Energy Economics: The Tools (By Distance Learning) module (CP50038)

This module explores the demand-side of energy sector and the supply-side economics. A good understanding helps you appreciate the quality, quantity, and corresponding variations in energy demand through the day, week, months, and years to select appropriate supply sources, including low carbon technologies, economically.

Under the demand side, it presents the concepts of energy balance and its analysis, the stages of demand decision process, micro-economic basis of demand, evolution of demand, demand forecasting, and demand management.

Under the supply side, it discusses the difference between economic and financial evaluation of projects, the economic decisions related to upstream activities for fossil fuel supply, energy markets, electricity supply in short and long-term and interaction of demand and supply for integrated analysis.

What you will learn

In this module, you will learn:

• energy data analysis
• the stages of demand decision process and the micro-economic basis of demand
• energy demand forecasting
• energy demand management
• economic analysis of projects
• supply of fossil fuels
• economics of electricity supply
• supply and demand interaction

By the end of this module, you will be able to:

• identify an appropriate approach or tool to be used to analyse electricity demand and supply
• formulate relevant questions on the economics of upstream and downstream activities and apply basic economic tools to analyse the problem
• make informed judgements in an unpredictable variety of professional situations given incomplete or inconsistent information in energy sector
• participate in debates on the sector issues and communicate in writing clearly and concisely

Assignments / assessment

• coursework (50%)
  • research paper (3,000-4,000 words)
• final exam (50%)
  • online open-book exam

Teaching methods / timetable

You will learn by distance learning using our virtual learning environment, My Dundee.

Learning material is provided through a study guide, core reading, tutorial questions and case studies.