Introduction to Energy Economics
Economics 3990
Fall 2012
Instructor:
Office:
Phone:
E-Mail:
Office Hours:
Dr. Jeremy Oller
Thatcher 217
974-5347
joller3@uco.edu
MW: 10am – 1pm
Or by appointment
Website: www.busn.uco.edu/joller
Required Text: Economics of the Energy Industries, Second Edition, William Spangar
Peirce. The book can be purchased in a digital format using Google Books or Amazon
Kindle. The book can be found in hardcopy from Amazon or Barnes and Noble.
Course Objective: The University and the College of Business are committed to
providing students transformative learning experiences in six core areas: discipline
knowledge; leadership; research, creative and scholarly activities; service learning
and civic engagement; global and cultural competencies; and health and
wellness. This class supports these goals by providing significant opportunities for the
acquisition of discipline knowledge, requiring you to engage in creative activities, and
allowing you the opportunity to exhibit leadership in the classroom. Specifically, you
will gain an understanding of how microeconomic concepts apply to the energy industry.
Upon completion of this course, you should possess an understanding of the basics of
several energy markets and how to analyze behavior in those markets utilizing economic
techniques. We will examine how these industries operate utilizing reading assignments,
lectures, discussions, and written homework assignments. In addition, students will
participate in creative assignments and take leadership roles in groups to further your
understanding of these industries.
I am here for you, but I am not a mind reader. If you have any questions about the course
material, I implore to ask questions during class, consult with me after class, come to
office hours, and/or asking your fellow classmates for help. I encourage you to work with
other students on homework assignments, game assignments, and in preparing for exams
(group efforts are highly condemned during the exams.)
Grading: I will assign students grades based on examinations, homework, and
performance in economic based games.
Point Distribution
Midterm and Final Exams
100 points each (300 total)
Homework Assignments (4) 200 points total
Group Game Assignments 100 points total
Total Points Possible
700
Grade Distribution:
Points Earned
630-700
560-629
490-559
420-489
Below 420
Letter Grade
A
B
C
D
F
Exams: Exams will cover material consistent with the topics covered in lectures and the
chapters listed below. I will often post additional review material on my web page at
www.busn.uco.edu/joller. You should visit this site frequently throughout the course.
Exams will be multiple choice and short answer.
Exam Schedule:
Exam 1- Chapters 1-5 in the text and supplemental information
Exam 2- Chapters 6-10 in the text and supplemental information
Final Exam:
Thursday, December 13, 11 am- 12:50 pm
Chapters 11-13 in the text and supplemental information.
Some material may be omitted from each chapter; you will be notified of the omissions
before we cover the chapter. Additionally, I may lecture or provide supplements in
addition to the text. You will be responsible for that information. I do reserve the right to
change or omit any part of the course topics as necessary.
Quizzes: There will be 4 quizzes over the course of the semester worth 25 points each.
You will be given advanced notice of the quizzes. The quiz topics will be posted on my
website well in advance of you taking the quiz. Quizzes will be taken during the last 15
minutes of a class period.
Group Assignments
Homework: You will be given four separate problem sets and will work on these
assignments as a group. The intent of the assignments is for everyone to participate as
this is not an opportunity to free ride of your fellow classmates. If you do not contribute
to the assignment you may not receive credit for it. You will be given a due date and
time. Homework that is not completed on time will not be accepted late.
Pricing Game: You will be paired up with 2-3 other students to compete in games that
will be assigned throughout the semester. These games will primarily be related to
pricing or producing in the energy industry. There will be different games with differing
objectives and you will compete against other students (groups) in the course. The games
are intended to address different pricing/market concepts. You will find that there will be
times the game calls for aggressive competition and other times where cooperation yields
the optimal result. Your score for this game will be the percentage of the highest
cumulative score in the course.
Policies and Recommendations:
1. Cell Phone Policy- Cell Phones are not permitted during class periods. This includes
text messaging and internet access. Yes, I can tell when you are using the phone during
class as individuals are not prone to stare into their lap for excessive periods of time
under normal circumstances. If you are using the phone during class or it rings during
class time, you will be asked to leave the room and you will receive an absence for that
period. The importance of the call or text is irrelevant.
2. Attend all classes and take full lecture notes.
3. Make-up exams will only be given with documentation of a University accepted
excuse. Documentation will be required to gain admission to the exam. Make-up exams
will be given on pre-final week.
4. Grades will not be raised by doing extra work and all exams will be counted toward the
final grade.
5. Homework will not be accepted late.
6. You are encouraged to come to my office hours to discuss any class related issues and
discuss course material.
7. You are also encouraged to work with other students in preparing for quizzes and
working on homework assignments (this does not mean let one person do the work and
copy it, as this will only serve to your detriment at exam time)
8. Any student caught cheating on an exam may receive a zero on the assignment, a grade
of an F for the course, or be turned in for academic misconduct at the professor’s
discretion.
Students with Disabilities: The University of Central Oklahoma complies with Section
504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990.
Students with disabilities who need special accommodations must make their requests by
contacting the assistant director of Disability Support Services, Kimberly Fields at 9742549. The office is located in the Nigh University Center, Room 309. Students should
also notify the instructor of special accommodation needs by the end of the first week of
class. The Academic Affairs student information sheet can be accessed with the
following URL:
http://www.busn.ucok.edu/academicaffairs/FORMS/Student%20Information%20SheetFa
l06.pdf