FORECASTING

At the end of the course, the student should be able to:
- master the forecasting process, its data considerations and business implementation strategies
- apply statistical and econometric methods (modeling, estimation, interpretation, forecasting) to obtain forecasts in practical settings in business and economics
- understand the statistical background of the methods commonly used for forecasting in business and economics, and assess the appropriateness of the methods for specific problems
- build econometric forecasting models using real data into a dedicated econometric software package and interpret the output correctly, including the managerial consequences of the obtained results
- communicate about an econometric forecasting analysis, using appropriate scientific jargon

These competencies and/or skills contribute to the following learning objectives
- 3.A Breakdown complex organizational problems using the appropriate methodology
- 3.B Propose creative solutions within an organization
- 5.A. Predict how business and economic cycles could affect organizational strategy
- 5.B Construct expert knowledge from cutting-edge information
- 7.A Demonstrate an expertise on key concepts, techniques and trends in their professional field
- 7.B Formulate strategically-appropriate solutions to complex and unfamiliar challenges in their professional field