Professional Certificate in Commodity Management


Starts 7 January 2019

This module will enable students working within commodities related industries to understand the global cotton industry, analyse its key features and the current issues that it faces. It will provide a brief historical overview of the industry and its importance to world trade. It will then examine the configuration of the world cotton market and current trends in the production of cotton. The key factors that impact on the demand for cotton will be examined alongside the main influences on cotton prices.

Aims:

1. To analyse the nature of the world cotton market
2. To explore global trends in the production of cotton
3. To examine the factors influencing the demand for and price of cotton
4. To investigate the facets of cotton value addition
5. To evaluate the notion of sustainability within the global cotton industry.

Learning Outcomes:

Students will be able to:

• Demonstrate understanding of configuration of the world cotton market
• Undertake an analysis of global trends in the production of cotton
• Evaluate the key influences on the demand for cotton
• Appraise the main determinants of the price of cotton
• Explain the key aspects of value addition during the cotton production process
• Assess the approaches to sustainability within the global cotton industry.

Syllabus:

1. The development and configuration of the world cotton market
2. The notion of sustainability and its relevance to the cotton industry
3. Overview of the global trends in the production of cotton
4. Factors influencing the demand for cotton
5. Key influences on the price of cotton
6. Outline of the cotton production process and how value is added.

Assessment:

Undertake an analysis of a current issue facing the global cotton industry and review the approaches that are being used to address that issue. (2000-word report).

Module leader: Dr. John Minten

Dr. John Minten has worked in higher education for over 30 years in a number of different teaching, research and management roles, and has also been a board member for a number of charitable organisations. He is a former Pro Vice Chancellor of Leeds Beckett University and has been Dean of School for a range of discipline areas at the University of Central Lancashire. He has worked as a consultant and external advisor for a range of Universities across the world, particularly in the area of quality assurance and enhancement, including working as a UK Quality Assurance Agency auditor. As a strategic leader John was responsible for ensuring the design and delivery of high quality programmes for both the undergraduate and post graduate market, but also developing bespoke educational products for industry organisations in the UK and globally, including for the Fire and Rescue Services, Wetherspoons PLC, outdoor education programmes for the Armed Services and programmes for a range of high profile sports for their Sports Coach UK post-graduate level accreditations. John has taught a range of management related areas including strategy and enterprise and has developed expertise in delivering on line programmes over a 10 year period. John has a PhD in the area of social policy from the University of Liverpool and has published in a range of peer- reviewed academic journals

Starts 1 April 2019

Aims:

The module aims to introduce students to the modern theory of finance and financial management. Adding to this, the module will examine the basic functioning of why banks exist, along with their duties as financial institutions. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.

Learning Outcomes:

1. Facilitate understanding of the main themes of modern Financial Management
2. Equip students with the tools and techniques used by financial managers
3. Enable students to interpret and critically examine the issues and controversies in Financial Management
4. Provide the necessary knowledge to allow students to study Finance at a higher level.

Teaching and Learning Strategies:

• 6 x 1-hour podcasting lectures
• 6 x workbooks examining topics covered
• Discussion Forum with regards to module content

Syllabus:

Topics covered:

1. An Introduction to Equity Markets
2. The Time-value of Money and Stock Valuation
3. Portfolio Theory
4. Capital Structure and Investment Appraisal
5. Bond Valuation
6. Banks and their Functions

Assessment:

The assessment will be a 2,000-word limit report. Each student will apply some of the techniques covered within this module to the firm they work for. The assessment will require the student to discuss the issues with their finance department in order to obtain information and/or data used to support the analysis within the report.

Module leader: Dr Ellington

Dr Ellington is a Lecturer in Finance at the University of Liverpool Management School. Michael’s current research interests focus on estimating nonlinear Bayesian Econometric Models. Projects he is currently working on are: Liquidity in the financial sector; structural identification of conventional and unconventional monetary policy shocks; evolving labour market volatilities; and assessing the adequacy of simple sum monetary statistics. His teaching covers all core aspects of Financial Management and Quantitative Business Finance.

Starts 1 July 2019

An introductory module providing an overview of the financial markets of importance to cotton market participants.

Aims:

The aim of this module is to introduce delegates with no prior knowledge of financial markets and/or economics to three of the most important financial arenas in modern finance, namely, commodity markets, foreign exchange markets and the derivative markets.

Learning Outcomes:

Having completed the module delegates will be able to:

1. Understand the various foreign exchange rate regimes and appreciate how the exchange rate is determined under each regime
2. Construct an appropriate foreign exchange hedge for both receivables and payables
3. Use statistical tools to measure and identify price risk in commodity markets;
4. Understand the industry terminology associated with derivatives markets
5. Understand the information contained in the US Commodity Futures Trading Commission (CTFC) Commitment of Traders (COT) Reports
6. Construct an appropriate hedge for commodity price risk using futures contracts
7. Construct an appropriate hedge for commodity price risk using option contracts.

