Forecasting for Managers
Module code: 6ECON006W
Faculty: Westminster Business School
Credit Level: 6
Credit value: 20
Available to: Westminster Business School students only, however students on some courses are unable to choose Westminster Electives – see list of exemptions. Please note elective modules are subject to availability.
The recent crisis in financial markets has exposed serious flaws in management forecasting methods, most notably the failure to anticipate and deal with the consequences of economic collapse. This quantitative module will provide you with an insight into the major methods of forecasting, and as well as considering the theoretical aspects of the methods, you will also gain practical experience of applying some of the most commonly used procedures to real-life data. This will be achieved by using online data such as that offered by the Bloomberg Financial Markets Suite, and data analysis software.
Having successfully completed the module you will be able to evaluate the relative merits of the major forecasting techniques, and the main aims and properties of the major forecasting procedures, as well as appraising the role of forecasting in the planning process, and its links to wider decision-making activities in business. You will also be able to undertake tasks that working economists and business analysts would be expected to perform in the real world, and apply appropriate methods to solve relevant numerical and theoretical problems.
Teaching and learning methods will include lectures, seminars, practical classes and workshops, and lab sessions; assessment will be based around an individual report, and a closed-book final exam.
This module will only be available from 2017/18 academic year.