F1IE 4005 - Energy Economics

This course provides students with an overview of energy economics. After introducing the concepts and measures related to energy, we discuss the role of coal in the industrial revolution. We study then the international crude oil market and the dynamics of oil price formation. Following, natural gas economy is examined, through its heavy infrastructures and its complex contracts. We describe the essential features of the electricity markets, matching demand and supply in real-time. Reviewing the reasons and effects of carbon pricing on the energy sector, we investigate more deeply carbon markets mechanisms. The rise of renewable energies, as solar and wind power, is then addressed. Lastly, recent major events with important implications for the energy sector are discussed.
Learning Outcomes:
1. Strong knowledge of economics drivers of energy markets
2. Introductory Economic modelling application to understand model usage application
3. Knowledge of pricing strategies in energy markets
Professional Skills:
1. Research & Analysis: Students will be able to gather and analyze relevant information to increase understanding on energy and environmental topics.
2. Critical thinking: Students will be able to engage in reflective and independent thinking on energy transition topics.
3. Problem solving: Students will be able to use generic or ad hoc methods in an orderly manner to find solutions in energy transition issues.

Edouard CIVEL,Anna CRETI

Séminaire

English

Course workload:
- In Class Presence: 2 hours a week / 24 hours a semester
- Reading and Preparation for Class: 2 hours a week / 24 hours a semester
- Research and Writing for Individual Assessments: 3 hours a week / 36 hours a semester

Autumn 2022-2023

Assessment:
50% Common Final Exam (exercises and open questions).
40% Home Individual Assignment (summary and analysis of a research paper).
10% Class Participation.