Energy Markets (ECON90081)

Intended learning outcomes

On completion of this subject, students should be able to:

• Describe what drives supply and demand in competitive energy markets.
• Understand the costs and benefits of alternative regulatory structures for energy utilities.
• Explain whether consumers pay too little or too much for electricity and why.
• Discuss the role of market power and antitrust broadly and in the energy industry specifically.
• Critically evaluate proposed energy market reforms and climate policy interventions.
• Explain how intermittency and reliability affect the optimal mix of fuels in the clean energy transition.
• Discuss trade-offs between utility-level and distributed generation.
• Understand economic issues associated with emerging markets for green energy.
• Evaluate policies designed to ensure that the clean energy transition is equitable and affordable.

Generic skills

• High level of development: oral communication; written communication; application of theory to practice; critical thinking; synthesis of data and other information; evaluation of data and other information.
• Moderate level of development: collaborative learning; problem solving; team work; statistical reasoning; interpretation and analysis; accessing data and other information from a range of sources; receptiveness to alternative ideas.
• Some level of development: use of computer software.