Outline -ECON 3067: Energy Economics 1
Course Description
This course introduces students to the Economics of Energy at the micro level. It is geared to providing the basic
knowledge and introductory skills required as the foundation for research in the area of energy analysis and policy. It
will cover themes such as:
 Energy Statistics
 The demand for and supply of renewable and non-renewable energy , i.e. fossil fuels (viz. crude oil, natural
gas, coal ), electricity and renewables. In terms of supply, the course will cover the issues associated with the
exploration, production, transportation, processing or refining and marketing of fossil fuels and production
of renewable energy
 Energy pricing and markets ,
 Introduction to Energy and the Economics of the Environment
Purpose of the Course
It is designed to introduce students to basic energy issues, and to allow them to better understand the energy business
and introduce students to the tools required for energy analysis and provide its microeconomic foundations
Instructor information





Name of instructor(s)- Michael John
Office address and phone Mobile 771-0904
E-mail address : Michael.john@sta.uwi.edu,
Office hours: To be advised
Communication policy – preferred method of contact - E-mail
Dear Student,
Welcome to Energy Economics I. In this course we seek to provide you with the tools required for energy analysis at
the micro level. We will cover a fair amount of material but be assured that the outcomes are rewarding. I expect that
your views on energy issues will change as you come to a greater appreciation for the role of energy in our lives. Treat
the course as a learning opportunity and do enjoy the experience.
Michael John
Content
In order to appreciate the issues involved in the economics of the Supply and Demand for energy, it is necessary to
commence with an understanding of Energy Statistics. While there are some similarities with other economic
statistics, there are significant differences and practices. With this foundation it is possible to address the issues
associated with Energy Markets including those for renewable energy. Finally we will examine the economics of
Energy’s impact on the environment and selected policy responses.
Goals/Aims
To provide students with the analytical tools to facilitate the overall understanding of the energy sector.
[1]
General Objectives
At the end of the course students should:
 Have a greater awareness of the micro issues associated with energy
 Appreciate the critical contribution of energy to our domestic economy
 Appreciate the role of the energy industry in the global economy
Themes/Topic and Unit Objectives
Overview and Introduction to Energy Economics
Students should be able to :
 Define Energy Economics
 List factors accounting for the complexity of the energy sector
 List the multi-dimensional interactions energy of the energy industry.
Readings
Bhattacharyya S.C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag., 2011
Chapter 1
____________________ Energy Sector Management Issues: An Overview, International Journal of Energy Sector
Management 1(1):13-33.
Stevens P.J :
An Introduction to Energy Economics in Stevens (ed) The Economics of Energy Vol. 1
Edward Elgar, Cheltenham also Journal of Energy Literature, Vol 6 (2) December 2
000 and Vol. 7(1) June 2001.
Unit 1 Introduction to Energy Demand Analysis
Theme - Energy Basics, Energy Statistics and Energy Balances
Students should be able to :
 Classify the energy on the basis of sources
 List the components of the energy supply chain
 Outline the energy accounting framework
 List components of a country’s Energy Account ,
 Analyze energy balances
 Compile simple energy balances

Use energy conversion factors,
 Identify energy balance entries requiring special treatment or information
Readings
Bhattacharyya S.C: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag, 2011
Chapter 2
Karbuz, S
Conversion Factors and Oil Statistics, Energy Policy; Jan 2004, Vol. 32 Issue 1, 41-45
IAEA (2005) Energy indicators for sustainable development, Austria (see http://www.iea.org/
textbase/nppdf/free/2005/Energy_Indicators_Web.pdf. Also see IAEA website) Chapter 3
IEA (1998) Biomass energy: data, analysis and trends, conference proceedings, International
Energy Agency, Paris, 23–24 March, 1998
IEA(2004) Energy Statistics Manual http://www.iea.org/stats/docs/statistics_manual.pdf Chapters1& 7
Annexes 1,-3
UN (1982) Concepts and methods in energy statistics, with special reference to energy accounts
and balances: a technical report, Series F No. 29, Department of International Economic and
[2]
Social Affairs, UN, New York (see http://unstats.un.org/unsd/publication/SeriesF/
SeriesF_29E.pdf) Chapters I-V.
UN (1987) Energy statistics: definitions, units of measure and conversion factors, Series F No. 44,
Department of International Economic and Social Affairs, UN, New York (see
http://unstats.un.org/unsd/publication/SeriesF/SeriesF_44E.pdf)
UN (1991) Energy statistics: a manual for developing countries, UN, New York (see
http://unstats.un.org/unsd/publication/SeriesF/SeriesF_56E.pdf)
Theme - Energy Demand Analysis
Students should be able to :

