Challenges in Energy Markets I
This Module is offered by Associate Professorship of Economics of Energy Markets (Prof. Schwenen).
This module handbook serves to describe contents, learning outcome, methods and examination type as well as linking to current dates for courses and module examination in the respective
Module version of WS 2011/2
There are historic module descriptions of this module. A module description is valid until replaced by a newer one.
Whether the module’s courses are offered during a specific semester is listed in the section Courses, Learning and Teaching Methods and Literature below.
WI001039 is a semester module
which is offered irregularly.
This module description is valid to SS 2019.
In the course of this module, students gain an overview of the challenges in energy markets. The module covers the following topics: expectations for the energy market up to 2030; mix of power generation technologies; changes in energy markets of selected countries; Germany’s energy transition; global competition; features of various business models and their strategic implications for suppliers of energy technologies; execution of energy projects incl. stages, challenges, risks, financing models; supply chain management applied to power plant projects; methods to foster innovation
Upon completion of the module, students understand the fundamental changes taking place in the worldwide energy markets and the specific challenges worldwide. Furthermore, they can explain the interactions of market mechanisms and their technical, macroeconomic and microeconomic impact. Students can also explain the competitive environment and the various business models of a manufacturer of energy technologies and how successful large-scale power plant projects are executed. Moreover, they can identify key success factors for business development and can evaluate business models from the viewpoint of the capital market. They can evaluate and explain different financing models for power plant projects and methods to foster innovation in this area.Finally, they can apply theoretical concepts on energy markets and manufacturers of energy technologies.
Learning and Teaching Methods
The module is delivered through lecture and combines various learning methods:
- Basic knowledge, theoretical concepts and practical examples regarding energy markets are provided through the lecture.
- Controversial discussions and active participation in class are encouraged to deepen understanding of the contents presented.
- Burger, M.; Graeber, B.; Schindlmayr, G.: Managing Energy Risk: An Integrated View on Power and Other Energy Markets. John Wiley & Sons, 1st Edition, 2007.
- Erdmann, G.; Zweifel, P.: Energieökonomik – Theorie und Anwendungen. Springer, 2. Auflage, 2010.
- International Energy Agency, World Energy Outlook
- Konstantin, P.: Praxisbuch Energiewirtschaft. Energieumwandlung, -transport und –beschaffung im liberalisierten Markt. Springer, 2. Auflage, 2009.
- Schiffer, H.-W.: Energiemarkt Deutschland. TÜV-Media, 11. Auflage, 2010.
- Yergin, D.:The Quest-Energy, Security, and the Remaking of the Modern World, 2012.
Description of exams and course work
The module examination is based on a written exam (60 minutes), which has two parts. The first part (≤ 50%) consists of multiple-choice questions, which test the students’ understanding and basic knowledge of global energy markets, energy projects and manufacturers of energy technologies. The second part consists of open questions, where students have to show their ability to analyze and evaluate global energy projects, current developments and the challenges for manufactures of energy technologies, including the successful execution of large-scale power plant projects worldwide. Students moreover have to apply their ability to compare various financing models for different power plant types. Students have to evaluate business models of manufacturers of energy technologies. Further, they have to apply theoretical concepts presented in the lecture. As an aid, only a monolingual dictionary is permitted.
There is a possibility to take the exam in the following semester.