Energy and Economy

The lecture “Energy and Economics” deals with current issues of energy supply, economics and social impacts. Since the fundamental energy generation technologies are not in the main focus, it is recommended to attend lectures like “Energy Systems” in advance. The lecture and the exam is held in German language. Involving external experts from industry the following topics are presented and discussed:
- Fundamentals of energy supply
- Commodity markets and world trade in primary energy
- Power trading
- Energy conversion concepts
- Methods of economic calculation
- Efficiency factors of power plants
- Governmental intervention in the market and liberalization
- Importance of energy-intensive companies to the economy
- Heat generation and supply
- Emissions and related costs
- Requirements for future energy systems

After successful participation in the lecture, students are able to understand the essential functioning and correlations of the energy markets. They can apply the methods of cost-effectiveness calculation to energy-related questions. The functioning of the electricity market is understood and can be reproduced. The basic principles of global trade in primary energy carriers as well as their transformation into other energy forms (heat, electricity ...) and the transport of energy carriers can be discussed and analyzed.

As the energy production technology itself is less treated, it is advisable to attend basic lectures such as energy systems 1 and sustainable energy systems in advance.

Frontal teaching, with media support by a PowerPoint presentation to disseminate knowledge with the aim of reproducing and discussing essential functions and relationships of the energy markets. Interactive exercises to deepen what has been learned, for example on the calculation of profitability. Interactive quiz to ensure the level of knowledge (At the beginning of each lecture the contents of the previous lecture are repeated).
During the semester, professional deliberations should be carried out by reading and editing book sections and / or paper articles as well as calculating simple exercises. The articles and tasks to be read are discussed / presented in the lecture and are also part of the exam.

Lecture, presentation (script), panel presentation, exercises

General literature will be announced in the lecture.

In a written exam (process time 60 min), it will be examined whether the students have understood the content conveyed regarding energy economy and can apply it to simple problems of the energy economy as well as energy conversion and transport.
No tools are allowed in the test. Task types are knowledge and understanding questions e.g. on basics of global trading with primary energy sources as well as their conversion to other energy forms (heat, power...) and the transport of the energy sources, short calculations e.g. on profitability calculation and drawing diagrams on energy policy but also on technological topics.
The exam will be in German, English answers are possible after consulting the lecturer.

The final score consists of the following elements:
- 100% final examination