Trace the evolution of demand analysis,
 Differentiate the economic foundations of
a) consumer energy demand from
b) producer energy demand,
 List alternative approaches for energy demand analysis
 Organize demand into sectoral components
 Evaluate leading selected demand models
Readings
Bhattacharyya, S.C: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag,
2011 Chapter 3-4
Bhattacharyya, S C. and Timilsina, G R. Energy demand models for policy formulation : a Comparative
Study of Energy Demand Models, World Bank Policy Research Working paper WPS
4866 (2009)
Bhattacharyya, S C. and Timilsina, G R. A Review of Energy systems models International Journal of Energy
Sector Management 4(4) 2010, 494-518
EIA :
Model Documentation http://www.eia.gov/tools/models/models.cfm
IAEA
Model for Analysis of Energy Demand, www. ub.iaea.org/MTCD/publications/PDF/
CMS 18_web.pdf 2006
IEA
World Energy Model http://www.worldenergyoutlook.org/docs/weo2010/
World_Energy_Model.pdf
SEI
Long range Energy Alternatives Planning System (LEAP) http://sei-us.org/
Energy Modeling
Ryan, David L and Plourde Andre : Energy Demand Models and Modelling, Canadian Building Energy Enduse Data and Analysis Centre, April 2008 , http://www.cbeedac.com/publications
/documents/energydemand_002.pdf
Theme - Demand Forecasting
Students should be able to :


List approaches to demand forecasting
Evaluate the different approaches to energy demand forecasting
Readings
Bhattacharyya, S.C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag,
2011 Chapter 5
Mehra M, Bharadwaj A. (2000) Forecasting the Demand for Electricity
http://www.teriin.org/upfiles//pub/papers/ft30.pdf
Shell Scenarios: An Explorer’s guide http://www-static.shell.com/static /public/
downloads/brochures /corporate_pkg/scenarios/explorers_guide.pdf
[3]
Swisher et al : Tools and Methods for Integrated Resource Planning ;Improving energy efficiency and
protecting the environment http://uneprisoe.org/IRPManual/IRPmanual.pdf
Theme - Demand management
Students should be able to :








Define demand side management (DSM),
Critique the justification for DSM,
Summarize the concept of Load management,
Define Energy efficiency,
List the challenges associated with energy efficiency,
Identify and discuss the energy saving opportunities,
Assess the cost effectiveness of energy saving opportunities
Summarize the concept of the rebound effect
Readings
Bhattacharyya S.C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag,
2011 Chapter 6
Greening, Lorna A, Greene, David L.,& Difiglio Carmen : Energy Efficiency and consumption –the rebound Effecta Survey, Energy Policy 28 (2000) pp.389-401.
IEA :
Energy Efficiency Governance (2010)
CSPM
Economic Analysis Of Demand-Side Programs and Projects Califonia Standard Practice
Manual, Califonia USA. 2001 http://www.energy.ca.gov/greenbuilding/ documents/
background/07J_CPUC_STANDARD_PRACTICE_MANUAL.PDF
CRA :
Primer on Demand side management, With special emphasis on price responsive
programmes Charles River Associates, Califonia (2005) http://siteresources.worldbank.org
/INTENERGY/Resources/PrimeronDemand-SideManagement.pdf
EC :
GREEN PAPER on Energy Efficiency or Doing More With Less http://eur- lex.europa.eu/
LexUriServ/LexUriServ.do?uri=COM:2005:0265:FIN:EN:PDF
Swisher et al : Tools and Methods for Integrated Resource Planning ;Improving energy efficiency and
protecting the environment http://uneprisoe.org/IRPManual/IRPmanual.pdf
Unit 2 Supply Economics
Theme - Energy Investment Analysis
Students should be able to :


