ECON3008

ECON3008: Energy Economics, Management & Markets

Science and Engineering

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About this Unit

This unit introduces students the fundamentals of energy economics. While engineering decisions are contemplated after assessing numerous technical parameters and potential outcomes, no final decision is ever made without giving due consideration to the likely economic outcome of that decision, and how that decision will economically impact or be impacted by the wider market. Students are exposed to the following topics: macro and micro economics, markets (including supply and demand), income determination (product pricing and forecasting tools, exchange rates), costs determination (top-down, bottom-up, fixed and variable, estimating) and capital expenditure (estimating methods) & working capital. These factors are then used to compile a simple cash flow model where Students will be required to determine discounted cash flow-derived net present value incorporating: depreciation and amortisation schedules, royalties, free- or carried- interests, appropriate taxation and discounting. Students will be introduced to discounting (weighted average cost of capital, incorporating the cost of equity and the cost of debt) and variable (differential) discounting, as well as to the debt and equity costs of funding capital projects, and will be introduced to calculating project investment returns on projects. The unit provides an insight into the way in which projects and their associated companies are explicitly and comparatively economically evaluated.

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Unit Details

Credits25

Contact Hours5 Weekly

Result TypeGrade/Mark

AreaWASM: Minerals, Energy and Chemical Engineering (WASM-MECE) (1155)

Field of Education091900 Economics and Econometrics (Narrow Grouping)

Handbook View Official Handbook Page →

Tuition Pattern

Lecture2 x 2 hours weekly
Workshop1 x 1 hour weekly

Prerequisites

PrerequisitesSelect One

ENGR2002v1Introduction to Energy Engineering

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