Learn the economics of real-world energy markets, and how various policies can address the impact of rising global energy demand on the environment and climate. With renewable sources playing an increasing role in meeting global energy demand and mitigating climate change, electric power systems and the related markets are changing. To prepare for a career in the future energy landscape, industry professionals, policymakers, and academics must understand these changes and develop specific, relevant skills to drive this energy transition within the necessary timeframe. In this course, you will learn to apply economic and socio-political analysis to real-world regulatory policy questions in a set of extremely important, interrelated energy markets.
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Specifically, by looking at real-world case studies and emerging research, you will explore key aspects of the oil, natural gas, electricity, and nuclear power sectors, and how policies such as carbon taxes and efficiency standards can drive reductions in the greenhouse gas emissions. You will also employ systems-level analysis to predict policy outcomes not only within energy markets but across transportation, building and development, employment, and health and social sectors. Overall, you will gain insights into how applied economics and policy tools can effectively move the global energy sector toward renewable and clean energy sources to mitigate climate change, while at the same time promoting economic development.
Learners who will benefit from this course include professionals, academics, graduate students, and advanced undergraduate students considering careers and/or further study in energy industry, government and policy, non-governmental organizations and nonprofits, private technology and investment firms, academia, and research and development.
This course is part of the Future Energy Systems XSeries.
What you'll learn
- The economic principles and characteristics of various, interrelated energy markets
- Overview and current issues of natural gas and international oil markets
- Externalities associated with oil and gasoline
- Challenges and opportunities of electricity markets
- Policy options and market mechanisms to drive more sustainable and equitable energy access
- The predicted effects of various policy outcomes on markets, as well as on the environment and social systems
- Economic and socio-political dimensions of international commitments to carbon reduction
Prerequisites:
- Strong English language skills recommended
- Ability to perform mathematical operations, study of calculus is helpful
- College-level study of physics, engineering, and/or environmental science is helpful
- Familiarity with basic principles of microeconomics is helpful