Explain the main characteristic of energy projects
Distinguish between Economic and Financial Investment Analysis
Readings
Asian Development Bank : Key Areas of Economic Analysis of Projects, ADB 2003
____________________: Guidelines for the Economic Analysis of Projects , ADB, 1977
Bhattacharyya S. C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag, 2011
Chapter 7-11
IEA
Overseas Investments by Chinese National Oil Companies: Assessing the drivers and
[4]
impacts http://www.iea.org/papers/2011/overseas_china.pdf
Themes: Economics of fossil fuel supply
 Exploration
 Development
 Production
 Fossil fuel production economics
 Resource rents

Exhaustible Resources and depletion
Students should be able to :








Explain the activities involved in the non-renewable energy supply system
Describe the risk involved in exploration projects
Illustrate the use of decision trees in exploration investment decisions
Summarize the alternative legal arrangements for resource exploration
Critique the methods for resource classification
Distinguish between field level and industry level economics
Define the concept of resource rent
Outline the simple model of extraction of exhaustible resources
Readings
Bhattacharyya S C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag,
2011 Chapter 7-11
Boopsingh, Trevor; Oil and Gas Development – A View from the South 1988 Chap 3,4.
French Institute for Petroleum Publications; Oil and Gas Exploration and Production. 2001 Chap.3 , 4 and
5.
Abdel –Al, Hussein and Schmelzlee , Robert K.– Petroleum Economics and Engineering ; An Introduction
1978 Chap, 2,6 and 7
The Energy Value Chain UTC Investment series Trinidad and Tobago Unit Trust
Corporation http://www.ttutc.com/news/article/energy/value_chain.pdf
Tordo S.
Fiscal Systems for Hydrocarbons, Design Issues, W orld Bank Working Paper No 123
Tordo S, David Johnston and Daniel Johnston :Petroleum Exploration and Production Rights Allocation
Strategies and Design Issues World Bank Working Paper No. 179
Otto, James ; et al: Mining Royalties: a Global Study of their Impact on Investors, Government, and Civil
Society (Vol. 1 of 2)
Van Meurs P. Government Take and Petroleum Fiscal Regime www.krg.org/.../ Government_Take
_and_Petroleum_Fiscal_Regimes__2008_06_30_h14m7s53.doc
SPE Petroleum Resources Management System Guide for Non-Technical Users,
http://www.spe.org/spe- app/spe/industry/reserves/index.htm
Historical Facts on the Petroleum Industry of Trinidad and Tobago – GSTT
www.gstt.org
WCI
The Coal Resource :A Comprehensive Overview of Coal, World Coal Institute , 2009
Centre for Liquefied Natural Gas www.lngfacts.org
Natural Gas Supply Association – Natural gas .org- www.naturalgas.org Section 1, 2,5
Foss, Michelle M: Introduction to LNG, Centre for Energy Economics, University of Texas at Austin
http://www.beg.utexas.edu/energyecon/lng/documents/CEE_INTRODUCTION_TO_LNG_FINAL.pdf
Theme :Refining and Transportation of fossil fuels
Students should be able to :


Classify refineries
Evaluate the issues affecting refinery profitability
[5]




