Spring 2021

Economics 421 - Economic Forecasting and Big Data

Professor Norman R. Swanson

Course Overview: The course is designed for students whose objective is to attain working knowledge of widely-used forecasting techniques. This is an upper level course and so will be taught at an advanced level. Good understanding of the material taught in the prerequisite courses for this class is essential for doing well in this course. This course focuses on the practical aspects of the whole economic forecasting process, including: 1. Understanding the needs of the client or end user of a forecast. 2. Constructing forecasts and forecast confidence intervals. 3. Compiling and reporting forecasting results in a clear and concise way. 4. Analyzing and utilizing data sets with a large number of potential explanatory variables. 5. Using statistical and econometric software to make forecasts.

SYLLABUS

Various Notes

1. Basic Statistics Review Notes

2. Eviews Introduction and Instruction

3. Nonstationarity and Differencing Data

4. Multicollinearity

Dates of Interest

  • Assignment 1 due date: see Canvas course website
  • Assignment 2 due date: see Canvas course website
  • Assignment 3 due date: see Canvas course website
  • Assignment 4 due date: see Canvas course website
  • Assignment 5 due date: see Canvas course website
  • Assignment 6 due date: see Canvas course website

  • Midterm due date: see Canvas course website
  • Final Project due date: see Canvas course website

  • Course Assignments, Midterm, and Final Prject

  • see Canvas course website