Syllabus

1. Foreign exchange (FX) market regimes and conventions and trends in FX markets
2. Determining the forward foreign exchange rate
3. Hedging with forward contracts and money market hedges
4. An introduction to futures and options markets
5. Hedging using futures markets
6. Risks inherent in hedging using futures (Basis risk, quantity risk, timing risk) and the optimal hedge ratio
7. Hedging using options markets
8. Informational content of derivatives prices and the CTFC Commitment of Traders reports.

Assessment:

2,500 word coursework

Module leader: Mr Jason Laws

Jason is a Senior Consultant Lecturer in Corporate Finance specialising in Financial Modelling, Risk Management, International Finance and Derivative Securities. Jason’s approach to teaching is to make it relevant to the real world and to use cutting edge learning technology. Jason has taught finance, delivered courses and provided consulting throughout the UK, Europe, China, Hong Kong, Malaysia, UAE, China and Singapore. Jason is also the co-author of “Applied Quantitative Methods for Trading and Investment” (John Wiley) and has recent publications in Applied Financial Economics, Derivatives Use Trading and Regulation, The European Journal of Operations Research, Decision Support Systems, European Journal of Finance, Neural Network World and The Journal of Forecasting.

Starts 23 September 2019

Aims and Objectives

This unit aims to;

• provide candidates with the skills and knowledge necessary in managing marketing communications and brand support activities within organisations
• explain the links between communications and marketing
• provide knowledge of fundamental theories of customer insight, and their application to marketing communications.

Learning Outcomes

On successful completion of this unit, students will be able to:

• Explain the role of the marketing plan and communications plan within the context of the organisation’s strategy and culture
• Evaluate the marketing planning process and the links between each stage of the process
• Explain the role of marketing communications and how the tools of the communications mix can be coordinated effectively
• Develop marketing communication and brand support activities based on an understanding of the salient characteristics of the target audience
• Explain the importance of developing long term relationships with customers, channel members, agencies and other stakeholders and transfer such knowledge to the development of marketing communication activities
• Assess various methods of evaluating, measuring and controlling tools in the marketing communications mix
• Recommend suitable methods to influence the relationships an organisation has with its customers, any marketing channel partners and other stakeholders, using marketing communications

Module Overview:

Module is divided into four elements transitioning from theoretical principles to applied

concepts and concluding with critical discussion in relation to market channel behaviour.

Method

Teaching materials will be uploaded to VITAL on each specified teaching date, giving students a full week (and weekend) to engage with the various learning materials (readings, online podcasts and workbooks etc), and contribute to discussion forums.

Although not assessed, discussion forums will be monitored and participation is expected.

Assessment:

2,000 word report

Module leader: Mr David Cockayne

David is a Senior Lecturer at ULMS, located in the department of Marketing and Operations. He has previously held strategic marketing roles internationally, predominantly in China where he spent five years working for a variety of organizations. He has also worked in the US, Thailand, South Korea, and Spain. David’s areas of expertise surround strategic marketing, customer insight analysis and data management, and relationship marketing.

Starts 6 January 2020

Successful completion of this module means that you do not need to sit the ICA ‘Basic’ and ‘Module 2′ examinations to become an ICA arbitrator.

This module provides an introduction to the English Legal system, an introduction to contract law, including formation of a contract and the consequences of breach of contract. The module then deals with specialist aspects of interest to those working in international trade including bills of lading, bills of exchange and their role in the facilitation of payment through letters of credit. The module then deals with aspects of arbitration in dispute resolution.

Aims:

The aims of this module are:

To ensure that students have a solid knowledge and understanding of the main legal principles and issues relating to commodity trade and international sales.

To understand the impact of the law and international agreements to payments and trade within commodity industries.

To allow students to develop a strong knowledge and research skills base to enable them to recognize the legal implications of working in the commodities and be able to recognise differences between Contract Law, legal impact/methods of international payment obligations, aspects of shipping law and dispute resolution.

Contents:

