BU5562 - Empirical Methods in Energy Economics

Credit Points: 15

Course Co-ordinator: Prof Euan Phimister

Pre-requisite(s): BU5025 Quantitative Methods.

Co-requisite(s): Students will follow this course alongside the other core (and so compulsory) components of the degree programme.

This course will consider the application of a range of empirical methods. For each method, any required background to the method will be discussed, and the practical application of the technique to a case introduced. Applications may include:

1. Applying Investment Appraisal Methods: Developing a Spreadhseet Model, Sensitivity Analysis, Monte Carlo Simulation

2. Modelling Retail-Wholesale Price Margins in Energy Markets: The Impact of Market Structure; Econometric analysis of Retail-Wholesale Data

3. Modelling Energy Demand; Theory and Model specification; Econometric Issues

4. Modelling the Economics of a Fuel Mandate; Formulating a simple model of the market; Counter-factual analysis

5. Industry Analysis; Structure, Performance, Conduct; Testing the evidence

1 two-hour lecture for 12 weeks

1 hour tutorial/workshop class (per alternate week - 6 hour in total per student)

1 two-hour written examination (60%); continuous assessment (40%).

Resit: 1 two-hour written examination (100%).