ESS422 Introduction to Economics
Paper requirements
Your papers should be concise, but not simplistic. There is no strict minimum length,
recommended length is around 10 pages of A4 format (in any case, total length should not
exceed 15 pages) including all tables, charts, figures and bibliography. Where appropriate you
should also include international comparison.
You are welcome to use qualitative and quantitative means of analysis. Avoid subjective and
normative statements.
Standard academic honesty requirements apply. Preferably use Harvard Referencing System.
Feel free to research both academic and non-academic (credible) resources (e.g. national
energy offices and/or regulators, energy companies (BP, Enerdata etc.), management
consulting companies (such as McKinsey, PwC, AT Kearney etc.) or general
economic/financial reporting (Bloomberg, Thomson Reuters etc.)).
Topics (market analysis):
1) The Nord Pool electricity markets
2) Central and Eastern European oil and gas markets
3) Western European oil and gas markets
4) Saudi Arabia oil industry
5) US natural gas market
6) Australian coal industry
7) Sub-Saharan Africa oil and gas industry
What you should cover in your paper (illustrative non-exhaustive list):
• Market Identification
o Size of the market (physical volume and monetary value), product definition,
major participants, area, potential substitutes (incl. your estimate of substitutes'
capacity)
• Price, Supply and Demand Characteristics
o Price development, growth rates and volatility, market trends, profitability or
average rate of return, government subsidies
• Trade
o Trading channels, types of contracts (retail and wholesale), structure of the
trading (OTC, stock exchange etc.), regulations and limitations
• Cross Border Flows
o Operation, volumes, limitations, congestion, major import and export partners
and structure
• Challenges, Issues & Prospects
o Upcoming changes and events, threats, opportunities