Perform simple valuations of crude delivered to a refinery
Compare and contrast transportation options
Summarize the operation of the tanker market
Explain the determination of freight rates
Readings
Cornot-Gandolphe The Challenges of Further Cost Reductions for New Supply Options (Pipeline, LNG,
GTL) 22 World Gas Conference 2003, www.cedigaz.org/Fichiers/pdf_papers/challengesof
further.pdf.
Tom Meisner: A Practical Guide to US Natural Gas Transmission Pipeline Economics, Oil and Gas Journal
Research Centre/Penn Energy,2009.
Pirog, Robert L. :Petroleum Refining:Economic Performance and Challenges for the Future,
Congressional Research Service,˜ The Library of Congress.
http://digital.library.unt.edu/ark:/67531/metacrs7271/m1/1/high_res_d/RL32248_2005May09.pdf
______ :
Conversion Unit Yield Analysis, 2008 Fuels refinery Performance Analysis, February 17,
2010 Solomon & Associates http://solomononline.com/documents /Whitepapers/
CU_YA_WWW .pdf
Okimi H.
Comparative Economy of LNG and Pipelines in Gas Transmission , World Gas Conference
2003, Japan http://www.igu.org/html/wgc2003/WGC_pdffiles/
10392_1045815366_9772_1.pdf
Stopford,M. Maritime Economics, Routledge 2nd ed. 2006 Chapters 3 & 4
Emmerson C. & Stevens P.: Maritime choke points in the global energy system: charting a way forward,
Chatham House, 2012
Theme :Economics of Electricity Supply
Students should be able to :




Explain the basic concepts related to Electricity Systems
List the challenges associated with energy efficiency,
Identify and discuss the energy saving opportunities,
Assess the cost effectiveness of energy saving opportunities
Readings
Srivastava, A.K , Kamlasadan, D.P, Sankar, S. & Al-Olimat K.S. Electricity Markets : An Overview and comparative
Study, International Journal of Energy Sector Management, 2007 Vol. 5 (2) pp. 169-200.
Anderson D. :
Electricity Generation Costs and Investment Decisions: A Review UK Energy Research
Centre Working Paper February 2007.
Bhattacharyya Subes C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag,
2011 Chapter 10
Blyth W.:
The Economics of Transition in the Power Sector, IEA Information Paper 2010
Heptonstall P : A Review of Electricity Unit Cost Estimates, Working Paper UKERC/WP/TPA/2007/006
IEA :
Opportunities to transform the Electricity Sector in Major Economies, IEA, 2010
Meetamehra. Demand : Forecasting for Electricity
Turvey R & Anderson D. : Electricity Economics, World Bank July 1977
Swisher et al : Tools and Methods for Integrated Resource Planning ;Improving energy efficiency and
protecting the environment http://uneprisoe.org/IRPManual/IRPmanual.pdf
[6]
Theme: Economics of Renewable Energy
Students should be able to :


Identify the renewable energy options available
Explain the economic issues hindering adoption
Readings
Awerbuch S. and Saute R. Exploiting the Oil-GDP Effect to Support Renewables Deployment, SPRU
Electronic Working Paper Series 2005 , http://www.awerbuch.com/shimonpages
/shimondocs/sewp129.pdf
Bhattacharyya S. C.: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag, 2011
Chapter 11
Holmgren, J. et al : Opportunities for Bio Renewables, Hydrocarbon Engineering, June 2007 .
http://www.uop.com/wp-content/uploads/2011/01/UOP-Opportunities-for-Renewables-inPetroleum-Refineries-Tech-Paper.pdf
IEA :
Renewable Energy Essentials: Solar heating and cooling,
: Hydropower
:Geothermal Energy (2010)
:Concentrating Solar Thermal power
_____:
Cogeneration and Renewables: Solutions for a Low Carbon Future (2011)
______:
Clean Energy Progress Report, (2011) IEA.org
Kaygysuz :
The Role of Hydropower for Sustainable Energy Development, Energy Sources Part B
(2009) Taylor & Francis
Unit 3 Energy markets
Students should be able to :
 Trace the evolution of the International Petroleum Industry
 List the major players in the international petroleum market
 Identify the key drivers of energy demand
 Examine the role of OPEC in the petroleum market
 Identify the components of the Natural Gas value chain
 Describe and evaluate the key features of fossil fuel supply contracts (with special emphasis on
Natural Gas)
 Appraise the different approaches to Natural Gas Pricing
 Identify the characteristics of the LNG business
 Evaluate the supply/ demand outlook for Crude Oil, Coal , Natural Gas and LNG
Themes: Energy markets






