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Terminated in academic year 2010/2011

Forecasting Methods in Economic Practice

Type of study Doctoral
Language of instruction Czech
Code 545-0928/01
Abbreviation progn
Course title Forecasting Methods in Economic Practice
Credits 10
Coordinating department Department of Economics and Control Systems
Course coordinator prof. Ing. Jaroslav Dvořáček, CSc.

Subject syllabus

1. Introduction – forecasting and decision making process.
2. Forecasting task – governmental level and enterprise level.
3. Fundamental terms of forecasting activity – term of forecasting, forecasting time horizon, forecast verification, forecast probability, development of forecasting activity.
4. Forecasts classification – classification based on forecasting course, classification based on time horizon length, classification based on forecast subject.
5. Methods of forecasting – possible classification ways.
5.1. Methods based on analogy – biological growth analogy, historical analogy.
5.2. Methods based on information of experts –questionnaire, Delphi method, brainstorming.
5.3. Methods based on prolongation – graphical and numerical prolongation.
5.4 .Methods based on system approach – morphology method, method of cross interaction.
6. Application of forecasting methods in enterprise practice.
6.1. Differential estimation of trend line.
6.2. Direct estimation of trend line.
7. Forecasts in the field of raw material sources.
8. Forecasts as a starting point of strategic decisions – term of
strategy, enterprise strategies basic types, forecasts and
strategic decisions.

Literature

Makridakis S. , Wheelwright S.C., Hyndman, R.J.: Forecasting. Methods and
Applications. Third Edition. Johns Wiley & Sons, New York, 1998

Advised literature

Carnot N., Koen V., Tissot B.: Economic forecasting. Palgrave Macmillan, 2005