Undergraduate TAS-BEA313-2023

Energy Economics and Policy

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$2,472 $0

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Duration

14 weeks

Study method

100% Online

Available loans

HECS-HELP
FEE-HELP

Assessments

100% online

Prior study

Not required

Start dates

10 Jul 2023

Australia’s fourth oldest university, the University of Tasmania, is highly regarded internationally for teaching and academic excellence. The university offers more than 100 undergraduate degrees and more than 50 postgraduate programs across a range of disciplines. The university offers students a diverse range of opportunities, the chance to learn from leading experts, and excellent preparation for their future careers.

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2023

Subject details

What you'll learn

Upon successful completion of this subject, the student should be able to:

Select and apply appropriate economic theory to analyse energy markets and energy market participants including governments, industry and consumers.
Use economic theory and models to analyse contemporary energy policies.
Communicate economic arguments and policy using appropriate evidence.
Work in a team by applying appropriate communication strategies as well as applying strategies to address group dynamic issues that arise.

Topics covered

- Introduction to Energy Economics. Energy Markets: Supply, Demand, Equilibrium
- Economics of Production in the Energy Sector Part 1: Non-renewable fossil fuels
- Economics of Production in the Energy Sector Part 2: Renewable
- Alternative Market Structures: Oligopoly, Monopoly and Natural Monopoly
- Economics of Regulation in the Energy Sector: Why Regulate
- Economics of Regulation Part 2: Issues in Regulation
- Economics of Auctions and the National Energy Market and the Tasmanian Regional Market
- Economics of Auctions and the National Energy Market and the Tasmanian Regional Market: A Look at the Data
- Economics of Transportation, Distribution and Transmission of Energy
- Energy and Environmental Policy
- Renewable Energy Polices
- Energy Efficiency Policies

Entry requirements

No eligibility requirements

Additional requirements

No additional requirements

Description

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 subject is to develop the economic theory necessary to critically evaluate energy policy and related environmental policy.

The subject 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 subject fits into the University's major research themes: Environment, Resources & Sustainability; and, Data, Knowledge and Decisions.

Assessments