Fundamental issues related to energy resources and the economic
concepts and tools relevant to their allocation and use.
Renewable and non-renewable energy resources are discussed, as
are the opportunities for and challenges to moving to cleaner
sources of energy.
Additional Requirements for Graduate Students: Beyond the requirements for undergraduate students, Graduate students will have additional readings and will complete two policy presentations and a term paper.
Athena Title
Energy Economics
Prerequisite
(AAEC(ENVM) 3020 or AAEC 3020E) and (AAEC 2580 or AAEC 2580E or ECON 2106 or ECON 2106E or ECON 2106H)
Semester Course Offered
Offered spring
Grading System
A - F (Traditional)
Student learning Outcomes
Students will evaluate real-world issues related to energy, climate change, and the environment
Students will assess the viability of a US renewable energy resource to meet future electricity demands by analyzing its technical potential and current development stage
Students will model the impact of physical constraints and economic variables on the profitability of solar investments
Students will assess the linkages between crude oil supply chains, oil prices, gasoline supply chains, and gasoline prices, as well as the market impacts of various supply and demand shocks
Students will actively identify economic dispatch of electricity generating assets associated with wholesale electricity auctions while accounting for physical constraints of the electrical grid
Topical Outline
Introduction, Basic Energy Concepts, Energy Use Trends
Static Efficiency in Competitive Markets
The Importance of Time: Dynamic Efficiency in Competitive Markets
Market Failures: Externalities and Non-Competitive Markets
Tackling Climate Change: International, National, and Sub-National Policy Efforts
Oil Markets, Dominant Firms, and Petroleum Products
