MEB439 Economics of Energy Corporations

Faculty of Social Studies
Spring 2017
Extent and Intensity
2/0/0. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
James Henderson, Ph.D. (lecturer), doc. PhDr. Tomáš Vlček, Ph.D. (deputy)
doc. PhDr. Tomáš Vlček, Ph.D. (lecturer)
doc. Mgr. Filip Černoch, Ph.D. (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.
Supplier department: Department of International Relations and European Studies – Faculty of Social Studies
Timetable
Mon 3. 4. 15:15–18:30 P51 Posluchárna V. Čermáka, Tue 4. 4. 8:00–9:30 U42, Wed 5. 4. 13:30–15:00 exP24, 15:15–16:45 U41, Thu 6. 4. 13:30–16:45 P51 Posluchárna V. Čermáka, Fri 7. 4. 8:00–11:15 U43
Prerequisites (in Czech)
! ESS414 Economics of Energy Corp.
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
In this course we examine the key elements of the global energy economy and how they relate to decision-making at major energy corporations. We start with an overview of the major drivers of the global energy market and the key shifts that are currently underway due to the emergence of renewable energy. We discuss energy demand, oil, gas and coal prices, future scenarios for wind and solar and the impact of energy efficiency. We also discuss the increasing electrification of the energy system and the changing fuel inputs. We then relate all these topics to a series of example investments that could be made by energy companies and consumers, and discuss the key parameters of the decision-making process. We then move onto the geopolitics of energy, discussing the key role of Russia but also including key elements of Middle East policy (especially Saudi Arabia) and the key drivers for consuming countries such as China and India. We also look at the changing energy policy of the US thanks to the emergence of shale oil and gas as well as the election of Donald Trump as president. Students are then set a short essay question, within which they can choose one corporation or country and discuss the impact of the changing energy economy upon it.
Syllabus
  • Lecture 1: The value chains in the oil and gas sector. How companies make money out of finding and developing hydrocarbons Lecture 2: Interaction with the state: Regulation and taxation in the energy sector, and the importance of the institutional framework Lecture 3: IOCs, NOCs and Independents: different corporate models and their interactions in the energy sector. The importance of partnership and competition Lecture 4: Measuring performance in the oil and gas sectors: financial, operational and governance metrics and the drivers of corporate valuation Lecture 5: The changing economics of hydrocarbons in a de-carbonising world: the impact of carbon targets and renewable energy on international oil companies. The importance of government policy as a driver of economic value. Lecture 6: The Russian oil sector and its impact on global oil markets Lecture 7: The Russian gas sector and its impact on the global gas market Lecture 8: The geo-politics of Russia's energy sector: commercial logic versus economic weapon, and the role of politics in Russia's energy strategy
Teaching methods
Lectures, class discussions, essays
Assessment methods
Attendance, written essay
Language of instruction
English
Further Comments
Study Materials
The course is taught annually.
Listed among pre-requisites of other courses
The course is also listed under the following terms Autumn 2017, Autumn 2018.
  • Enrolment Statistics (Spring 2017, recent)
  • Permalink: https://is.muni.cz/course/fss/spring2017/MEB439