Advanced Seminar Energy Markets: Electricity Market Economics

Student choose their own research question. Research questions have to be confirmed with the lecturer. All research questions should be motivated by recent and economically relevant topics in electricity markets. Possible research questions are: * renewable support mechanisms (in Germany or selected European countries) * Nuclear power in Europe and the US * Demand management * Market power in power markets Further, questions should leave room for drawing from results from economic theory and / or offer scope for empirical work. Additional information on the full range of possible topics may be found in the pdf on the course outline that is attached to the TUMonline course website.

Successful participation enables students to (1) understand topical economic questions in electricity markets, as well as to (2) analyze these questions using appropriate methods and theories. After a successful participation students are able to (3) define their own research questions, to (4) engage in literature review, and to (5) write a research paper along academic standards. Students thus will become well-equipped with a toolkit useful for writing their Master- thesis.

The module grade is based on a research paper (max. 15 pages, appendix if needed). By writing the research paper students show their ability to analyze an electricity market related topic by using appropriate methods and theories. Furthermore, students demonstrate that they can elaborate their own research question and that they are able to research and work through relevant literature. In addition, students have the possibility to improve their grade by taking a voluntary mid-term assessment consisting of two short presentations (15-20 minutes). By presenting their work-in- progress, students receive feedback for their research paper, they can categorize their progress. With the final presentation students have the possibility to present their results to the audience. Moreover, by presenting their findings in front of the class, students prove that they are able to present the key aspects in a concise manner and that they are able to answer further questions on their presented findings. .

At least one module in the curriculum of the Center for Energy Markets, such as Energy Markets I, II, or Industrial Economics and Regulation of Energy Markets.

Students will learn conducting independent research. They have to find their own research questions related to electricity markets, prepare a literature review, conduct their own theoretical and/or empirical work, and present their findings both in written and oral form (paper plus presentation). Thus the teaching method is based on a dual approach. To this end, active participation and discussion, guided by the lecturer, will be encouraged.