AAEC 5134

Description

The purpose of this course is to provide a comprehensive and in-depth overview of commodity price analysis. Theoretical relationships, analytical techniques and practical applications are emphasized. To demonstrate the relevance of commodity price analysis and to spark student interest, the subject is considered largely from the perspective of applied forecasting and decision making.

Learning Objectives

Upon successful completion of this course, students should be able to:

• Collect, analyze and interpret cash price data
• Collect, analyze and interpret futures price data
• Graphically examine changes in economic variables over time and across space
• Construct a balance sheet for a commodity based on short term forecasts of various supply and demand components
• Forecast prices using an ending stocks model
• Evaluate impacts of supply and demand changes on commodity balance sheet estimates
• Generate time-series price forecasts
• Generate cash price forecasts based on futures price information
• Evaluate the accuracy and bias of alternative price forecasts
• Describe various types of livestock pricing models
• Describe, estimate and interpret hedonic price models

Prerequisites and Corequisites

Graduate Standing, Intermediate Microeconomic theory, Intermediate Statistics

Instructor(s)

Olga Massa