The course examines the role of energy in economic activity, economic methods of assessing energy technologies, projects, and policies, and debates concerning alternative future energy scenarios. Both fossil fuels and renewable and nuclear energy sources will be studied as well as energy efficiency and conservation. Additional topics include the environmental impacts of energy use including climate change and the role of energy in economic development.

The course does not assume any economics background, but does assume a willingness and ability to learn methods of economic analysis quickly so that the course is also be relevant to students in economics based programs. However, it is an inherently interdisciplinary course, drawing on economics and natural sciences including physics and geology. Compared to existing energy economics courses at other universities, there is more focus on the biophysical foundations of the energy economy than on analysis of energy markets.

By the end of this course students should:

1. Understand the role of energy in economic activity.
2. Have a knowledge of methods to assess alternative energy projects, technologies, and policies.
3. Have an understanding of structure of energy markets and patterns of energy production and consumption.
4. Know what key factors and principles need to be considered in evaluating alternative energy policy options.

(i) A mid-term exam (30%)

(ii) Presentations in the seminars on the course readings (10%)

(iii) Presentation on final project (10%)

(iv) Final project/paper. Papers must demonstrate application of theory from the course to analysing an energy policy issue or investigating an empirical energy economics question. (50%)

There would be a weekly lecture and a seminar. The lecture would likely be of around 2 hours duration and the seminar 1-1.5 hours. Several hours a week would also be required for reading and working on the final assignment/paper.

None

No additional knowledge beyond that required for programs offering this course as an elective.

There will be no overall textbook for the course. An extensive reading list will include chapters from books, journal articles, and government reports and will be provided on Wattle and/or in a reading brick. The following readings relate to the introductory lectures and are examples of the type of readings that will be set:

Gales, B., A. Kander, P. Malanima, and M. Rubio (2007) North versus south: energy transition and energy intensity in Europe over 200 years. Eur. Rev. Econ. History 11: 219–253.

Perman, R., Y. Ma, J. McGilvray, and Michael Common (2003) Natural Resource and Environmental Economics, 3^rd edition, Addison-Wesley. Chapter 2, The origins of the sustainability problem.

Stern D. I. (2011) The role of energy in economic growth, Annals of the New York Academy of Sciences 1219, 26-51.

N/A