Analytical Tools for Energy Economics module (CP51003)

This module will introduce the economic principles relevant to the energy sector. It will provide an overview of the tools typically used in performing economic analysis in the energy sector.

You will learn about the essential concepts and frameworks central to the operation and expansion of the energy sector. This will cover their economic implications and the basic economic tools for analysing them.

What you will learn

In this module, you will:

• understand where energy is being used and how it can be optimised
• predicting future energy demand is essential for planning purposes
• develop strategies to manage energy demand efficiently
• understanding how energy resources are produced
• analyse energy supply under perfect competition. This will help in understanding market equilibrium and price determination
• analyse energy supply under imperfect competition. This will involve considering market power, barriers to entry, and regulatory policies
• understand the relationship between energy markets and macroeconomic factors

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

• articulate a critical understanding of specialised theories, principles, or concepts in energy economics
• demonstrate a critical analysis, evaluation, or synthesis to energy sector issues. These will be informed by frontier developments in the microeconomics literature
• critically review, consolidate, or extend the knowledge, practices, or thinking in energy economics

Assignments / assessment

• quiz 1 (20%)
• quiz 2 (20%)
• project report (60%)

This module does not have a final exam.

Teaching methods / timetable

• lectures
• lab sessions