the key factors which affect the success of forecasting procedures.
2. Use Basic Statistical Techniques and statistical Graphics to forecast values.
3. Understand the key concepts needed to use the Linear Regression model when forecasting.
4. Use EViews to perform the key operations needed to obtain Descriptive Statistics and Regression Analysis.
5. Model and Forecast the different possible Trend components of a set of values.
6. Use the World Wide Web to obtain information on forecasting methods and useful data to be used when forecasting
7. Find different sets of Smoothed or Average values to be used when forecasting.
8. Model and Forecast the Seasonal component of a set of values.
9. Model the different types of Cyclical behaviour observed in different sets of values.
10. Understand and use the Box-Jenkins or ARMA Procedure.
11. Combine the Trend, Seasonal and Cyclical components to produce a more accurate forecast of a set of values.
Overview of Learning Activities
To achieve the objectives listed above this course reqires you to participate in various learning activities. These include the following:
attendance at and notetaking at scheduled lectures
rading of and notetaking from prescribed and recommended text books and other references
completion of demonstration lecture questions
Overview of Learning Resources
Lecture notes
Text book
DLS
Overview of Assessment
Assignments
End-of-semester examination paper