Facts about the course
- ECTS Credits:
- 7.5
- Responsible department:
- Faculty of Logistics
- Course Leader:
- Katerina Shaton
- Lecture Semester:
- Spring
- Duration:
- ½ year
LOG776 Economics of Energy Value Chains (Spring 2024)
About the course
The course covers the following topics:
-
Fundamentals of Energy Economics: Market design. Market failure and externalities. Competition vs regulation. Energy infrastructure: natural monopolies. Public/private ownership and operation. Market equilibrium modelling. Socio-economic analysis.
-
Economics of Conventional Energy Sources: Oil: cartels, price formation. Natural gas: costs, price regulation, transport infrastructure. Coal: connection with electricity generation. Economics of nuclear energy.
-
Economics of Alternative Energy Sources: Solar and wind: subsidies. Hydropower and geothermal energy. Economic analysis of future energy-mixes.
-
Electricity Markets and Regulations: The electricity value chain and its connection with the primary energy sources. Rate-of-return regulation, marginal cost pricing, peak-load pricing. Regulation and deregulation. Energy efficiency.
-
Energy Policy and Environmental Policy: Energy security. Energy externalities. Carbon trading. Energy transition. Trade-offs between efficiency, equity, and sustainability. Appraisal of energy infrastructure development.
The course is connected to the following study programs
- Master of Science in Logistics
- Master of Science in Sustainable Energy Logistics
- Exchange programme - Master's level
Recommended requirements
LOG775 Energy Analytics and Sustainable Technologies and SØK710 Industrial Organization or equivalents to these courses.
The student's learning outcomes after completing the course
Knowledge
Upon completing this course, the candidate:
-
Has an in-depth understanding of energy value chains, from primary energy sources to final consumption, which form a complex interdependent energy system
-
Has knowledge of the global markets for petroleum and renewables, and how they are affected by environmental policies
-
Can demonstrate knowledge of economic concepts undelying energy production and use
-
Will be able to critically assess theoretical models and their usefulness for analysing the real energy markets
-
Can analyze and discuss questions related to energy efficiency versus economic efficiency
Skills
The candidate is able to:
-
Apply theoretical tools of economics to structure and analyze real-life problems related to interactions in energy markets
-
Apply the methodology of Cost-Benefit Analysis for socio-economic analysis of investments in energy infrastructure
-
Use software tools (GAMS) for modelling of energy markets and can use the results for analysis of practical problems
General competence
The candidate can:
-
Compehend and presents results from international research on energy markets
-
Reflect on environmental consequences of energy production and use
-
Orientate themselves in the international discourse of the future energy mix
-
Identify relevant academic and non-academic sources for their own studies
Forms of teaching and learning
Three hours of lectures per week; 2-3 sessions in computer class during the semester, if there are requests for that
Coursework requirements - conditions for taking the exam
-
Obligatorisk arbeidskrav: Oppgave(r)
-
Antall arbeidskrav: 2
-
Påkrevde arbeidskrav: 2
-
Fremmøte: Ikke påkrevd
-
Kommentar: Both assignments should be submitted and approved in order to be admitted to the final exam.
Examination
-
Vurderingsform: Skoleeksamen
-
Andel: 100%
-
Varighet: 4 timer
-
Gruppering: Individuell
-
Karakterskala: Bokstavkarakter (A - F)
-
Hjelpemidler: Calculator with empty memory + general dictionary native language/Norwegian/English in paper format