ECON40P15: Energy and Climate Economics and Finance

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• To provide students with an advanced knowledge and critical understanding of the economic aspects of energy and climate issues.
• To provide an overview of energy and climate policy energy regulation in a Net Zero context
• To provide an overview of energy regulation and key financial aspects of the transition to Net Zero

• Energy and climate policy in a Net Zero context
• The Net Zero goal under an international perspective
• Energy and carbon trading
• Current and future energy markets
• Funding of new energy projects, and an introduction to the levelized cost of energy
• Regulating emissions and externalities in competitive and imperfect markets
• Innovation and adoption of new technologies
• Mitigation and adaptation solutions to climate change
• International climate agreements

Subject-specific Knowledge:

• An understanding of how policies might deliver a Net Zero outcome
• A knowledge of how policy drives energy systems innovations
• A knowledge and understanding of the economics governing consumer use and purchase of energy
• An understanding of the specifics of various energy financial instruments and of how these regulated trading systems influence the cost of electricity
• An advanced knowledge and critical understanding of the contribution of economic analysis to deal with climate change
• A critical appreciation of the role of free markets and/or government intervention to deal with climate change
• Have explored, understood and appreciated the complexity and contradictions of the current academic literature and its implications for professional practice, and be able to identify open questions for their own research.

Subject-specific Skills:

• Be able to solve complex problems algebraically, and make use of graphical analysis at an advanced level.
• The capacity to understand alternating financial perspectives on the renewable energy sector
• The ability to engage in national and international carbon trading mechanisms

Key Skills:

• Capacity for independent self-learning within the bounds of professional practice.
• Written communication
• Problem solving and analysis

• A combination of lectures, seminars and guided reading will contribute to achieving the aims and learning outcomes of this module. Summative assessment by online written examination will test students' knowledge and understanding of the subject-matter, their critical judgement and problem-solving skills.

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