Economics of Energy

Aim of the course:
This course is an energy economics course not a general energy policy course. It will cover a variety of theoretical and empirical topics related to energy demand, energy supply, energy prices, environmental consequences of energy consumption and production, and various public policies affecting energy demand, supply, prices, and environmental effects. It is a new course and, as a result, it will have an experimental character to it. This course will raise the awareness of the micro issues associated with energy in addition to the critical contribution of energy to our domestic & international economy.
The course will enable students to list factors accounting for the complexity of the energy sector and the multi-dimensional interactions of the energy industry. It environmental and energy issues from an intermediate microeconomics perspective by discussing fundamental concepts in energy economics including cost-benefit analysis and economic valuation of the environment. We also explore issues of policy design from an efficiency perspective.

Learning Outcomes:
Upon completion of the course requirements, the students will understand:
- The basic energy issues, and the energy business
- The tools required for energy analysis and provide its microeconomic foundations
- The Energy pricing and markets
- The relation between energy and the environment
- The role of the energy industry in the global and domestic economy.
- The ways to forecast the demand and supply of energy
The assessment of the oil and gas markets