MJ2383 Energy System Economics, Modelling and Indicators for Sustainable Energy Development

The overall objective of the course is to explore basic energy system economic concepts related to energy infrastructure investments, energy-environment economics and the role of indicators for sustainable development.

The participants will gain practical experience in the use of a range of economic tools and models. These include basic linear programming techniques, the economic interpretation of energy models and economic indicators relating to policy and technology scenarios.

In a group project, they will use an energy system model to map key economic indicators to sustainable development goals, and further develop their critical skills in modelling and results interpretation.

After the course, the students should be able to:

1. Explain key concepts in energy economics.
2. Evaluate economic tools and apply them to examine energy investments and operation.
3. Describe the economic drivers of long term energy transitions and critique how these are modelled.
4. Develop and apply a techno-economic model to policies, technologies and other interventions using scenario analysis.
5. Analyze key outputs of techno-economic models, including system costs and shadow prices, in combination with off-model data and interpret in terms of their social, economic and environmental dimensions and sustainable development.
6. Communicate concepts of energy economics using written, spoken and visual media.