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Development of oil and the impact on modern society
Khlyustova, Anastasia ; Cibulka, Jakub (advisor) ; Janda, Karel (referee)
The aim of this thesis entitled Development of oil and the impact on modern society is to analyze the evolution of oil prices, to describe the factors affecting it, identify strengths and weaknesses, and try to dismantle existing models of prediction. The important part is the valuation of the forecasts. Selected problem is solved using data and models provided by large institutions such as the IMF, World Bank, etc. Final summary was devoted to compare and analyze those models which are considered to be the most reliable. There were also included ideas of the author regarding the future development of prices. Also, it has been argued, if after all it is still possible to predict future price trends, either based on futures markets, the available media information or econometric models.
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