Economics of Energy & Transport Systems (ECON30011)
Undergraduate level 3Points: 12.5Not available in 2025
About this subject
Overview
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This subject addresses two key components of the clean energy transition: energy systems and transportation systems. It provides a comprehensive understanding of both types of networks and associated markets, with a focus on understanding government regulation designed to promote efficient investment in and operation and use of energy and transport services, as well as policies designed to mitigate the impact of the production and consumption of these services on the environment. Topics include market power and regulation, energy transportation and storage, cost-reflective pricing, renewable energy subsidies, crude oil prices and cartels, economic valuation of travel time and reliability, road congestion, tolls and fuel taxes, energy and fuel efficiency standards, competition among different transportation modes, and the economic implications of emerging technologies such as smart metres, household-level solar and batteries, and electric and autonomous vehicles.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Explain the economic fundamentals shaping energy and transportation industries and policies;
- Analyse the pricing strategies in energy and transportation markets and their impact on consumers, businesses, and the economy;
- Critically evaluate the pricing of externalities;
- Describe the role of government intervention, subsidies, and regulatory frameworks in shaping energy and transportation markets;
- Evaluate the economic implications of emerging technologies, such as smart meters, electric and autonomous vehicles, on energy and transportation systems and sustainability; and
- Apply economic concepts to real-world energy and transportation issues.
Generic skills
On successful completion of this subject, students should have improved the following 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.
Last updated: 20 March 2025