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Commodity Markets - ECO00017I

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• Department: Economics and Related Studies
• Credit value: 10 credits
• Credit level: I
• Academic year of delivery: 2022-23

Module will run

Occurrence	Teaching period
A	Spring Term 2022-23

Module aims

• To consider some of the principal problems and controversies that are peculiar to trade in primary commodities. Theoretical, institutional and empirical works are all considered. Towards the end of the course some of the special features of futures markets in financial assets are considered
• To outline the economic structure of physical commodity markets
• To analyse these using micro market models
• To outline the modelling of forward and futures markets
• To review some empirical applications
• The course is not directly vocationally oriented and will not directly help you make your first million. If you want a very practical course, don't choose this one

Module learning outcomes

On completing the module a student will be able to:

• Have an understanding of how to analyse simple market models theoretically in both static and dynamic forms
• Model the financial market superstructure and an appreciation of the empirical methods and results in the area

Indicative assessment

Task	% of module mark	Group
Closed/in-person Exam (Centrally scheduled)	100	Default
Essay/coursework	100	A

Special assessment rules

None

Indicative reassessment

Task	% of module mark	Group
Closed/in-person Exam (Centrally scheduled)	100	Default
Essay/coursework	100	A

Module feedback

Feedback will be made available according to University guidelines.

Indicative reading

Labys, W. (1975), Quantitative Models of Commodity Markets, Ballinger Publishing Company. Phlips, L. (1990), Commodity, Futures and Financial Markets, Springer.