Workshop on forecasting models Vienna

The Institute for Advanced Studies (IHS), partner in the Conecte project, organized a workshop on forecasting models on April 19 to 22, 2022 in Vienna, Austria. The experts Robert Kunst, Edith Skriner animated the workshop with practical focus on the future supply and demand of labor in Lebanon. The workshop was attended by Lebanese economists and experts representatives of Lebanese universities and partner institutions of the project.  The trainees learnt throughout this workshop how to set up and use a quantitative forecasting model and how to interpret forecasting results with hands on practical exercises and applications. The workflow of forecasting consists of: (1) providing the data set; (2) visualization of the data and of basic time series characteristics, such as autocorrelation functions; (3) specifying the quantitative models; (4) generating estimates and forecasts; (5) evaluation of the outcome.