Energy is a key input for a well-functioning economy and is essential for maintaining our modern way of life. Energy influences many dimensions of our economic and social lives. Ensuring future responsible (sustainable) and equitable access to affordable energy is a significant challenge. Economics plays an important role in the functioning of the energy sector, as well as in the development and application of energy policies and regulations, designed to meet the challenge of sustainability. The purpose of this unit is to develop the economic theory necessary to critically evaluate energy policy and related environmental policy.
The unit applies, as well as builds on, the theoretical and empirical economic tools acquired in BEA111, BEA140, BEA200 and BEA201 to analyse the main contemporary economic policy issues related to energy.
The unit has been structured into 3 sections. The first section will provide an overview of energy markets. Topics include sources of energy and energy use. We will examine the economics of energy production and investment. We will also examine energy market regulation.
We study power systems in section two. We look at the economics of electricity generation and distribution and the design of power markets. We investigate the issues involved with integrating renewable energy sources in power system.
Section three considers the environmental implications of energy. The focus is on energy related externalities and the policies proposed to correct these externalities.
The unit fits into the University's major research themes: Environment, Resources & Sustainability; and, Data, Knowledge and Decisions.
|Unit name||Energy Economics and the Environment|
|Faculty/School||College of Business & Economics
Tasmanian School of Business and Economics
|Discipline||Tasmanian School of Business and Economics|
Dr Clinton Levitt
Dr Clinton Levitt
|Available as student elective?||No|
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1: Recognise the different forms of energy and energy markets. Use economic theory to identify the factors that influence markets for energy commodities, and analyse how those factors can influence related markets.
2: Use appropriate economic theory to analyse investment decisions in non-renewable and renewable energy resources under different types of risk, uncertainty and cost structures.
3: Use economic theory to describe power systems (electricity generation, distribution and market design.) Use economic theory to evaluate regulations.
|Band||Field of Education|
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BEA111 and BEA140 and BEA200 and BEA201.
A weekly seminar and a weekly workshop.
Five assignments worth 20% each.
|Timetable||View the lecture timetable | View the full unit timetable|
Please see the unit outline for textbook information.
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