Energy Pricing
Energy Taxation
International oil market
o Anatomy of Oil Prices
Natural Gas markets
Electricity Markets
Renewable Energy markets
[7]

Introduction to Coal markets
Readings
General
Bhattacharyya S C.: Energy Economics Concepts, Issues, Markets and Governance, Springer -Verlag
2011 Chapter 12-16
_________
Determinants of Energy Prices in World Energy Report 2005, RWE, http://www.rwe.com
/app/ Mediencenter/Detailansicht.aspx?Mandant=rwe_holding&mID=906&catID=141
_______
Analysis of the Scope of Energy Subsidies and Suggestions for the G-20 Initiative , Joint
report prepared for submission to the G-20 Summit meeting Toronto (Canada) 26-27 June
2010 IEA, OPEC, OECD, World Bank Joint Report
Coal Markets
Martin-Amouroux J.M. Coal: The Metamorphosis of an Industry, International Journal of Energy Sector
Management 2(2) 2008 162-180
Zientara, P.: Polish Government policies for Coal (1989-2006) International Journal of Energy Sector
Management 1(3) 2007 273-294.
Li, R
The Evolution of the International Steam Coal Market, International Journal of Energy Sector
Management 4(4) 2010, 519-534
________
Coal and Steel, , World Coal Institute,2009
Gas and LNG
Stevens P. The Shale Gas Revolution Developments and Changes, Chatham House, 2012
Stern J and Rogers H Transition to Hub based Gas Pricing in Continental Europe, Oxford Institute for
Energy Studies, 2011
Rogers, H.V LNG Trade-flows in the Atlantic Basin: Trends and Discontinuities, Oxford Institute for
Energy Studies March 2010
National Gas Company of Trinidad and Tobago Limited – Gasco News. Special Anniversary Editions 22nd, and
30th.
Energy Research Associates: LNG in the 21st Century : The First Decade Vol. 1. Executive summary
EIA
The Global LNG Market EIA 2003
Nazemi ,A
New Mechanisms of LNG Pricing in Asia, IGU International Gas Conference 2009
http://www.igu.org/html/wgc2009/papers/docs/wgcFinal00070.pdf
Chris Holmes C. and Rogers D : The Impact of the Global Economic Crisis on Global LNG Trade,
International Gas Conference 2009 http://www.igu.org/html/wgc2009/papers/docs/wgcFinal00673.pdf
McGuire, Gregory Understanding Gas Prices Mimeo UWI 2003
Jensen J T, Development of A Global LNG Market: Is it likely? If so when? Oxford Institute of Energy
Studies, Oxford UK
Julius De Anne and Afsanah Mashayeki The Economics of Natural Gas: Pricing Planning and Policy
Chaps 1-3
Crude Oil
Fattouh, Bassam, Kilian L. & Mahadeva Speculation in Oil Markets: What we have learned so far?
Oxford Institute for Energy Studies, 2012
----------------------Oil Markets in 2021 Calm or Turbulent Waters? Oxford Institute for Energy Studies, 2012
--------------------: An Anatomy of the Crude Oil Pricing System , Oxford Institute for Energy Studies
2011
----------------- Oil Market Dynamics, Oxford Institute for Energy Studies 2010
“Oil Market Basics” Energy Information Administration <http:/www.eia.doe.gov>
Yergin Daniel: Its Still the One, Foreign Policy September –October 2009
BP Statistical Review of World Energy Latest issue, www.bp.com
McGuire, G. : Crisis and Aftermath – An Assessment of Petroleum Policy in Trinidad and Tobago
1973-80. Chap 4.
Salameh, Mamdouh G. China’s Global Oil Diplomacy Benign or Hostile IAEE Newsletter Quarter 1, 2010
[8]
Stevens P. :The Arab Uprisings and the International Oil Market, Chatham House, 2012
Koosh, Victor Market Dynamics can be Challenging Oil and Gas Financial Journal, January 2009
