Forecasting Macroeconomic and Financial Variables

Catalog description

Course surveys strategies for forecasting macroeconomic and financial variables. Leading strategies are examined in detail, with focus on implementation of strategies via hands-on exercises. Students study the forecasting process from data gathering to model development to forecast evaluation, with emphasis on managing practical challenges posed by model uncertainty and parameter instability. Extensively analyze data using MATLAB for numerical computation and visualization. Key learning objective is development of technical and judgmental skills required to produce reliable forecasts that are useful inputs for economic and financial decision making. Research project provides students with the opportunity to apply forecasting skills. (Offered every Spring)