The availability of energy raw materials (coal, oil, gas) is crucial for the development of national economies. The question how societies should use these energy sources is highly topical, because environmental issues play a more and more important role. As such, the combustion of fossil fuels leads to the emission of harmful substances like sulfur and furhter emit CO2 into the atmosphere, which is the main cause of climate change.
But also the finite amount of energy sources, potential interactions with the ecological system as well as technical characteristics demand a different calculation in the economics of energy than is the case for "typical" goods. Absence of optimal market results make political regulation necessary, for example in the electricity market, where access to the pipeline network is decisive.
The functioning of oil markets, gas markets and electricity markets are the main topics of this field of study. Simulation models are applied to evaluate the economic effects of political regulation in these markets on a macroeconomic-level. Respective corporate strategies are derived on the microeconomic-level. In the elective modules you will learn
- how energy markets and resource markets work
- how different energy raw materials are used efficiently
- which forms of management are suitable
- how competing ecological and economic targets are treated
- how different behaviors could be regulated sensibly
The module “Resource Economics” deals with energy as main production factor for modern national economies and investigates the come up, the transformation and the use of energy raw materials. It conveys a basic overview about the main topics of resource economics, which are the energy problem and energy balance, energy sources as exhaustible resource and energy use and the environment problem. Focus is placed on markets for energy carriers (coal, oil, gas, uranium, renewable energies). In the tutorial applied problems and examples will be discussed. The module takes place every winter term in German language and the examination is a one-hour-exam at the end of the semester, which is worth 6 ETCS.
The module “Energy Economics” concentrates on energy demand and energy supply, especially on characteristics of the electricity market. It provides a basic overview of the electricity industry and the market structure of grid-bounded energy carriers (electricity and gas). Additional topics are theoretical foundations and the practice of energy policy as well as the groundwork of energy economic modelling. Furthermore, current problems of the energy industry will be discussed in the lecture. In the tutorial applied problems and examples will be discussed. The module takes place every summer term in German language and the examination is a one-hour-exam at the end of the semester, which is worth 6 ETCS.
Environmental and Climate Change Economics
The topics of the modules “Resource Economics” and “Energy Economics” will be connected with current political and economic problems in the field of Environmental Economics and Climate Change Economics. Students write a seminar paper (15 pages) on a subject, chosen from a set of topics, and tater present the paper in the seminar (30 min), followed by a short discussion (15 min). The block-seminar will take place at the mid or the end of the semester and attendance is mandatory. The final grade is the weighted average from the Seminar Paper (70%) and the presentation and discussion (30%).
The module is provided every semester. The seminar paper can be written in English or German. The presentation has to be in English. The main topic alternates between Climate Economics (summer term) and Environmental Economics (winter term). The set of topics will be released at an early stage, so that you can start with the preparation in the time between terms.
There are no prerequesites to visit this module, but prior knowledge from modules “Energy Economics” or “Resource Economics” is recommended. Registration and coordination will be via E-Mail with your supervisor, but students additionally need to register at the exam office for the early exam period. This module is worth 6 ECTS.