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Energy economics
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Energy economics
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Anno accademico 2023/2024
- Codice attività didattica
- ECM0200
- Docente
- Valeria Di Cosmo (Titolare del corso)
- Corso di studio
- Laurea magistrale in Economia dell'Ambiente, della Cultura e del Territorio - a Torino [0403M21]
- Anno
- 2° anno
- Periodo
- Secondo semestre
- Tipologia
- Affine o integrativo
- Crediti/Valenza
- 6
- SSD attività didattica
- SECS-P/02 - politica economica
- Erogazione
- Tradizionale
- Lingua
- Inglese
- Frequenza
- Consigliata/Recommended
- Tipologia esame
- Scritto
- Prerequisiti
-
Good English level (the class will be taught in English). Knowledge of statistics/econometrics and microeconomics is strongly reccomended. - Propedeutico a
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Sommario insegnamento
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Obiettivi formativi
Course objectives
The objective of the course is to introduce students to the current issues in energy economics. Through course lectures, class projects and assignments, the students will learn about contemporary issues in energy economics. Some of the topics that students will learn about include: European energy policy, regulation of energy sectors, electricity, gas, heat and renewable energy markets, capital budgeting in regulated and liberalized markets. After successful completion of the course, the students will be capable to critically assess developments in the energy sector. The course will also prove beneficial to those students planning to pursue a career in energy-related positions.
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Risultati dell'apprendimento attesi
Expected learning outcomes
After completing the course, the students will have acquired the following:
- Understanding of the workings of energy markets in general and principles by which European energy policy is reflected in national energy policies.
- Understanding of the challenges linked to the energy transition
- Verbal and written communication: through presenting discussed case studies, the students will improve their communication and presentation skills crucial in today's business world.
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Programma
Schedule
Intro: energy demand and supply
Methods
- Bottom-up
- Top-down
- Econometrics
- Behavioural economics
Intertemporal optimisation and depletable resource allocation
Markets
- Oil
- Gas
- Uranium
- Electricity and renewables
Wholesale electricity markets:
- Introduction: some data and description
- Covid19 and the electricity markets
- How do electricity market work: DA, IM, balancing
- Interconnection between markets
- RES
- Spot market competition
- RES: investment, subsidies and sustainability
- RES and balancing markets
- Flexibility in electricity markets
- Fairness : ho pays for the energy transition?
- MSD, Capacity markets: potential problems and question open
- Forward markets, Market power and competition in electricity markets+ California
Rare materials
- Rare materials and the energy transition
- Recycling
Retail electricity markets:
- Average cost pricing
- Two part tariffs
- Ramsey pricing
- Retail prices and competition
- Demand response and energy efficiency
Optimal investment and cost-benefit analysis
The transport sector and the role of hydrogen
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Modalità di insegnamento
Teaching methods
Class materials (slides, papers etc.) will be available in Moodle.
Classes start on February 19th and will be held monday-tuesday-wednesday 10-12
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Modalità di verifica dell'apprendimento
Evaluation method
There will be a written exam at the end of the course.
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Attività di supporto
Testi consigliati e bibliografia
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- Libro
- Titolo:
- Environmental and Natural Resource Economics 12 edition
- Anno pubblicazione:
- 2024
- Editore:
- Routledge
- Autore:
- Tietenberg and Lewis
- Obbligatorio:
- Si
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- Libro
- Titolo:
- Economics of Electricity: Markets, Competition and Rules
- Anno pubblicazione:
- 2019
- Editore:
- Cambridge University Press
- Autore:
- Creti and Fontini
- Obbligatorio:
- Si
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- Altro
- Titolo:
- Mineral Resources Economics 2:Issues and Action by Levers, Wiley, Fizaine and Galiegue,
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- No
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Books:
Books and papers
In bold, compulsory.
Mineral Resources Economics 2:Issues and Action Levers, Wiley, Fizaine and Galiegue, downloadable in blibiopass. Chapters: 1,6,7,8
Creti and Fontini: Chapters: 3-6, 11,12,13,19,20,24,25, 26
Tietenberg and Lewis, Chapters 3, 5, 6, 7, 8
Papers
Natalia Fabra, The energy transition: an industrial economics perspective available here: http://nfabra.uc3m.es/wp-content/uploads/2020/12/SURVEY_EARIE-FINAL.pdf
Natalia Fabra, The energy transition: an industrial economics perspective available here: http://nfabra.uc3m.es/wp-content/uploads/2020/12/SURVEY_EARIE-FINAL.pdf
Borenstein: http://faculty.haas.berkeley.edu/borenste/download/ElecJo00MktPower.pdf
Twomey and Neuhoff, Wind power and market power in competitive markets, Energy Economics, 2010
IEA, Critical Minerals Market Review 2023 (available online)
JRC, The role of rare earth elements in wind energy and electric mobility
Other resources
World Energy Outlook (WEO) various years. You can download those from the I-OECD section of the virtual UniTo library (access through bibliopass)
IEA, the future of hydrogen, 2019
For people interested in methods&econometrics&simulations (not compulsory):Rafal Weron, Modeling And Forecasting Electricity Loads And Prices: A Statistical Approach
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Note
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