2008 Chevening Fellowships
Course Title
The Economics of Energy
Context1
Global and Economic Issues
Course Provider
The University of Reading
The Centre for Euro-Asian Studies (www.rdg.ac.uk/IEAS)
Course Director
Dr Yelena Kalyuzhnova
Course Dates
Monday 14 January to Friday 4 April 2008
Target Audience
Officials and economists from Ministries of Environment,
Energy, Planning and Finance. Journalists. Private Sector.
Environmental Academics. Prospective Parliamentarians.
Nomination Window
6 June 2007 to 2 October 2007
Selection Panel
25 October 2007
Objective
To promote an understanding of the economic dynamics of international energy
markets. To present Fellows with basic tools to enable them to develop impact
scenarios from energy market assumptions.
Outline
The course will cover the dynamics of international energy markets and the construction
of impact scenarios from different energy market assumptions. It will examine
international energy infrastructure and international markets for energy efficient fuels.
This will include assessing the scope for developing alternative energy sources (e.g.
Liquified Natural Gas (LNG), nuclear and renewables). The course will address how
investment regimes could be improved with a particular focus on investment in
exploration, development and production. The course will also look at ways to improve
energy sector management for example, efficient use of energy resources, the
transparent distribution of the revenues obtained and strategic oil stocking. Participants
will explore the feasibility and cost-effectiveness of greater use of low-carbon
technologies in example markets and consider what barriers countries face in shifting to
a low-carbon economy.
This is a general course, which will supply the fellows with the general tools of
understanding of the international energy market functioning. It aims to give
participants a broad view on the issues of the economics of energy.
1
http://www.fco.gov.uk/servlet/Front?pagename=OpenMarket/Xcelerate/ShowPage&c=Page&cid=1007029393465
For use in Financial Year 2007-08
Course Structure
10 weeks of studying & 2 weeks of work experience - with Shell UK and Shell
International (Netherlands).
Every week of the 10 weeks of studying above will consists of 4 study days + 1 day of a
Study Visit.
Every day of the 4 study days above will consist of 3 contact hours (lectures, seminars,
etc) + 1 hour preparation for company placement + 1 hour of English Language* + 2
hours self-studying and preparations.
Pre-Course reading


James L. Sweeney, “Economics of Energy”, Volume: 4.9 Article: 48 Economics of
Energy
Centre for Global Energy Studies “Oil in Fifteen Volumes”.
Summary Content
The dynamics of international energy markets
The construction of impact scenarios from different energy market
assumptions
Examination of international energy infrastructure
Examination of international markets for energy efficient fuels
Assessing the scope for developing alternative energy sources (LNG, nuclear
and renewables)
Investment regimes with a particular focus on investment in exploration,
development and production.
Methods of improvements of energy sector management
Feasibility and cost-effectiveness of grater use of low-carbon technologies in
example markets
Barriers countries face in shifting to a low-carbon economy.
English Language
The Centre for Applied Linguistic Studies is offering a customer-tailored English
Language course for the Chevening Fellows for 10 weeks of the course.
For use in Financial Year 2007-08