Course code ECN280

ECN280 Energy Economics

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Showing course contents for the educational year starting in 2019 .

Course responsible: Knut Einar Rosendahl
Teachers: Anders Dugstad, Olvar Bergland
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
Teaching exam periods:
This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.
Course frequency: Annually
First time: 2004V
Preferential right:
None
Course contents:

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.

Learning outcome:

Knowledge goals:

  • 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

Skill goals:

  • 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.
Learning activities:
Lectures (incl. several guest lectures), exercise sessions, independent study. Three compulsory exercises must be approved
Teaching support:
Exercise sessions. Web support.
Syllabus:

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. 

The syllabus will be handed out at the first lecture (see also web-site for the course)

Prerequisites:
Intermediate Microeconomics (e.g. ECN210 or ECN211), and introductory course in mathematics (e.g. ECN102)
Recommended prerequisites:
Mandatory activity:
Three compulsory exercises must be approved. Mandatory activity is valid until next time the course is offered.
Assessment:
Written examination, 3,5 hours (100%).
Nominal workload:
300 hours
Entrance requirements:
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 2 hours per week.
Note:
The course is in English. Incoming students can contact student advisors at the School of Economics and Business (studieveileder-hh@nmbu.no) for admission to the course. 
Examiner:
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