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ZUG4041 - Forecasting Methods for Business

15 credits

Honours degree – Module

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.


Business, Engineering and Technology


South Africa

  • First Semester  2019


The purpose of this module is to provide the students with forecasting skills and knowledge critical to business and economic growth.  Relevant areas of application is not only limited to economics but also banking and finance, management and accounting.  The ability to produce and evaluate forecasts is vital to business and economic growth. Topics include: short-term forecasting (e.g. retail sales & electricity demand), long-term forecasting (e.g. scenario analysis and growth curves), alternative forecasting techniques, time series decomposition and forecasting, and improving forecasts.


  1. Compare alternative forecasting techniques.
  2. Identify appropriate forecasting and data analysis techniques to suit various fields in business and economics.
  3. Evaluate and improve forecasts.
  4. Communicate the applicability of estimated models to decision makers and other users.


Within semester assessment: 50%
Examination: 50%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this module is 150 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The module requires on average three to four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.


All three compulsory BCom (Honours) or equivalent modules.