Statistics and forecasting ERASMUS>EKO19

The course equips students with essential knowledge, skills, and competencies related to economic forecasting. Upon completion, students will have a solid understanding of various methods for analyzing time series data and the relationships between variables, as well as the rules for creating and evaluating forecasts. They will be proficient in analyzing economic trends, selecting appropriate forecasting methods, and using tools such as Excel, GRETL, and STATA to estimate models and assess their accuracy. Additionally, students will develop a critical awareness of their knowledge level, learning to utilize literature to deepen their understanding and appreciating the importance of forecasting in strategic planning and decision-making. The course content reinforces these learning outcomes through practical exercises, including forecasting using classical models, ARMA/ARIMA models, and panel data analysis. Students will also engage in project work and presentations, which will provide hands-on experience and reinforce their ability to apply theoretical concepts in real-world scenarios. The course is supported by a robust selection of literature, offering both foundational texts and supplementary readings to enhance students' learning experiences.