ESS414 Economics of Energy Corporations

Faculty of Social Studies
Spring 2015
Extent and Intensity
2/0/0. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
doc. Mgr. Filip Černoch, Ph.D. (lecturer)
Ing. Vladimír Hajko, Ph.D. (lecturer)
Ing. Mgr. Václav Šebek (lecturer)
Guaranteed by
doc. Mgr. Filip Černoch, Ph.D.
Department of International Relations and European Studies – Faculty of Social Studies
Contact Person: Olga Cídlová, DiS.
Timetable
Mon 20. 4. 11:30–13:00 Studio 527, Tue 21. 4. 17:00–18:30 U35, Wed 22. 4. 15:15–18:30 P52, Fri 24. 4. 9:45–11:15 P52
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
This course provides an introduction to the operations and specifics of energy corporations. The course introduces the students to various theoretical and empirical investigations of the energy demand, energy supply, energy prices and public policies related to the energy corporations and energy markets. At the end of this course, students will be able to understand and explain the energy market operation, analyze the related economic problems and explain the consequences of market changes.
Syllabus
  • Introduction (Theory of natural monopoly, Utilities, Cartel with a Leader Energy markets’ specific factors, Energy demand, Energy Supply)
  • Energy Accounting, Energy Markets, Energy Pricing (balances, flows, conversion factors, intl. markets, , consumption and production equivalence, energy indicators, pricing)
  • Energy investments (energy market specifics, NPV, IRR, Returns, Cost Benefit Analysis, fixed and sunk costs, Break-Even Point, interest rate sensitivity)
  • Depletable resources (scarcity, non-renewable and renewable resources, definitions, sustainability, Malthusianism, Hotelling's rule, optimal allocation, Peak Oil)
  • Regulation and Governance (traditional regulation, price cap, revenue cap, yardstick competition)
Literature
    recommended literature
  • BHATTACHARYYA, S C. Energy Economics: Concepts,Issues, Markets and Governance. 2011, 721 pp. ISBN 978-0-85729-267-4. info
  • KEPPLER, J H, R BOURBONNAIS and J GIROD. The Econometrics of Energy Systems. New York: PALGRAVE MACMILLAN, 2007, 266 pp. ISBN 978-1-4039-8748-8. info
Teaching methods
Lessons/seminars
Assessment methods
Seminar paper, written exam
Language of instruction
English
Further Comments
Study Materials
The course is taught annually.
The course is also listed under the following terms Spring 2016.
  • Enrolment Statistics (Spring 2015, recent)
  • Permalink: https://is.muni.cz/course/fss/spring2015/ESS414