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by Daniel P. Ahn (Author)
About the Author
Dr. Daniel P. Ahn is Professorial Lecturer at Johns Hopkins School of Advanced International Studies and a consultant for the U.S. government. He previously led the Office of the Chief Economist at the U.S. Department of State and was Chief Commodities Economist at Citibank.
About this Book
A rigorous but practical introduction to the economic, financial, and political principles underlying commodity markets.
Commodities have become one of the fastest growing asset classes of the last decade and the object of increasing attention from investors, scholars, and policy makers. Yet existing treatments of the topic are either too theoretical, ignoring practical realities, or largely narrative and nonrigorous. This book bridges the gap, striking a balance between theory and practice. It offers a solid foundation in the economic, financial, and political principles underlying commodities markets. The book, which grows out of courses taught by the author at Columbia and Johns Hopkins, can be used by graduate students in economics, finance, and public policy, or as a conceptual reference for practitioners.
After an introduction to basic concepts and a review of the various types of commodities—energy, metals, agricultural products—the book delves into the economic and financial dynamics of commodity markets, with a particular focus on energy. The text covers fundamental demand and supply for resources, the mechanics behind commodity financial markets, and how they motivate investment decisions around both physical and financial portfolio exposure to commodities, and the evolving political and regulatory landscape for commodity markets. Additional special topics include geopolitics, financial regulation, and electricity markets. The book is divided into thematic modules that progress in complexity. Text boxes offer additional, related material, and numerous charts and graphs provide further insight into important concepts.
Review
Students of and practitioners in global commodities markets are indeed fortunate that Daniel Ahn's towering and wide-ranging expertise and thought leadership are now accessible through Principles of Commodity Economics and Finance. This book superbly reflects Dr. Ahn's rigorous yet practical mastery of commodity market dynamics and will become a bedrock source of knowledge and insight for years and decades to come.
―Robert McNally, President, Rapidan Energy Group; former Senior Director for Energy, White House National Security Council
Brief Contents
1: Introduction
Module I: Fundamentals of Commodity Economics
2: Fundamentals of Commodity Economics: Supply
3: Fundamentals of Commodity Economics: Demand
Module II: Financial Markets for Commodities
4: Fundamentals of Commodity Derivatives
5: Economics and Financial Activities behind Derivatives
Module III: Valuation and Portfolio Choice
6: Real Optionality and Valuation
7: Commodity Beta: Diversification and Inflation Protection
8: Commodity Alpha: Risk Premia
Module IV: Other Topics
9: Geopolitics and Commodities
10: Commodity Markets and Financial Regulation
11: Electricity Markets
Index
Publisher : The MIT Press; 1st edition (April 9, 2019)
Language : English
Pages : 232
ISBN-10 : 0262038374
ISBN-13 : 978-0262038379
MIT__Principles of Commodity Economics and Finance.epub
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