With a 7.6 billion population worldwide, and 9 billion people in a few decades, with middle class emerging throughout the world fostering further urbanization, commodities are core to any economic development. In the wake of the worst blow since the 1930's the word has entered a new era. As globalisation is challenged and overreliance over fossil fuels has become a shared concern from consumers to investors and financiers, the management of commodity supply chains is getting increasingly more critical and difficult. Sustainability, traceability and transparency are no longer nice-to-have but must-haves. Adding a further layer of complexity to physical trading, commodities have become an asset class of their own. This course aims at explaining the commodity dynamics in 2020, 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 and how they evolve to face the current challenges. Students will strategize on these concepts and be confronted with seasoned practioners to question their findings and understanding.
Jean-François LAMBERT
Enseignement électif
English
Six 2-hour sessions. 2-hour weekly homework. 2 credits.
Good command of Accounting, Financial analysis and understanding of Financial Markets.
Autumn 2021-2022
Ongoing evaluation (personal interaction in class): 20%, Case study work (Group work): 30%, Final Power Point Presentation (Group work): 50%.
Lecture on main notions with Q&A and class interaction, case studies work, presentation to a professional jury (5 pages Power Point max).
SUGGESTED READINGS:
Saudi America, Bethany McLean : the truth about fracking and how it's changing the world / published by Columbia Global Reports