19-624 Special Topics: The Transformation of Energy Markets

Units: 9.0 Department: Eng. & Public Policy Cross-listed: 73-428 Related URLs: http://www.epp.cmu.edu/ Crude-oil and natural gas deregulation are widely-cited success stories, while the electric power industry has become the poster child for advocates of a strong government role in energy markets. This course will blend the tools of economics and engineering to assess the successes and failures of energy-market commoditization. Why are markets for oil and natural gas considered to be well-functioning, while electricity markets are not? What constraints does technology place on the economic goal of competition? The course will consider markets for, and the technological idiosyncrasies of, petroleum, natural gas, and electricity. Topics to be covered include the economics of resource extraction, volatility in futures markets for oil and natural gas, the rise and fall of OPEC, power systems engineering and economics, and the special problems inherent in creating markets for wholesale electric power. We will contrast the performance of electricity markets in California, the Northeastern U.S., and Britain. Additional topics may include consumer response to volatile energy prices, renewable portfolio standards in electric power generation, coal and nuclear technologies, and the possibility of supply shortages in oil and natural gas.

Popularity index Rank for this semester: #1313 Rank in this department: #19   Students also scheduled 88-223 Decision Analysis and Decision Supp... 88-223 Decision Analysis and Decision Supp... 80-236 Philosophy and Law 80-236 Philosophy and Law 51-231 Calligraphy I 51-231 Calligraphy I 36-217 Probability Theory and Random Proce... 36-217 Probability Theory and Random Proce...

Spring 2005 times

Sec	Time	Day	Instructor	Location
A	1:30 - 2:50 pm	T	Blumsack	SH 219
		R	Blumsack	SH 219