The Economics of Energy

This course is an introduction to the economics of energy markets. We will study the main sources of inefficiencies in energy markets – market power and externalities – and their implications for policy making. We will cover, for example, how oil and natural gas prices are determined globally, deregulation and market power in electricity markets, and policy responses such as carbon permits trading. We will also discuss recent challenges faced by policymakers in energy markets, such as the incorporation of renewables, transmission, transport, and the energy transition to net zero more broadly.