ECN280 Energy Economics
Showing course contents for the educational year 2018 - 2019 .
Course responsible: Knut Einar Rosendahl
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN
Teaching exam periods:
This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.
Course frequency: Annually
First time: Study year 2004-2005
The course consists of three main parts: 1) Fossil fuels; 2) Power market; and 3) Energy, environment & technology.
1) Fossil fuels: Special focus on the oil market (incl. OPEC's behaviour), the European gas market, and theory about non-renewable resources.
2) Power market: Special focus on hydro power and use of water in reservoirs, and interactions with intermittent power and thermal power (e.g. gas power).
3) Energy, environment & technology: Special focus on energy and climate policies and their effects in the energy markets, and the importance of new energy technologies.
- Insight in international energy markets, incl. important driving forces for the development of these markets as well as crucial issues
- Insight in the Norwegian power market, incl. important driving forces for the development of this market as well as crucial issues
- Knowledge about important energy and climate policies, as well as new energy technologies, and how these may affect the energy markets
- Able to analyze and understand how different driving forces may affect the energy markets.
- Able to analyze and understand how market power can affect energy markets, and what characterizes markets for non-renewable resources.
- Able to analyze the market equilibrium in a hydro-based power market by using economic models, and understand what affects the power producers' choice of production.
- Able to analyze and understand the effects of different energy and climate policies in the energy markets.
Lectures, exercise sessions, independent study. Three compulsory exercises must be approved
Exercise sessions. Web support.
Selected articles and book chapters, incl. parts of the following books:
Førsund, F. R. (2007): Hydropower Economics. International Series in Operations Research and Management Science, ISOR 112, Springer 2007. ISBN 978-0-387-73026-4
¿Battacharya, S.C. (2011): Energy Economics. Concepts, Issues, Markets and Governance, Springer. Freely available on the internet¿
The syllabus will be handed out at the first lecture (see also web-site for the course)
Intermediate Microeconomics (e.g. ECN210 or ECN211).
Three compulsory exercises must be approved.
Written examination, 3,5 hours (100%).
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
Type of course:
Lectures 2-4 hours per week. Exercise sessions 0-2 hours per week.
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Allowed examination aids: B1 Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått