Economic Analytics

ECN6300 Economic Analytics
3 Blended CreditsThis course provides a framework for systematic analysis of consumer and firm's choices in light of global market dynamics to create and capture value, given the firm's and industry's market structure.

This course can be broken down across three phases:

- Foundation: Economic data sources for business; economics theories and models related to analytics in business (e.g. maximization of consumer utility/satisfaction; consumer and firm behavior).
- Intermediate: Linear and non-linear models in the context of business applications (e.g. elasticity and demand; marginal productivity; sales simulation; quantifying impacts of government policies on business); Association and Causality; logit and multinomial logit for multiple outcomes (e.g. predicting choices of different brands; predicting market shares of different products).
- Advanced: Time series (AR, MA, ARMA and ARIMA), exponential smoothing, and trend models (e.g. their applications in sales and revenue forecasting, human resource and customer service); how to present economics findings for business purposes.