COURSE UNIT TITLE

: ENERGY ECONOMICS

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
ECN 5055 ENERGY ECONOMICS ELECTIVE 3 0 0 6

Offered By

Economics (English)

Level of Course Unit

Second Cycle Programmes (Master's Degree)

Course Coordinator

ASSOCIATE PROFESSOR ISTEMI BERK

Offered to

Economics (English)

Course Objective

The main aim of this course is to introduce the economic aspects of supply and demand in global energy markets. It examines the dynamics of primary energy, fossil fuel and renewable, and secondary energy, electricity, markets in detail. It also covers the topics such as energy demand, the linkages between energy and economic performance, the role of government, public policies, taxes and subsidies and social welfare. The course is designed to teach students to establish connections between most important issues in global energy markets and theoretical and applied aspects of economics science.

Learning Outcomes of the Course Unit

1   Demonstrate understanding of principle economic aspects of supply and demand in global energy markets.
2   Utilize microeconomic models to explain how the markets of different energy sources work.
3   Identify market failures in energy industry including market power and externalities
4   Become familiar with global institutions affecting energy markets, the governments role and public policy issues related with the energy market

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 An Introduction: Scientific background and basics of global energy system
2 Primary Energy Supply and Markets for Energy Resoures
3 Primary Energy Supply and Markets for Energy Resoures
4 Secondary Energy Supply and Electricity Market
5 Secondary Energy Supply and Electricity Market
6 Energy Demand
7 Energy Demand
8 Role of Governments and Regulations
9 Energy and Environment
10 Financial Energy Markets
11 Presentations
12 Presentations
13 Presentations
14 Presentations

Recomended or Required Reading

Carol A. Dahl, International Energy Markets: Understanding Pricing, Policies, and Profits, Tulsa: Pennwell, 2004.
There will also be some recommending readings for each topic. List of material will be provided later.

Planned Learning Activities and Teaching Methods

1. Lectures
2. Class Discussions
3. Presentations

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MTE MIDTERM EXAM
2 PRS PRESENTATION
3 FIN FINAL EXAM
4 FCG FINAL COURSE GRADE MTE * 0.30 + PRS * 0.30 + FIN * 0.40
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.30 + PRS * 0.30 + RST* 0.40


*** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

1. The learner will clearly define the current energy market trends and principle economic aspects of energy supply and demand.
2. The learner will define microeconomic models related with markets of different energy sources.
3. The learner will identify the linkages between energy and macroeconomic performance.
4. The learner will identify governments role in energy markets and public policies towards energy markets.

Language of Instruction

English

Course Policies and Rules

Attending at least 70 percent of lectures is mandatory.

Contact Details for the Lecturer(s)

Asst. Prof. Dr. Istemi Berk

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 10 3 30
Student Presentations 4 3 12
Preparations before/after weekly lectures 13 3 39
Preparation for midterm exam 1 21 21
Preparation for final exam 1 25 25
Preparing presentations 1 17 17
Midterm 1 2 2
Final 1 2 2
TOTAL WORKLOAD (hours) 148

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10
LO.154
LO.254
LO.3454
LO.45