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- Introduction to the Economics of Mineral Resources. Economic contribution of mining industry: direct, indirect and implicit impacts. Output, income and employment multipliers.
- Market analysis for mineral raw materials in the light of neoclassical economics. Demand and Supply of mineral resources. Demand and supply curves. Competitive market, monopolies and oligopolies. Market equilibrium of perfect and imperfect competition. Supply and demand elasticities.
- Duties, taxes, subsidies, quotas. Taxation of mining companies. Ricardian rent. Scarcity rent.
- Mineral resources prices: economic cycles, supply and demand factors, etc. Constant and nominal prices. Price deflation.
- Time series analysis: applications in mineral resources demand and price forecasting. Basic characteristics of time series. Linear stochastic processes: autoregressive models (AR), moving average models (MA), mixed models (ARMA). Stationary and non-stationary time series. Time series forecasting. Panel data analysis.
