1. SETTING THE OIL MARKET RIGHT ELENA PETROVA HIGHER SCHOOL OF ECONOMICS MOSCOW, RUSSIA

2. 1. Pre-Simulation Stage 2. Simulation Time 3. Debriefing The Outline of OPEC Conference Simulation

3. The Simulation Background February-April, 2011: 1. class discussions of the Middle East unrest 2. analysis of the articles 3. preparing talks

4. The Simulation Details 1. 3 rd -year students of the Department of World Economy and International Relations 2. April, 2011 3. As a part of Media Classes

5. 1. Introduction into the topic 2. Familiarization with OPEC 3. Preparing the agenda 4. Distributing roles Pre-Simulation Stage

6. 5. Choosing the Chairperson and the Secretary 6. Explanation of the assignment 7. Explanation of the code of conduct and language prompts Pre-Simulation Stage

7. 1. Three groups (G-1, G-2, G-3) 2. 80 minutes 3. Professor – observer, sometimes moderator Simulation Time

8. Reasons for Differences in Outcomes 1. Specialty: a) World Economy and b) International Relations 2. Level of preparation 3. Attitude to simulation 4. Personal characteristics 5. Language skills

9. G-1 Discussion 1. Interconnection between the political disturbance and oil prices 2. Re-arrangement of quotas

10. G-2 Discussion 1. Government taxation on oil and oil products 2. Low investment in the industry 3. Arrangement of OPEC+3 Conference

11. G-3 Discussion 1. The way the development of alternative sources of energy impacts oil market 2. A suggestion for OPEC countries to start producing oil products

12. 1. A talk 2. A survey Debriefing

13. Talk 1. Their expectations 2. The most challenging things

14. Survey Do you see any techniques to improve the way to conduct the conference? 1. Sharing info before the conference 2. Better time management 3. Time limits for contributions 4. The Chair represents no country 5. Shorter agenda 6. Issue speakers

15. Simulations are often described as positive learning experiences for students. They allow students to participate more actively in the learning process and gain a more thorough understanding of the course material [C. Raymond].

16. THANK YOU