Energy Economics

This module covers the following topics: Economics of energy markets Analysis of producer strategies Analysis of consumer behavior Fundamentals of primary energy markets Fundamentals of electricity markets Analysis of network industries Network regulation Microeconomics Game theory Econometrics Energy policy

Students are able to explain and to differentiate different market structures (at wholesale, transportation and retail level) in energy markets, e.g. in gas, coal, oil and power markets. Furthermore, they are able to summarize and compare different strategies and behavior of producers and consumers, as well as on different forms of regulation of network industries. Students are also able to discuss and apply theoretical and empirical methods to selected topics in energy markets. With these tools student will thus be able to analyze and assess recent energy market developments, such as for instance the energy transition.

The module entails a final written exam (120 minutes). The exam is a closed-book exam. By answering the questions students show their ability to differentiate and evaluate different market structures (at wholesale, transportation and retail level) in energy markets, e.g. in gas, coal, oil and power markets. Moreover students show their ability to discuss and apply theoretical and empirical methods to selected topics in energy markets. They show that they are able to analyze and assess recent energy market developments, such as for instance the energy transition, using the theoretical and empirical tools they have acquired.

Courses at TUM or elsewhere in microeconomics and introductory statistics or econometrics

The module is a lecture consisting of PowerPoint presentations so as to offer and explain to students all different topics covered in this module. A guest lecture is planned in which practitioners present on selected topics in energy markets. The exercise course comprises different problem sets that discuss problems covered during the lecture. Problem sets are solved individually or in group work and, supported by a presentation, derived and solved jointly with the tutor.