This requires you to examine and explain how cash and futures oil price volatilities have affected the equity prices for bank and energy sector stocks over the last 10 years. Your discussion should include findings from the past literature. Some of you (the ones that have opted to perform an empirical analysis) have indicated that the number of countries may be too many and a benchmark index for banking and energy sector may not be available for some countries/markets. As a result, I am allowing students to select any 5 countries from the ones listed in the question. Where a relevant index is not available you may use the MSCI world index. Another approach could be to develop your own index for the banking and equity sector. This can be done in the following way:
Obtain share prices of top 5 to 10 companies (within the aforementioned sectors) by market value or total asset size of the company.
Construct a portfolio of stocks comprising of these companies where each stock is allocated a weight. The weights can be based on market value or it can be an equally weighted portfolio.
With the resulting portfolio you can now analyze the relationship between oil price volatility and equity prices from these sectors. While an empirical analysis is not necessarily required for this question, students can support their discussion with a simple analysis (graphical, correlation, regression analysis etc). However, a discussion the findings from the past studies (i.e. academic journal papers) is required at the minimum.