World Oil Prices

An economic approach



IE code:
Language: English
also available in Spanish
Multimedia and interactive
Est. dedication time:
45 minutes
Type of publication:
Case Study

Instructor support

A Teaching Note is available for this material.

World Oil Prices

Awards received

  • IE Multimedia Award 2010. Best Valued Category


This case is designed to introduce students to the basic tools of supply and demand and to observe and predict how they operate in a real market that is constantly grabbing headlines: the global petroleum market. The analysis of this interactive multimedia case is based around those events that have affected the price of oil from 1970 to 2013.

Students will be presented with a series of historical events that affected the price of oil on the world market. They study each of these and then predict the effects on price by shifting the curves on the traditional supply and demand model.

The World Oil Prices interactive exercise has been used successfully across a range of masters programs, from Masters in Management through to MBA and executive programs. The material would be suitable for both undergraduate and postgraduate economics courses, once the initial supply and demand theory has been grasped.

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