Jan Hein Jesse and Coby Van Der Linde: Oil Turbulence in the Next Decade ; An Essay on High Oil Prices
in a Supply constrained World., Netherlands Institute of International Relations- Clingendael.
June 2008
–
World Energy Outlook International Energy Agency Latest Issue.www.iea.org
_________ Frequently Asked Questions about the Petroleum Industry, Organization of Petroleum Exporting
Countries, www.OPEC.org
_________ Monthly Oil Market Report Organization of Petroleum Exporting Countries –www.OPEC.org. _________
Annual Energy Outlook ( Latest Issue) Energy Information Administration www.eia.doe.gov
Electricity Markets
Srivastava, A.K , Kamlasadan, D.P, Sankar, S. & Al-Olimat K.S. Electricity Markets : An Overview and comparative
Study, International Journal of Energy Sector Management, 2007 Vol. 5 (2) pp. 169-200.
Unit 4 Energy and the Environment
Students should be able to :
 Identify the various interactions between energy and the environment
 Explain the concept of the Environmental Kuznets curve
 Compare and contrast the options to address energy related environmental problems
 Distinguish between pollution from stationary and mobile sources
 Evaluate the policy options
Readings
Bhattacharyya S C.: Energy Economics Concepts, Issues, Markets and Governance, SpringerVerlag, 2011 Chapter 23-25
Panayotou T. Economic Instruments for environmental management and sustainable development, UNEP
Paper 16
http://www.conservationfinance.org/guide/guide/images/40_panay.pdf
UNEP Global Environmental Outlook 3, 2002
Shahrin A and Naili A.M.A Introduction to Environmental Kuznets Curve
http://economics.dstcentre.com/Introduction%20to%20Environmental%20Kuznets%20Curve%20By%20A
zmi%20Shahrin.pdf
Assignments
Tutorials Students will be expected to prepare and present tutorial questions as well as participate in tutorial
discussion when colleagues are presenting.
Other Assignments- In addition, students will complete three assignments to be graded by the lecturer during the
semester. The first -an Essay provides an opportunity to practice the analysis of industry issues. The second -a midterm Examination designed to indicate the extent of mastery of the first half of the course. The final assignment – a
problem sheet will provide practice in the simple quantitative issues covered during the semester. For Due Dates for
assignments see the Class calendar below.
[9]
Course Assessment
Assessment is designed to establish the student understanding of the material and the ability to critically
examine energy matters and issues. Students will be assessed on the following basis:
Course Work 40%
 Course Work Mid-Term Examination : 20 %
 Course Work Essay Unit 3: 10% (5% essay, 5% essay presentation in tutorial)
 Course Problem Sheet : 10 %
Final Examination: 60 %. This examination will be two hours long and consist of five essay questions of which
students will be required to select three questions.
Evaluation
Students are encouraged to communicate with the lecturer and Teaching Assistant on challenges being experienced in
the course as well as to provide feedback on how their experience can be improved and enhanced. In addition the
lecturer will solicit feedback from the Teaching Assistant on student Tutorial performances. Structured Post lecture
feedback by students will be encouraged.
Teaching Strategies
Students will have three (3) contact hours for weekly.


