Advanced Energy Economics

Key Info

Basic Information

Studypath:
Master in Business Administration
Semester:
4
Course Type:
Lecture
Language:
English
Cycle:
Summer term
Scheduling:
Entire semester
Course Units:
4.0
Credits:
5.0
Erasmus Capacity:
40
Compulsory Attendance:
No

Lecturer

  • Univ.-Prof. Dr.rer.soc.oec. Reinhard Madlener

The following details taken from the examination regulations MSBWL/13, SMPO 2. Änderungsordnung (zum WS 17/18) are for information purposes only and not legally binding. For legally binding information, please refer to the corresponding official examination regulations of the program Master in Business Administration.

Syllabus

Ever-expanding demand and limited supply will ensure the eventual collapse of the non-renewable fossil fuel economy upon which the modern world is built. At the same time, unrestricted energy use, whether through fossil or biofuels, is a significant contributor to escalating levels of CO2 and other pollutants. Research and investment in alternative sources of energy is growing rapidly, but informed opinion is sceptical of the possibility that we will transition to an economic system built on renewable energy in the near future. In this course we deal with the use of economic theory, policy instruments and modeling to better understand energy markets, and their salient aspects, and on developing a critical understanding of energy and how it impacts our national and global economies.

Objectives

1) Develop awareness of the role of energy in the functioning of today's global economy
2) Explore the dominant theoretical and empirical perspectives on the extraction, use and impacts of energy, especially through demand and supply interactions
3) Acquaint students with common tools used to analyze energy problems. We focus on formal frameworks for static and dynamic analysis.
4) Learn about the pollution problems associated with energy use, as well as the common economic and non-economic instruments used to tackle the problems (energy taxes, tradable permits, green certificates etc.).
5) Introduction to common mechanisms for managing risks related to energy extraction, transport, trading and consumption. These include real options modelling for irreversible investments under uncertainty, forward and futures markets, and derivative products.

Prerequisites

Basic knowledge in Economics (Micro/Macro) and Energy Economics

Examination

Successful examination (100%, graded, 60 min.) or, if no. of participants is <12, alternatively an oral examination in groups of 3-4; (100%, graded, 60min.)

Further Information

No information available in English at the moment.

Literature

No information available in English at the moment.