Maddox Smith Staff asked 5 years ago

Energy Exporting Nations

Falling oil prices: Who are the winners and losers? URL Global oil prices have fallen sharply over the past seven months, leading to significant revenue shortfalls in many energy exporting nations, while consumers in many importing countries are likely to have to pay less to heat their homes or drive their cars. How oil price fall will affect crude exporters – and the rest of us URL Lower oil prices will hit the Russian economy, the US fracking industry and Iran, but could be good for shoppers and firms in the UK, and delay the long-expected interest rate rise Oil prices and the impact on the economy since 1945 URL It would not be fanciful to state that the history of the entire world economy since the end of the Second World War is a tale of oil price movements. Between 1945 and 1974, the oil price remained relatively stable at US $2.5 a barrel and stayed at this price throughout a long economic boom that featured low inflation, economic stability and full employment. IMF URL The steep decline in oil prices presents new economic realities for oil-exporting countries in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) and Caucasus and Central Asia (CCA) regions, said the IMF in its update of the Regional Economic Outlook, released on January 21. Winners and losers of oil price plunge URL Open allClose all Instructions: Clicking on the section name will show / hide the section. 8 June – 14 June Week 1 – Business and The Economic Environment C15 PM101 W1 Lecture File The lecture provides an overview of economics and how it relates to business, from the inner point of view of the companies to the understanding of the consumer behaviour, how markets are articulated, and the aggregated level of macroeconomics and explaining why every business person, directors and managers must be aware of these concepts. The tutorial is designed to introduce the students to the perfect competition model, related to the free market economic system. C15 PM101 W1 tutorial File 15 June – 21 June Week 2 – Competitive Markets: Demand and the Consumers C15 PM101 W2 lecture Update File The lecture introduces the demand side of the market, within the framework of a perfect competition economic system. Demand curve and demand function are explained, together with the effects of changes in price and other factors affecting market equilibrium through changes in demand. C15 PM101 W2 Tutorial File 22 June – 28 June 29 June – 5 July Week 4 – Market Structures C15 PM101 W4 lecture File This session considers how to analyse a business in different market contexts; for example, where the business is monopolist or it has a significant market share or where the business is competing with many businesses in a market. In the tutorial the student will be showed how to represent graphically the supply curve, interpreting the relationship between price and quantity supplied. Changes in other factors provoking shifts are explained. The concept of elasticity is introduced. The market is explained as the interaction between supply and demand. C15 PM101 W4 Tutorial File 6 July – 12 July Week 5 – Labour and Employment C15 PM101 W5 lecture File This session applies the concepts of supply and demand to the analysis of the labour market. In the tutorial the student is introduced to the analysis of markets from a business case perspective, incorporating the effects of market power over the price, quantity, and social welfare. C15 PM101 W5 tutorial File 13 July – 19 July Week 6 – Macroeconomic Analysis C15 PM101 W6 lecture File This session introduces the basics of macroeconomic analysis and how the economy works, taking it from the circular flow of the economy, the main variables (GDP, unemployment, inflation…), and possible imbalances in the economy which business should be aware of since it is the environment where they are operating in. In the tutorial the student is introduced to the application of the knowledge obtained up to week 6 to the analysis of business strategy when considering an UK business operating in the international markets. 20 July – 26 July Week 7 – Macroeconomic Policy C15 PM101 W7 lecture File This session is devoted to explain how governments can solve the main imbalances in the economy by applying economic policies. There are, broadly, two type of measures: demand-side and supply-side, where the former includes the fiscal policy and the monetary policy. In the tutorial the student is introduced to an analysis of UK’s recent economic events, uncovering where it is coming from, which are the current magnitudes and relevant information, and which are the prospects for the future of the country. 27 July – 2 August Week 8 – The Global Financial Environment Report is to be demonstrated with graphs and illustrations