• Introduction to English Law: Features of the English legal system, Sources of English law, Sources of Commercial Law.
• Introduction to Contract Law: Formation of Contract, Intention to create legal relations, consideration, composition with creditors, promissory estoppel, Contractual Terms, Vitiating Factors, discharge and remedies for breach of contract.
• Bills of Lading – Character of international trade, increased risk in, international sales, bill of lading and development of documentary sales, how the bill of lading in international transactions, bill of lading in cif and fob documentary sales contracts, characteristics of a bill of a lading – is it a receipt?, is it evidence contract of carriage?, – it is document of title, delivery of goods without a bill of a lading, Transfer of contractual rights, Carriage of Goods by Sea Act 1992. Alteration of bills/reissue.
• Payment in International Sales – Instruments used for international sales payments – bills of exchange – possession carries right to claim money comprised in the debt, payment rights embodied in the instrument insulated from certain types of disputes in underlying contract of sale if consideration. Instruments may be negotiable – transferee who gives value takes free from defects of title of transferor.What types of instruments are we concerned with? – Bills of Exchange relevant for instrument of payment but also used in letters of credit. Parties to a bill, statutory requirements of a bill of exchange (s.3 Bills of Exchange Act 1882), incomplete bills, transfer of bills of exchange, who can claim on a bill? Different types of holders, Rights of all holders, who is a mere holder, holder for value, holder in due course. Who is liable on a bill of exchange, types of defences to claims under a bill, impact of defences on holders, defences based on nullity – forgery and unauthorized signatures.
• Letters of Credit (documentary credits) -Problems regarding payment where buyer and seller are in different countries – bill of lading used as part of payment mechanism where bank acts as agent for the issuing of letter of credit facility. -Documentary credits – outline of process.Relationships between the parties – Relationships between the buyer and seller under the contract of sale, Relationships between the buyer and issuing bank, Relationships between the issuing bank and the ad vising/nominated/confirming bank, Relationships between the advising/nominated/confirming banks and the seller. (As this aspect may have been covered in an earlier module I will summarize this – need to talk to the other member of staff) – Characteristics of a credit – strict compliance, autonomy of the credit, fraud in the presentation of documents.
• Arbitration – Commercial Arbitration – nature of arbitration and arbitration verses litigation, types of commercial arbitration, domestic and international arbitration – Arbitration Act 1996, sources of arbitration law, the arbitration agreement, principles of arbitration law – consensual, fairness, avoidance of unnecessary delay, party autonomy, decision according to the law, independence and impartiality, arbitrator must act within his remit, agreement to arbitrate considered separate from primary agreement.
• Effectiveness of agreement to arbitrate, conduct of the arbitration
• Judicial review of arbitral awards and enforcement of an English Arbitral award.
• International Commercial Arbitration.

Learning Outcomes:

• Understand the laws applicable to the international trade in the commodities, including knowledge of the English Legal System, Contract Law, bills of lading, letters of credit and arbitration.
• Apply substantive law and legal reasoning skills to hypothetical cases;
• Understand and appreciate the impact and importance of Law and international trade agreements in these areas;
• Analyse, evaluate and form critical judgements on individual cases and statutes;
• Use primary and secondary sources of law relating to contract law effectively;
• Present coherent and effective argument about issues relating to Banking Law;
• Identify and engage with contemporary debates while accurately reporting the law in an area of the commodity trade.

Assessment:

Assessment will be by a 2,000-word essay on a legal issue that is relevant to the student’s own area of work in commodity related industries.

Module leader: Professor Anu Arora

Professor Anu Arora is a graduate of the University of Birmingham. Anu became interested in Banking Law as an undergraduate student where it was taught as a half module and remained at Birmingham for her postgraduate degree focussing on payments systems and automated money

Starts 30 March 2020

Aims:

This module will examine the key theories of leadership that are applicable to managers within commodity-based industries. It will enable students to reflect on their own leadership practice and aspects that they may need to develop as they move from an operational to strategic context.

Learning Outcomes:

1. Students will be able to apply leadership concepts and theories to critically analyse their leadership practice.
2. Students will be able to develop a personal action plan to address current and future leadership needs.
3. A foundation from which to continually build leadership skills and knowledge.

Teaching and Learning Strategies:

The module will be taught over six weeks using on line interactive materials that will include a podcast overview of content to be covered, an interactive work book for each session and discussion boards. This will be supported by skype/telephone tutorials.

Assessment:

Part A: Using appropriate leadership theory, undertake a reflective evaluation of your leadership practice. (1250 words, 50% weighting)

Part B: Base on the analysis of your leadership practice identify your future leadership needs and the actions you need to take to address them and prepare for future career progression. (750 words plus include an action plan in the appendix, 50% weighting).

Module leader: Dr Sue Minten

Dr. Sue Minten is a senior lecturer in management at the University of Liverpool, teaching modules relating to leadership and professional development and is experienced in delivering on line education. Sue has a PhD from the University of Sheffield, which examined graduate employability and development in the sport industry, she also has an MSc in Leadership Practice and Responsibility from Lancaster University and an MBA. She is accredited by the British Psychological Association to undertake personality and ability assessments, in particular Myers Briggs Typology Inventory (MBTI) and 16 PF and has undertaken executive education with clients as diverse as social workers, football league managers and small business owners.
Sue has published in a number of peer reviewed academic journals on graduate employability and career development, and managing change in elite sport. She is also a co-author of the Routledge textbook: ‘Human Resource Management in the Sport and Leisure Industry’. Prior to entering academia Sue worked in sports facilities management.