ECON42270 Energy Economics and Policy

Academic Year 2022/2023

The energy sector plays a crucial role in the global economy; it is also undergoing significant change as it transitions from a fossil fuel-based system to one with a rising share of renewable energy and the sector decarbonises.
Energy economics involves the use of economic theory to understand and solve the challenges facing energy markets. This module explores the theoretical and empirical perspectives of the economics of energy demand, energy supply, energy markets, policy instruments affecting energy, and carbon markets. It applies economic analysis to energy policy and covers subjects such as energy efficiency, renewable energy sources, the design of policy instruments, smart grids, electricity market structures and externalities associated with energy generation and use.
The course is hands-on and interactive and encourages students to explore topics in energy economics in more detail through readings, research, group work, and participation in class.

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Curricular information is subject to change

Learning Outcomes:

- Demonstrate a comprehensive understanding of the key issues in energy economics and policy.
- Understand and be able to apply key economic methodologies to analyse energy policies and issues.
- Recognise key challenges from energy markets, energy systems and technologies.
- Understand results from academic papers, reports and wide variety of literature on energy and use them in the analysis of empirical energy economic and policy problems.
- Identify the types of data and analysis needed to analyse challenges presented in the energy agenda.
- Write papers and reports to a high standard and quality on the current and future issues relating to global energy policy.

Indicative Module Content:

1. Introduction to energy economics
2. Economics of energy demand
3. Economics of energy supply
4. Electricity markets
5. International energy and climate change policy

Student Effort Type Hours


Specified Learning Activities


Autonomous Student Learning




Requirements, Exclusions and Recommendations

Not applicable to this module.

Module Requisites and Incompatibles
ECON42360 - Energy Economics and Policy

Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Mid-term online exam Week 6 Yes Alternative linear conversion grade scale 40% No


Examination: Final online exam 2 hour End of Trimester Exam Yes Alternative linear conversion grade scale 40% No


Assignment: Individual essay Week 8 n/a Graded No


Group Project: A project will be assigned in groups of 4/5. It will require analysis of energy policy relating to a country or region. More details given in class. Throughout the Trimester n/a Alternative linear conversion grade scale 40% No


Carry forward of passed components
Resit In Terminal Exam
Summer Yes - 2 Hour
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Peer review activities

How will my Feedback be Delivered?

Feedback is given to students on their group presentation and report and individually on their presentation and their term paper. Students also peer review each other's presentations.

Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Wed 14:00 - 16:50

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