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Viewing: ARE 415 : Introduction to Commodity Futures Markets

Last approved: Tue, 30 Aug 2016 14:54:00 GMT

Last edit: Tue, 30 Aug 2016 14:54:00 GMT

Change Type
Major
ARE (Agricultural Economics)
415
001155
Dual-Level Course
No
Cross-listed Course
No
Introduction to Commodity Futures Markets
Commodity Futures
College of Agriculture and Life Sciences
Agriculture and Resource Economics (11ARE)
Term Offering
Spring Only
Offered Alternate Even Years
Summer 2 2016
Previously taught as Special Topics?
Yes
2
 
Course Prefix/NumberSemester/Term OfferedEnrollment
ARE 495-002Spring 201620
ARE 495-005Spring 201432
Course Delivery
Face-to-Face (On Campus)

Grading Method
Letter Grade Only
3
16
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture3
Course Attribute(s)


If your course includes any of the following competencies, check all that apply.
University Competencies

Course Is Repeatable for Credit
No
 
 
Walter Thurman
Professor

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Enrollment ComponentPer SemesterPer SectionMultiple Sections?Comments
Lecture5050NoCourse will be offered initially to 25, with anticipation to increase to 50 students in future years.
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Prerequisites: ARE 201 or EC 201 or EC 205 or equivalent
Is the course required or an elective for a Curriculum?
Yes
SIS Program CodeProgram TitleRequired or Elective?
11AGBUSBSAgricultural Business ManagementElective
An economic introduction to futures and options contracts and exchanges, with primary focus on agricultural and natural resource commodities.

Ag industry employers and professionals have indicated a need for increased knowledge regarding Ag Commodities for a portion of the ARE student base.  In response to this industry feedback this course has been offered successfully as Special Topics, and is now being added as a regular course catalog offering for future years.


No

Is this a GEP Course?
No
GEP Categories

Humanities Open when gep_category = HUM
Each course in the Humanities category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Mathematical Sciences Open when gep_category = MATH
Each course in the Mathematial Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Natural Sciences Open when gep_category = NATSCI
Each course in the Natural Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Social Sciences Open when gep_category = SOCSCI
Each course in the Social Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Interdisciplinary Perspectives Open when gep_category = INTERDISC
Each course in the Interdisciplinary Perspectives category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Visual & Performing Arts Open when gep_category = VPA
Each course in the Visual and Performing Arts category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Health and Exercise Studies Open when gep_category = HES
Each course in the Health and Exercise Studies category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
&
 

 
 

 
 

 
 

Global Knowledge Open when gep_category = GLOBAL
Each course in the Global Knowledge category of the General Education Program will provide instruction and guidance that help students to achieve objective #1 plus at least one of objectives 2, 3, and 4:
 
 

 
 

 
Please complete at least 1 of the following student objectives.
 

 
 

 
 

 
 

 
 

 
 

US Diversity Open when gep_category = USDIV
Each course in the US Diversity category of the General Education Program will provide instruction and guidance that help students to achieve at least 2 of the following objectives:
Please complete at least 2 of the following student objectives.
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Requisites and Scheduling
 
a. If seats are restricted, describe the restrictions being applied.
 

 
b. Is this restriction listed in the course catalog description for the course?
 

 
List all course pre-requisites, co-requisites, and restrictive statements (ex: Jr standing; Chemistry majors only). If none, state none.
 

 
List any discipline specific background or skills that a student is expected to have prior to taking this course. If none, state none. (ex: ability to analyze historical text; prepare a lesson plan)
 

Additional Information
Complete the following 3 questions or attach a syllabus that includes this information. If a 400-level or dual level course, a syllabus is required.
 
Title and author of any required text or publications.
 

 
Major topics to be covered and required readings including laboratory and studio topics.
 

 
List any required field trips, out of class activities, and/or guest speakers.
 

No new resources are required for this course. The course has been taught as Special Topics within the appointment load of two ARE faculty, and will continue to be taught within their normal load as a regular catalog course in the future.

At the conclusion of this course, a student will be able to:


(1) Describe the legal and economic structure of exchange-traded futures contracts.


(2) Define hedging and how futures and options can be used to establish hedge positions.


(3) Identify the economic determinants of basis, and the difference between local cash and future prices.


(4) Discuss how margin accounts are maintained.


(5) Examine price relationships among commodity futures contracts and apply this knowledge to real-world phenomena.


Student Learning Outcomes

At the conclusion of this course, a student will be able to:


(1) Describe the legal and economic structure of exchange-traded futures contracts.


(2) Define hedging and how futures and options can be used to establish hedge positions.


(3) Identify the economic determinants of basis, and the difference between local cash and future prices.


(4) Discuss how margin accounts are maintained.


(5) Examine price relationships among commodity futures contracts and apply this knowledge to real-world phenomena.


Evaluation MethodWeighting/Points for EachDetails
Multiple exams40%Two exams weighted 20% each.
Project30%In-class presentation on a commodity agreed upon by each student and the instructor.
Homework30%Graded assignments requiring identification of data relevant to hedging and tracking of hedging positions.
TopicTime Devoted to Each TopicActivity
Please see schedule in attached syllabus

Key: 10392