Learning outcomes

At the end of the seminar students will be able to demonstrate:

  • Understanding of recent developments and policy issues related to the global markets of key commodities;
  • Critical thinking (analyse information objectively and make a reason judgement)
  • Ability to communicate clearly and persuasively in written and oral;
  • Ability to manage a project;
  • Ability to collaborate effectively in a team

 

Goals

The seminar aims to introducing students with recent developments and policy issues related to the markets of key commodities in both developing and advanced countries. Specific topics include: markets forces in determining global commodity prices; welfare impacts for household and business as well as public policies of support against adverse effects of commodity prices; international and regional agreements, volatility and implications for risk management strategies and the challenges for macroeconomic stability (monetary and fiscal policies); and globalization.

Content

Sources of global commodity prices and policies

Teaching methods

The seminar starts with introduction to basic theories and empiricial findings of the drivers of global commodity markets. Thereafter, students will develop projects of case studies within groups. The size of groups will be three to four students and can vary depending on the numbers of students in class. At the beginning of the seminar, students will obtain a list of topics from which each group has to make a choice. Thereafter, each group will develop its project of which report will be submitted at a pre-defined time. Subsequently, each group will present the summary of the findings in class. For each presentation in class, there will be another group that will be assigned as discussant. After the presentation and discussions by the two groups there will be an open floor for general discussions on the topic.

 

Assessment method

The evaluation includes the following 4 elements:

1. Definition of the project: 10%

2. Presentation of the findings on the project: 20 %

3. Participation in general discussions: 20 %

4. Final report on the project: 50%

 

Sources, references and any support material

  1. Baffes J. and P. Nagle (2022) Commodity Markets: Evolution, challenges and policies, World Bank
  2. Houssa, R., J. Mohimont, C. Otrok (2023), Commodity exports, financial frictions and international spillovers, European Economic Review
  3. other Scientific Journal Articles will be provided in class

 

Language of instruction

English