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OEBU 2210A - Understanding Commodity Markets

Type d'enseignement : Elective

Semester : Autumn 2018-2019

Number of hours : 12

Language of tuition : English

Pre-requisite

Good command of Accounting, Financial analysis and understanding of Financial Markets.

Course Description

With 7.5 billion population worldwide, and 9 billion in a few decades, with middle class emerging throughout the world fostering further urbanization, commodities are core to any economic development. We have entered a new era. The management of global commodity supply chains is becoming increasingly more critical, particularly in a world where globalization and free trade are increasingly challenged. Commodities, far from having lost their strategic dimension have become an asset class of their own, adding a layer of complexity to physical trading. This course aims at explaining the current commodity dynamics, giving a good command of the key function of trading, of the embedded risks and their management through financial instruments, the various strategies of the large commodity houses. Students will strategize on these concepts and be confronted with seasoned practioners to challenge their findings and understanding.

Teachers

LAMBERT, Jean-François (Founder and Managing Partner at Lambert Commodities)

Pedagogical format

Lecture on main notions with Q&A and class interaction, case studies work, presentation to a professional jury (5 pages Power Point max).

Course validation

Ongoing evaluation (personal interaction in class): 20%, Case study work (Group work): 30%, Final Power Point Presentation (Group work): 50%.

Workload

Six 2-hour sessions. 2-hour weekly homework. 2 credits.

Required reading

  • The King of Oil: The Secret Lives of Marc Rich / published by Daniel Amman
  • Hot Commodities, Jim Rogers / published by John Wiley & Sons
  • Guide to Commodities, Caroline Blain / published by The Economist

Additional required reading

Commodities demystified: a guide to trading and the global supply chain /pdf available on www.trafigura.com