Lectures - Wednesday (EU), 5.30-7.30p.m. (TCB 3.1 )
Tutorials- Tuesday 6.00 -7.00 p.m. (FSS 102 E)

Wednesday 1.00-2.00 p.m. (SAC FL 18)
Lectures will be delivered with the aid of power point presentations. Student participation will be encouraged
and students are advised to read assigned material before the scheduled class, so that they can participate
meaningfully in the class and tutorial discussion. Tutorial attendance is mandatory.
Faculty regulations allow for debarment from the Final Examination in the case of students who do not attend at least
75% of tutorial classes. The Course Lecturers and tutors will be monitoring and subsequently enforcing this
regulation
Recommended Resources
Essential Text
Subes C. Bhattacharyya: Energy Economics Concepts, Issues, Markets and Governance, Springer-Verlag, 2011
Other Resources
Stopford,M. Maritime Economics, Routledge 2nd ed. 2006
James G. Speight : Handbook of Petroleum Analysis Wiley-Interscience, 2001
James G. Speight : Handbook of Petroleum Product Analysis Wiley-Interscience, 2002
Richard Seba : Economics of World Wide Petroleum Production
Trevor Boopsingh; Oil and Gas Development – A View from the South 1988
Robert Schmelzlee and Hussein K. Abdel – Petroleum Economics and Engineering ; An Introduction 1978
Handouts will be provided on the myeLearning site.
[10]
Additional Information
Students are reminded of the University’s Examination Regulations for First Degrees, Associate
Degrees, Diplomas and Certificates including GPA Regulations:
19. Any candidate who has been absent from the University for a prolonged period during the teaching of a
particular course for any reason other than illness or whose attendance at prescribed lectures, classes,
practical classes, tutorials, or clinical instructions has been unsatisfactory or who has failed to submit
essays or other exercises set by his/her teachers, may be debarred by the relevant Academic Board, on the
recommendation of the relevant Faculty Board, from taking any University examinations. The procedures
to be used shall be prescribed in Faculty Regulations.
[This regulation (19) will be enforced. Students failing to attend a minimum of 75% of the tutorial classes will
be debarred from taking the final Examination. Consequently, students are strongly advised to promptly bring
to the attention of their Tutors/Lecturer evidence of extenuating circumstances that prevent them from
attending tutorial class/lectures. Evidence of such circumstances will not be accepted at the end of the
semester when the list of students to be debarred in this course is published.]
97. (i) Cheating shall constitute a major offence under these regulations
(ii)
Cheating is any attempt to benefit one’s self or another by deceit or fraud.
(iii)
Plagiarism is a form of cheating.
(iv)
Plagiarism is the unauthorized and/ or unacknowledged use of another person’s intellectual effort
and creations howsoever recorded, including whether formally published or in manuscript or in typescript
or other printed or electronically presented form and includes taking passages, ideas or structures from
another work or author without proper and unequivocal attribution of such source(s), using the
conventions for attributions or citing used in this University.
Grading policy The University Grading System will apply.
Course Activities Planned
1. Attendance at the Post National Budget Forum 2013 carded for September 12, 2013. Students are
advised to check the Departmental Website (http://sta.uwi.edu/fss/economics/index.asp).
2. Attendance at the Conference on the Economy (COTE2013) on October 10 – 11, 2013 students must
register for attendance with the Economics Student Union (ESU) or the Department of Economics .
Course Calendar
Date /Week
Topic/Lecture
Sept 4 Week 1
1.
Sept 11 Week 2
2.
Sept 18 Week 3
3.
Assignment/
Introduction to the Energy Economics,
Overview, Understanding Energy DataFrom Measurement to Energy Balances
Energy Demand Analysis I –Approaches,
Disaggregation, Forecasting,
Energy Demand Analysis II -Demand
Management
[11]
Tutorial sheet
Sheet 1 (Demand)Available
Sept 25 Week 4
4.
Economics of Energy Supply I- Energy
Investment
Economics of Energy Supply II - Nonrenewable Resource Economics (The
Supply of Fossil Fuels)
Economics of Energy Supply III Refining
and Transportation
Economics of Energy Supply IV
Electricity, Renewable Energy
Energy Markets I – Pricing and Taxation
Oct 2 Week 5
5.
Oct 9 Week 6
6.
Oct 16 Week 7
7.
Oct 23 Week 8
8.
Oct 30 Week 9
9.
Nov 6 Week 10
10.
Nov 13 Week 11
11.
Nov 20 Week 12
12.
Nov 27 Week 13
13.
Dec
14. Final Examinations
Energy Markets II The International Oil
Market and the Market for Coal
Energy Markets III Natural Gas
Markets- Features, Status,
Transportation, Contracts, Pricing, LNG
Energy and the Environment I Environmental Protection, PollutionStationary and Mobile Sources
Energy and the Environment II -Climate
Change Economics, Clean Development
Mechanism. Carbon capture & Trading
Revision Lecture
[12]
Essay Preparation
Sheet 2 Supply
Essay submission
Sheet 3 Markets
Quiz
Sheet 4 Environment
Problem sheet