Energy markets are analysed with an emphasis on the electricity market. Issues surrounding energy economics and climate change, energy efficiency and policy measures to promote renewable energy sources are also discussed. This course discusses regulation and market design issues for energy and carbon markets. Natural resource economics and electricity markets are covered in depth. The world oil market is analysed as well.
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By the end of this course, students will be able to: Understand the factors that influence world energy markets. (Capability 1) Apply the theory developed to analyse resource markets and understand the limitations of the models. (Capability 1 and 2) Work to prepare and present to class on a topic of your choice. (Capability 1, 4.1, 4.2, 5.1 and 6) Understand Understand the theory of electricity markets and critically engage with market design issues and policy questions. Understand the theory of electricity markets and critically engage with market design issues and policy questions. Understand the theory of electricity markets and critically engage with market design issues and policy questions. the theory of electricity markets and critically engage with market design issues and policy questions. (Capability 1, 2, 3 and 4.3) Understand the economics of climate change and the ethical questions that arise. (Capability 1, 2 and 6)