FUNDAMENTALS OF BUSINESS FORECASTING

Catalog description

This is an introductory level course in time series methods and their application. Students will analyze business and economic data e.g. inflation, unemployment, output, stock price data etc. Students will learn how to apply time series methods for inference, prediction and forecasting using a common programming language. The course will review basic statistical concepts before learning how to apply techniques for prediction and forecasting. Students will learn to utilize Monte Carlo simulations; differentiate between stationary and nonstationary; estimate ARMA models; select amongst alternative models; forecast ARMA models and evaluate forecasts; difference and detrend data; analyze trends through trend/cycle decompositions. PREREQ: MUST BE ADMITTED TO A COBE GRADUATE DEGREE OR CERTIFICATE PROGRAM