Similar to many other branches of applied economics, energy economics emerged with therealization that “energy” is a scarce resource. This course covers the economic principles that guide energy related behavior of both the producers and the consumers of energy and the policy regime that has emerged to govern it. The course has four building blocks: understanding energy as a scarce resource, various aspects of energy demand and supply with a focus to policies that are in place to promote renewable energy supply and finally, a much needed discussion on interaction between energy, environment and climate change. The course aims at broadening the vision of students while making any energy related decision as a technology developer, energy manager, entrepreneur, policy maker, researcher in future or simply for personal energy use in day to day activities.
INTENDED AUDIENCE:Primarily the graduate students working in the area of energy economics and energy policy domain. This course will also be useful for general audiencePREREQUISITES:Any foundational course in EconomicsINDUSTRY SUPPORT: Power sector; energy consulting firms; renewable energy production units, policy makers
COURSE LAYOUT Week 1: Energy as a resource; classification, measurement and accountingWeek 2: Energy Demand-Part I- Analyzing past, present and future demandWeek 3: Energy Demand-Part II - Demand Side Management, policies and behavioural issuesWeek 4:Energy Supply- Part I – Economics and policies of non-renewable energy supplyWeek 5: Energy Supply- Part II – Economics of electricity supply and renewable energy and related policies Week 6: Energy MarketWeek 7: Special topics on energy, environment and climate change - Part IWeek 8:Special topics on energy, environment and climate change - Part II