Banking and Finance (English)
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

General course introduction information

Course Code: FNCE422
Course Name: Energy Economics
Course Semester: Spring
Course Credits:
Theoretical Practical Credit ECTS
3 0 3 6
Language of instruction: EN
Course Requisites:
Does the Course Require Work Experience?: No
Type of course: Faculty Elective
Course Level:
Bachelor TR-NQF-HE:6. Master`s Degree QF-EHEA:First Cycle EQF-LLL:6. Master`s Degree
Mode of Delivery: Face to face
Course Coordinator : Prof. Dr. FATMA ÇİĞDEM ÇELİK
Course Lecturer(s):
Course Assistants:

Course Objective and Content

Course Objectives: The importance of energy in economic development is undisputable. Globalization and the trend towards liberalization, deregulation and privatization also make energy markets center of interests.
Energy economics studies energy resources and energy commodities and includes forces motivating firms and consumers to supply, convert, transport, use energy resources, and to dispose of residuals; market structures and regulatory structures; distributional and environmental consequences.
The course on energy economics also covers energy market models around the globe. Electricity markets will be analyzed in depth. The main emphasis will be on the differing experiences in electricity markets of countries and districts.
Course Content: Introduction to energy markets; the distinction between primary and secondary energy; the distinction and relationship between domestic and international energy markets, coal markets, oil markets, natural gas markets, electricity markets; structures of the energy markets; price dynamics; market regulation; investment in energy markets; competition in energy markets; trade in energy; energy dependency and energy security issues; energy policies and their effects on the market structure and price dynamics global warming, energy-climate controversies.

Learning Outcomes

The students who have succeeded in this course;
Learning Outcomes
1 - Knowledge
Theoretical - Conceptual
1) Have the basic knowledge to understand energy resources and policies
2) Solid information is established.
3) Will be able to understand the global warming debate and produce ideas.
4) To be able to analyze renewable energy sources
5) To be able to explain the basic criteria (such as efficiency, energy security and sustainability) used in policy discussions
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Lesson Plan

Week Subject Related Preparation
1) The Aspects of World Energy none
2) Economic Theory and World Oil reading
3) Natural Gas Economics reading
4) Coal and Discontents reading
5) Nuclear Energy reading
6) Renewable Energy reading
7) Economics and Electricity reading
8) Electricity (Analysis in depth, models, countries, regions.....) reading
9) Energy and Money reading
10) Global Warming reading
11) Turkey (energy issues) reading
12) Water Energy reading
13) Water Agrıculture reading
14) None- Hydro Renewable reading
15) Fınal Exam none

Sources

Course Notes / Textbooks: Ferdinand E Banks (2007), The Political Economy of World Energy, World Scientific Publishing Co.
Steven Stoft(2002),Power System Economies, IEEE Press.
Colin Robinson (2003), Competition and Regulation in Utility Markets.
Geoffrey Rothwell and Thomas Gomez (2003), Electricity Economics.
Lester C.Hunt (2003),Energy in a Competitive Market.
Jean-Michel Glanchant and Dominique Finon(2003), Competition in European Electricity Markets.
Ahmad Farquei and Kelly Eakin(2003), Pricing in Competitive Electricity Markets.
Venkataraman Krishnaswamy, and Gary Stuggins(2003),Private sector participation in the power sector in Europe and Central Asia : lessons from the last decade.World Bank.
Joanne Evans and Lester C. Hunt(2009), International handbook on the economics of energy, Northampton : Edward Elgar Publishing
Chick Martin(2009), Electricity and energy policy in Britain, France and the United States since 1945, Northampton : Edward Elgar Publishing.
Jean-Michel Glachant, Francois Lâevãeque(2009),Electricity reform in Europe : towards a single energy market, Cheltenham, UK ; Northampton, MA : Edward Elgar, c2009
References: Ferdinand E Banks (2007), The Political Economy of World Energy, World Scientific Publishing Co.
Steven Stoft(2002),Power System Economies, IEEE Press.
Colin Robinson (2003), Competition and Regulation in Utility Markets.
Geoffrey Rothwell and Thomas Gomez (2003), Electricity Economics.
Lester C.Hunt (2003),Energy in a Competitive Market.
Jean-Michel Glanchant and Dominique Finon(2003), Competition in European Electricity Markets.
Ahmad Farquei and Kelly Eakin(2003), Pricing in Competitive Electricity Markets.
Venkataraman Krishnaswamy, and Gary Stuggins(2003),Private sector participation in the power sector in Europe and Central Asia : lessons from the last decade.World Bank.
Joanne Evans and Lester C. Hunt(2009), International handbook on the economics of energy, Northampton : Edward Elgar Publishing
Chick Martin(2009), Electricity and energy policy in Britain, France and the United States since 1945, Northampton : Edward Elgar Publishing.
Jean-Michel Glachant, Francois Lâevãeque(2009),Electricity reform in Europe : towards a single energy market, Cheltenham, UK ; Northampton, MA : Edward Elgar, c2009

Course-Program Learning Outcome Relationship

Learning Outcomes

1

1

2

3

4
Program Outcomes
1) Explain the essential body of knowledge in the area of banking and finance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
2) Employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
3) Recognize why financial institutions and financial intermediation exist and how they are structured.
4) Distinguish the insight about basic banking principles and regulations surrounding the banking industry.
5) Discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
6) Recognize, interpret and discuss the current global economic issues.
7) Communicate in written and oral English with people from diverse backgrounds, and have the English proficiency to follow and interpret the global dynamics in the areas of banking and finance.
8) Express the role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
9) Identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Explain the essential body of knowledge in the area of banking and finance, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
2) Employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
3) Recognize why financial institutions and financial intermediation exist and how they are structured.
4) Distinguish the insight about basic banking principles and regulations surrounding the banking industry.
5) Discover and create entrepreneurial opportunities and expertise to successfully establish and develop their own ventures.
6) Recognize, interpret and discuss the current global economic issues.
7) Communicate in written and oral English with people from diverse backgrounds, and have the English proficiency to follow and interpret the global dynamics in the areas of banking and finance.
8) Express the role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management.
9) Identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.

Learning Activity and Teaching Methods

Field Study
Peer Review
Individual study and homework
Report Writing
Technical Tour

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Oral Examination
Application
Individual Project
Reporting

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Attendance 1 % 10
Midterms 1 % 40
Final 1 % 50
total % 100
PERCENTAGE OF SEMESTER WORK % 50
PERCENTAGE OF FINAL WORK % 50
total % 100

Workload and ECTS Credit Grading

Activities Number of Activities Workload
Course Hours 16 48
Study Hours Out of Class 16 64
Project 1 12
Homework Assignments 16 32
Midterms 2 16
Final 1 22
Total Workload 194