International Commodities and Stock Exchanges

 Tittle  International Commodities and Stock Exchanges
 Department  International Management and Marketing
 Type (compulsory/optional)  Compulsory
 Cycle (first/second)  First Cycle
 Semester when the component is delivered  8-th semester
 Course description  The course syllabus includes topics related to the study of international commodities, stock and currency exchanges, stock price formation processes on commodity assets and financial instruments, and the formation of analytical skills with stock quotes.
The purpose of the course is to develop competencies as a dynamic combination of knowledge, ways of thinking, professional and practical skills on the conclusion of spot contracts, futures and options contracts, both at international and national stock exchanges and FOREX market, which will allow operating successfully as a broker or trader in modern international commodities and stock exchanges.
The course is devised for both full-time and part-time students and distance learning as well. Distance learning platform is provided through distance education programs at Ternopil National Economic University.
 Course content
Module 1. Fundamentals of international commodities and stock exchanges
Topic 1. The essence of the exchanges and its economic nature.
Topic 2. Classification of exchanges.
Topic 3. Commodity at the exchanges.
Module 2. Organizational aspects of international commodities and stock exchanges
Topic 4. Participants of the exchanges operations.
Topic 5. Organization of exchange trading.
Topic 6. Clearing and settlement system of exchange contracts.
Topic 7. Delivery procedure of exchange-traded contracts.
Module 3. Fundamentals of futures and options trading
Topic 8. Futures contracts.
Topic 9. Option trading.
Topic 10. Hedging of commodity price and exchange rate risks.
Topic 11. Speculation at exchange.
 Learning outcomes  This course will foster:
- acquiring knowledge about the functioning of modern international stock exchange markets;
- the acquisition of skills related to concluding exchange contracts for various exchange commodities and instruments, including spot and forward ones with the physical delivery;
- gaining knowledge and skills for providing additional financial guarantees of contracts through the procedures of delivery, clearing and settlement of these contracts;
- acquiring knowledge and skills in the area of price risks hedging by designing and contracting of derivatives.
 Contact hours (lectures/seminars)

 24 /12 

Economic Analysis, Macroeconomics
 Number of ECTS credits allocated

3 credits