Management of Financial Instruments in the Commodity and Energy Market 2600-DIdzZIFkf
• Topics related to market overview (products, risk), energy futures markets, hedging in futures markets, over-the-counter (OTC) energy derivatives markets (the Singapore market, European energy markets, North American markets), emerging energy commodity markets (coal trading, weather derivatives, "green" energy trading, freight rate swaps, forward price curves of derivatives), and the future of energy trading.
• For commodity markets, topics will cover the structure of commodity markets, the anatomy of the commodity market, price relationships between spot and forward markets, short squeezes, market manipulation and regulation, risk management in the commodity trading division, the distribution of commodity market returns, and real estate investments.
Type of course
Mode
Course coordinators
Learning outcomes
Upon completion of the course, the student will have the following competencies:
Knowledge:
• E_W01: Knows in-depth research methodology and terminology in the field of economics and finance, especially concerning commodity and energy markets and financial instruments used in risk management in these markets.
• E_W02: Knows and understands complex economic, technological, legal, and ecological processes and phenomena related to the functioning of commodity and energy markets and their impact on investment decisions and hedging strategies.
• E_W03: Knows the principles of creating and developing various forms of entrepreneurship in the commodity and energy market on a national and global scale.
Skills:
• E_U01: Can use knowledge from the field of economics and finance to identify, diagnose, and solve investment problems related to managing financial instruments in the commodity and energy market.
• E_U02: Can interpret complex economic, technological, and regulatory processes in commodity and energy markets and assess their impact on investment decisions and hedging strategies.
• E_U03: Can formulate and test hypotheses regarding price risk, relationships between spot and forward markets, and the effectiveness of using derivatives in commodity and energy markets.
• E_U04: Can propose solutions to investment and hedging problems under conditions of volatility and unpredictability of commodity and energy markets.
• E_U05: Can independently and in a team prepare reports and analyses on the functioning of commodity and energy markets and present them communicatively to diverse audiences, using IT tools.
Social Competencies:
• E_K01: Can critically evaluate complex situations and phenomena in the commodity and energy market in the context of managing financial instruments and make informed investment decisions.
• E_K02: Appreciates the importance of scientific and expert knowledge in the process of analyzing commodity and energy markets and in making investment decisions and managing risk.
• E_K03: Can initiate actions based on the results of commodity and energy market analyses that benefit the community, society, or the environment (e.g., supporting green energy trading).
Assessment criteria
Written exam and a project.
Written examination
Project preparation based on market data, according to the instructor's guidelines. The project should consist of:
• Theoretical description of the phenomenon
• Data description
• Model description
• Results
• Conclusions
• Summary and limitations
Practical placement
Professional practices are not required for this course.
Bibliography
Czekaj, J. (2017). Rynki, instrumenty i instytucje finansowe. Wydawnictwo Naukowe PWN.
Niedziółka, D. (2018). Funkcjonowanie polskiego rynku energii. Difin.
Opracowanie zbiorowe. (2022). Gospodarka energetyczna w warunkach rynkowych. Wydawnictwo Naukowe PWN.
|
Term 2025Z:
Written examination |
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: