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Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS ECN 5060 ENERGY MARKET MODELING 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 aim of this course is to investigate energy markets from modeling perspective. In this course it will be mainly shown how to apply dynamic optimization techniques to different energy markets.

Learning Outcomes of the Course Unit

1   Understand economic aspects of energy markets 2   Be familiar with energy market modeling approaches 3   Be able to apply dynamic optimization techniques to energy markets 4   Be familiar with economic and political solutions to different energy issues

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description 1 Introduction: Global Energy Markets 2 Microeconomic foundations of energy markets 3 Microeconomic foundations of energy markets 4 Optimization and Equilibrium 5 Optimization and Equilibrium 6 Optimization and Equilibrium 7 Energy Markets Modeling 8 Energy Markets Modeling 9 Energy Markets Modeling 10 Energy Markets Modeling 11 Energy Markets Modeling 12 Energy Markets Modeling 13 Energy Markets Modeling 14 General Evaluations

Recomended or Required Reading

S.A. Gabriel, A.J. Conejo, J.D. Fuller, B.F. Hobbs, C. Ruiz, 2013. Complementarity Modeling in Energy Markets, Springer

Planned Learning Activities and Teaching Methods

1. Lectures 2. Class Discussions

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA 1 MTE MIDTERM EXAM 2 FCG FINAL COURSE GRADE 3 FCGR FINAL COURSE GRADE MTE * 0.40 + FCG* 0.60 4 RST RESIT 5 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.40 + RST* 0.60 *** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

1. Midterm 2. Final Exam

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 istemi.berk@deu.edu.tr

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours) Lectures 14 3 42 Preparations before/after weekly lectures 14 2 28 Preparation for midterm exam 1 30 30 Preparation for final exam 1 45 45 Midterm 1 2 2 Final 1 2 2 TOTAL WORKLOAD (hours) 149

Contribution of Learning Outcomes to Programme Outcomes

PO/LO PO.1 PO.2 PO.3 PO.4 PO.5 PO.6 PO.7 PO.8 PO.9 PO.10 LO.1 5 LO.2 4 5 3 5 LO.3 5 5 4 LO.4 5