Commodity prices
Individual report (2500 words)
You are asked to choose a commodity and write a briefing note with an accompanying set of power point slides (maximum of 12) for your superior (not an economist). He/she is giving a presentation on How world commodity prices (for a chosen commodity) are changing and what, if any, the connection is with the change in world oil prices. Each slide should be accompanied by notes that explain what the slides show.
The report should not exceed 2500 WORDS (slides and notes) excluding references and appendices.
You need to include:
Follow this link to choose a commodity.
https://thedocs.worldbank.org/en/doc/5d903e848db1d1b83e0ec8f744e55570-0350012021/related/CMO-Historical-Data-Annual.xlsx
1. Relevant data for the 10-year period
2. The link between your commodity prices and oil prices
3. Any other factors that have impacted on the commodity prices.
You should make use of the following economic concepts.
Demand and supply analysis
Elasticity of demand and supply
Substitutes and compliments
Slide 2: Using some tables or statistical representation, discuss how the price for this commodity is changing in the past 10 years. (one slide for the table/statistical representation and another slide for discussion note)
Slide 3: With statistical representation, discuss the changes in world oil prices for the past 10 years and how it relates to the commodity you have chosen. (one slide for the table/statistical representation and another slide for discussion note. Do same for all)
Slide 4: Discuss if the changes in the price of the commodity chosen is related to changes in the price of oil, using a correlation or simple regression analysis to show the relationship between the price of the commodity and oil price. (Discuss the statistical significance of the relationship).
Slide 5: Discuss any other factors (including substitutes, complementary goods or other factors affecting demand and supply) that have impacted on the price of the commodity chosen. Using Diagram, show how substitutes and compliments commodities/products have impacted on the price of your chosen commodity.
Slide 6: Apply the concept of Demand and supply analysis to your discussion using diagrams. Apply the concept of Elasticity of demand and supply using diagram.
Conclusion: Summarise your findings and make some inferences.
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