Instructional goals
provide historical and analytical foundations for understanding the most important
phenomena of the international and Italian energy system and a global overview of the main policy strategies for the energy transition
Prerequisites
Microeconomics
Intended learning outcomes
The student - acquiring the correct tools and method - will be able to interpret, apply and present the reference interpretative models, but also develop practical projects on the energy system in a systematic way, solving business problems of: demand, supply, costs, organization of markets, institutional interventions and regulation, in the context of the international markets and the energy and environmental policies. The student, through the use of the methodologies acquired during the course, will have acquired problem analysis skills and the ability to identify the information necessary for their solution. At the end of the course the student will be able to use the business and technical vocabulary of energy and environmental economics, gaining advanced rhetorical skills necessary for his/her professional career in the energy business. The student will develop a solid knowledge of the fundamental aspects of the subject that will allow him to continue to deepen the topics addressed independently and to undertake the various post-graduate professional training courses, such as Master of Science and MBA.
Course Contents
The program is divided into four parts. The first part focuses upon a deepening of the general economic theory needed to understand the operation of the energy system. The second part shows the theoretical models applied to the energy system. The third part deals with the general analysis of the energy system in a systematic way: demand, supply, costs, organization of markets, institutional
interventions and regulation. In the fourth part there is a deeper analysis of special topics related to international markets and the energy and environmental policies and the current debate on energy transition.
Class discussion is aimed at enlightening some ideas of the current literature for
further reading.
Reference Books
Zweifel Erdmann Praktiknjo, Energy Economics, Springer Verlag Editor, 2017
Bhattacharyya, Subhes C., Energy Economics, Concepts, Issues, Markets and
Governance, Springer Verlag Editor,
2011, XXVI, 721p
Bigerna S. Bollino C. A. Micheli S, The Sustainability of Renewable Energy in
Europe, Springer, Verlag Editor, 2015, VIII, 137p.
Teaching Methods
Traditional lecture - team works - business games
Assessment Method
Two intermediate written tests 20%, 20%, One final exam 40% individual work executed during the course: paper writing 20%
Thesis assignment criteria
specific interest and preliminary discussion with the student
Week 1
Introduction to energy markets
Week 2
Theory I: monopoly, monopolistic discrimination, oligopoly, market
failures
Week 3
Theory I: asymmetric information, externalities, surplus, welfare analysis
Week 4
Theory II: Hotelling price,target revenue, backstop technology
Week 5
Energy System: energy and energy sources
Week 6
Energy system: energy production
Week 7
Energy system:
mining and transportation
Week 8
Energy system:
optimal generation capacity choice
Week 9
Energy system: energy markets liberalization
Week 10
Oil and gas markets
Week 11
Electricity and gas prices in liberalized energy markets
Week 12
Energy and environmental policy. Renewable energy sources subsidies. Administered and market mechanisms