BU5557 - Issues in Energy & Petroleum Economics

Credit Points: 15

Course Co-ordinator: Professor Euan Phimister.

Pre-requisite(s): This course will be compulsory for students on the International Business Energy & Petroleum programme.

Co-requisite(s): Students must follow this course alongside the other core, compulsory components of their degree programme.

Note(s): None.

This course will develop student skills by examining in detail selected issues central to understanding energy and petroleum economics such as: petroleum policies; collective of economic rents (bonus bids/royalties/taxation); licensing and other policy issues - relinquishment terms; depletion policy; procurement; pricing policy; oil funds. Modelling prospects for an oil province. Economics of decommissioning. Economics of auctions. Economics of liability. Renewable energy and bio-fuels. Modelling energy demand. Markets for tradable emissions of analysis. Seminars will be of equal significance and will focus on applications. Coursework will involve students undertaking their own independent research.

1x 2hr lectures, for 12 weeks. 1x 1hr tutorial for 6 weeks.

1x 2hr written examination (80%) and one essay/assignment (20%).