Energy Economics

3 Credits · Level: Undergraduate

In this course, economic concepts and tools are applied to examine different aspects of the international energy business. By focusing on microeconomic concerns of supply and demand, as well as, aggregate investment and economy-wide linkages, students develop a comprehensive understanding of basic energy problems and the economic tools for analyzing them. As such, lectures, tutorials and readings will cover the importance of energy and the dynamic nature of economic problems facing energy industries globally: from availability, affordability (pricing), market regulation, liberalization, globalization, accessibility, demand management, and sustainability to environmental externalities. In the process, the course addresses the sustainability issue regarding existing energy resources and price mechanisms applied in the MENA region. It considers the economics of different forms of renewable energy and presents techniques for evaluating business and policy challenges. Meanwhile, during the Semester, industry experts would be invited to deliver short talks to expose students to current realities facing the industry. In sum, after completing the course, students would: • Know the importance of energy and their prices in international trade and economics • Become familiar with basic economic concepts and methods for analyzing energy issues • Understand the micro and macro economic issues related to energy supply and demand • Appreciate the economic/policy considerations that determine energy investments • Be equipped with skills for making informed business or policy decisions regarding energy • Have a better understanding of the economics of renewable energy and climate change