World Oil Prices

An economic approach
IE code:
EC1-115-I-M
Language:   English
also available in Spanish
Format:  
Multimedia
Est. dedication time:
45 minutes
Academic Area:
Type of publication:
Case Study
World Oil Prices

Awards received

  • IE Multimedia Award 2010. Best Valued Category

Description

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.