EMET8012 Business and Economic Forecasting
| Offered By | School of Economics |
|---|---|
| Academic Career | Graduate Coursework |
| Course Subject | Econometrics |
| Offered in | Second Semester, 2010 and Second Semester, 2011 |
| Unit Value | 6 units |
| Course Description |
Accurate forecasting of future events and their outcomes is a crucial input into a successful business or economic planning process. This course provides an introduction to the application of various forecasting techniques. The methods include trend curve extrapolation, smoothing, autoregressions, regression modelling, leading indicators. The course also looks at techniques for the evaluation of performance of forecasting methods and examines the role of forecasts in the decision making process. Students will learn how to use the various techniques in real world forecasting applications. |
| Learning Outcomes |
Objectives and plan: The main objective of this course is to prepare you for one of the important tasks that you may be asked to perform as an economist with quantitative skills/econometrician or a statistician. The course is developed in the context of real world forecasting applications. In one application, you are asked to forecast three key economic indicators for several countries for the next .ve years for a web based international investment consultants. In another, you are asked to forecast electricity load at every hour of the next day for an operations manager of a power company. In the .nal application, you are asked to forecast short-term visitor arrivals to Australia as a member of a team of economists who are doing research on the future of tourism industry in Australia. |
| Indicative Assessment |
The assessment scheme is as follows
|
| Workload | 4 contact hours per week plus private study time. |
| Course Classification(s) | AdvancedAdvanced courses are designed for students having reached 'first degree' level of assumed knowledge, which provide a deep understanding of contemporary issues; or 'second degree' and higher levels of knowledge; or for transition to research training programs. |
| Areas of Interest | Econometrics |
| Eligibility | At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree with introductory level courses in Economics, Statistics and Econometrics |
| Prescribed Texts |
See Course Website: http://ecocomm.anu.edu.au/courses/course.asp?code=EMET8012 |
| Preliminary Reading |
See Course Website: http://ecocomm.anu.edu.au/courses/course.asp?code=EMET8012 |
| Indicative Reading List |
See Course Website: http://ecocomm.anu.edu.au/courses/course.asp?code=EMET8012 |
| Programs | Graduate Diploma in Economics, Graduate Diploma in Economic Policy, Graduate Certificate in Applied Statistics, Graduate Certificate in Business Statistics, Master of Economics, Master of Applied Economics, Master of International Trade and Economic Relations, Master of Commerce, Master of International and Development Economics, and Master of Environmental and Resource Economics |
| Other Information |
For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=EMET8012 |
| Academic Contact | See http://ecocomm.anu.edu.au/courses/course.asp?code=EMET8012 |
The information published on the Study at ANU 2010 website applies to the 2010 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2009 website.
