ECON453 BUSINESS FORECASTING
| Course Code: | 3110453 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. NAZIM KADRİ EKİNCİ |
| Offered Semester: | Fall Semesters. |
Course Objectives
The course starts with a review of fundamental time series concepts. Forecasting techniques based on classical time series methods are provided. A through discussion of ARMA and ARIMA modelling will follow. The bulk of the course will be on forecasting based on these models as well as exponential smoothing and related techniques. All methods will be implemented in the R programming environment.
Course Content
Various forecasting methods are introduced with emphasis on their applications for social and economic planning. The core of the course is the use of models in forecasting future sales, capital, investment, new product development etc.
Course Learning Outcomes
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | The aim of our program is to equip our students with the necessary skills and tools to have a firm understanding of economic theory and policymaking. Our graduates will be able to conceptualize economic problems, assess, analyze, and propose scientific solutions to them. | ✔ | |||
| 2 | Our students are expected to have interdisciplinary perspective to be able to follow and understand daily economic and political developments. | ✔ | |||
| 3 | Our program also trains students to be open to new ideas, be sensitive about social problems surrounding them and work towards providing solutions for these to share with their community. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution