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BU5053: INTRODUCTION TO ENERGY ECONOMICS (2024-2025)

Last modified: 06 Aug 2024 16:46


Course Overview

This course introduces key techniques from economics and finance to allowing understanding of the basics of business decision making within the energy industries and the economic implications of key energy policies. We consider basic financial concepts such as: present value, the opportunity cost of capital and their role in business decision making in energy industries. We also consider key economic elements of markets and how the economic environment structures the way in which businesses make decisions and energy market outcomes.

Course Details

Study Type Postgraduate Level 5
Term First Term Credit Points 15 credits (7.5 ECTS credits)
Campus Aberdeen Sustained Study No
Co-ordinators
  • Professor Frans de Vries

What courses & programmes must have been taken before this course?

  • Any Postgraduate Programme (Studied)
  • One of Master Of Science In International Political Economy or Master Of Science In Strategic Studies & Energy Security (Sept Start) or MSc Energy Politics and Law or Master Of Science In Energy Transition Systems And Technologies or MSc Oil and Gas Enterprise Management or MSc Reservoir Engineering

What other courses must be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

Introduction to energy markets

Oil: History of the world oil market, Natural resource depletion, Hubert Curve and Peak Oil. OPEC.  Electricity:  Industry Structure, Ownership, Regulation and Reform in the UK. 

Understanding Markets   Introduction to the Economics of Consumer and Producer Behaviour Oil Supply and Demand Curves Price Determination: Recent oil market behaviour.

Wholesale Electricity Markets:   Peaking Load Prices and Market Efficiency.  “Missing Money” Problem.    Understanding UK Electricity Market Reform.   

Investment Appraisal Techniques and Project Evaluation.  The Economics of Renewable Energy Projects: Project Economics in Petroleum Economics and the role of the Government :   

Energy and the Environment:  Market Failure and Global warming.  


Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers


Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

Policy Brief

Assessment Type Summative Weighting 75
Assessment Weeks Feedback Weeks

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2,500 words

Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Class Test - Multiple Choice Questions

Assessment Type Summative Weighting 25
Assessment Weeks Feedback Weeks

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Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Formative Assessment

There are no assessments for this course.

Resit Assessments

Essay

Assessment Type Summative Weighting 100
Assessment Weeks Feedback Weeks

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3,000 words

Word Count 3000
Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
FactualRememberILO’s for this course are available in the course guide.

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