EKONOMSKO PREDVIĐANJE I PROGNOZE

Economic forecasting - learning outcomes Upon completion of this course the student will be able to: 1. Connect basic concepts of economic forecasting. 2. Explain the essence of the predictive regression model and the interpretation of its results. 3. Formulate the components of time series and the importance of their role in modeling for prognostic purposes. 4. Create models that include seasonal variations. 5. Classify stationary time series models and explain how they can be used to predict future time series movements. 6. Create models for describing unstable variance time series. 7. Analyse the advantages and disadvantages in practical examples of modeling. 8. Combine the absolute and relative standards for estimating model forecasts. 9. Design the process of selecting a forecasting model. 10. Explain the importance of vector autoregressive models.