Delivered at:: School of World Economy

Course type:: Elective course

When:: 3 year, 3, 4 module

Instructor

Mezhidova, Dzhanneta

Full Syllabus

Abstract

The course provides a general overview of the current state and the most recent trends in global and regional energy markets. It consists of two major parts. During the first part, we analyze fossil fuel markets - coal, oil and natural gas. The analysis encompasses key trends, opportunities and constraints, upstream and midstream segments, major players (both countries and companies), prices and factors that determine them, existing institutions, contracts and price mechanisms, regulations and agreements. The second part of the course focuses on renewable energy sources, nuclear energy and energy of the future (for example, low-carbon gases). We analyze Paris Agreement and its implications for energy markets, the process of energy transition and its consequences. Students will receive both individual and team tasks, including writing strategies, preparing posters and presentations, discussing the literature and participating in a game.

Learning Objectives

Getting to know the key trends in global energy markets and studying factors that affect demand and supply of energy sources at different levels of aggregation and across different sectors
Getting a general idea of the way oil, gas, coal and power markets are operating
Getting the basic knowledge of the geography of energy resources to understand how the production, distribution and consumption of energy and energy pricing are determined and experienced in different regions and countries
Determining the role of Russia on the global energy markets and getting an insight into the way different energy sectors of Russia are operating
Addressing energy issues from the lens of an energy company and getting a taste of working for an energy firm via solving a practical business case-studies
Learning to do literature and information search, work through long reading assignments, prepare posters and presentations, improve public speaking and time management skills and skills for effective team-working

Expected Learning Outcomes

Able to communicate taking into account aims and situation of the discussion
Able to create analytical report based on Russian and foreign sources of information
Able to evaluate resource needs and plan them
Able to gather, analyze and work with statistical data, information, scientific and research reports, needed for solving economic tasks
Able to get scientific essence of the problems in professional field
Able to solve problems in professional field using analysis and synthesis
Able to study, obtain new knowledge and get new skills, including those different from the professional field

Course Contents

Introduction to the course
Coal market
Oil market
Russian oil industry
Practicum
World gas markets
Gas markets
LNG, hydrogen and low-carbon gases
Electric industry operations and markets
Renewables: solar and wind energy
Other sources of energy
Individual country posters

Assessment Elements

Midterm carbon game
Group application project
Essay
Class attendance
Participation in discussions
Individual presentations
Midterm oil company strategy project

Interim Assessment

2022/2023 4th module
0.25 * Participation in discussions + 0.1 * Midterm oil company strategy project + 0.2 * Group application project + 0 * Class attendance + 0.15 * Essay + 0.2 * Midterm carbon game + 0.1 * Individual presentations

Bibliography

Recommended Core Bibliography

21st century energy markets : how the changing dynamics of world energy markets impact our economy and energy security : hearing before the Subcommittee on Energy and Power of the Committee on Energy and Commerce, House of Representatives, One Hundred Fourteenth Congress, first session, March 3, 2015. (2015). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsgpr&AN=edsgpr.000959577
Nyangon, J. (2015). The U.S. Shale Gas Revolution and its Implications for International Energy Policy. MPRA Paper. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.pra.mprapa.91487

Recommended Additional Bibliography

A Global Perspective on Energy Markets Climate Change & Economic Integration: Problems and Prospects. (2008). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsstc&AN=edsstc.1146287

Bachelor’s Programme 'World Economy'

International Energy Markets