ECN280 Energy Economics
Showing course contents for the educational year starting in 2017 .
Course responsible: Torstein Arne Bye, 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: 2004V
1) Introductory lecture with an overview over energy markets. 2) Electricity market with emphasis on hydro power and use of water in reservoirs. 3) From free competition to market power in energy markets. 4) Energy and climate policies and their impacts on energy markets. Interactions between policies. 5) Special issues relating to the gas market. 6) Special issues related to the oil market. 7) Special issues related to renewable energy and technological progress
The students should: - Have knowledge about crucial issues related to production, sales, trade and taxation of different energy goods in a liberalized energy market - Derive and analyze the market equilibrium in a hydro-based electricity system by using economic models, and understand what is determining the hydro power producers' choice of production level - Analyze and understand how market power may affect energy markets - Analyze and understand the effects of different energy and climate policies for the energy markets - Have knowledge about special issues relating to the oil market, the gas market, and the prospects for renewable energy
Lectures, exercise sessions, independent study. Three compulsory exercises must be approved
Exercise sessions. Web support.
Førsund, F. R. (2007): Hydropower Economics. International Series in Operations Research and Management Science, ISOR 112, Springer 2007. ISBN 978-0-387-73026-4
In addition, selected articles / book chapters.
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