545-0187/01 – Applications of mineral commodity forecasting (APNK)

Gurantor departmentDepartment of Economics and Control SystemsCredits5
Subject guarantorRNDr. Radmila Sousedíková, Ph.D.Subject version guarantorRNDr. Radmila Sousedíková, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semestersummer
Study languageCzech
Year of introduction2021/2022Year of cancellation
Intended for the facultiesHGFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
SOU70 RNDr. Radmila Sousedíková, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+2
Part-time Credit and Examination 8+8

Subject aims expressed by acquired skills and competences

Student has knowledge of critical raw materials of the EU and the Czech Republic, basic forecasting methods, methods of time series analysis and factors influencing the formation of mineral commodity prices. Student is able to apply the acquired theoretical knowledge in the analysis of production, consumption and prices of selected mineral commodities, use Microsoft Excel for the analysis of time series of mineral commodities. Student is able to make a basic prediction of production, consumption and prices of selected mineral commodities.

Teaching methods

Lectures
Tutorials
Project work

Summary

The course introduces methods of analysis and forecasting of production, consumption and prices of minerals, the acquired knowledge is applied to estimate the prices of selected critical raw materials. Student has knowledge of critical raw materials of the EU and the Czech Republic, basic forecasting methods, methods of time series analysis and factors influencing the formation of mineral commodity prices. Student is able to apply the acquired theoretical knowledge in the analysis of production, consumption and prices of selected mineral commodities, use Microsoft Excel for the analysis of time series of mineral commodities. Student is able to make a basic prediction of production, consumption and prices of selected mineral commodities.

Compulsory literature:

MC CLAVE, James T., George P. BENSON and Terry SINCICH. Statistics for Business and Economics. 12th ed. Upper Saddle River, New Jersey: Prentice Hall, 2014. ISBN 9781292023298. HYNDMAN, Rob J. and George ATHANASOPOULOS. Forecasting: principles and practice. 2nd edition. Melbourne: OTexts, 2018. ISBN 978-0-9875071-1-2. Critical raw materials [online]. Available from: https://ec.europa.eu/growth/sectors/raw-materials/specific-interest/critical_en ANDERSON, David Ray, Dennis J. SWEENEY and Thomas Arthur WILLIAMS. Modern business statistics with Microsoft Office Excel. 5th ed. Stamford: Cengage Learning, 2015. ISBN 978-1-305-08218-2.

Recommended literature:

SOUSEDÍKOVÁ, R. Business Statistics [CD-ROM]. Ostrava: VŠB-Technická univerzita Ostrava, 2015. ISBN 978-80-248-3660-7. MAISEL, Lawrence and Gary COKINS. Predictive business analytics: forward-looking capabilities to improve business performance. Hoboken: Wiley, 2014. ISBN 978-1-118-17556-9. Mineral Commodity summaries of the Czech Republic 2019. Czech Geological Survey. Available from: http://www.geology.cz/extranet-eng/publications/online/mineral-commodity-summaries/mineral%20-commodity-summaries-2019.pdf LIU, Lon-Mu. Time series analysis and forecasting. 2nd ed. Villa Park: Scientific Computing Associates, 2006. ISBN 0-9765056-6-5.

Way of continuous check of knowledge in the course of semester

Regular feedback on the progress of knowledge during the current term is provided by semester project. The course is completed by a written exam.

E-learning

The Moodle Learning Management System (lms.vsb.cz) is used for external communication of the teacher with students outside the class-room, as well as for communication among the students themselves.

Other requirements

There are no additional requirements.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Critical and strategic raw materials of the EU and the Czech Republic 2. Sources of information on supply, demand and prices of mineral commodities 3. Prognostic methods 4. Analysis of time series trends 5. Forecasting the development of the supply of mineral commodities 6. Forecasting the development of demand for mineral commodities 7. Forecasting the development of mineral commodity prices 8. Factors influencing the formation of mineral commodity prices 9. Forecast of lithium price development 10. Forecast of niobium price development 11. Forecast of kaolin price development 12. Forecast of uranium price development 13. Forecast of fluorite price development 14. Forecast of graphite price development

Conditions for subject completion

Part-time form (validity from: 2021/2022 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 30 (30) 17
                semestrální projekt Semestral project 30  17
        Examination Examination 70 (70) 34 3
                písemná zkouška Written examination 70  34
Mandatory attendence participation: 80%

Show history

Conditions for subject completion and attendance at the exercises within ISP:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2022/2023 (N0724A290011) Mineral Economics ŘP P Czech Ostrava 1 Compulsory study plan
2022/2023 (N0724A290011) Mineral Economics ŘP K Czech Most 1 Compulsory study plan
2022/2023 (N0724A290011) Mineral Economics ŘP K Czech Ostrava 1 Compulsory study plan
2021/2022 (N0724A290011) Mineral Economics ŘP P Czech Ostrava 1 Compulsory study plan
2021/2022 (N0724A290011) Mineral Economics ŘP K Czech Most 1 Compulsory study plan
2021/2022 (N0724A290011) Mineral Economics ŘP K Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner