GRA 8501 Energy Economics and Geopolitics (2019/2020)
GRA 8501 Energy Economics and Geopolitics (2019/2020)
This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.
The course is focusing on understanding the global arena and business picture in energy in which digitalisation, sustainability and internaational issues are key topics for future management in the energy sector
The candidates have achieved scientific based knowledge of the world energy economics and have achieved the capability of assessing international trends and development in the energy sector
The participants have achieved detailed knowledge and understanding of the formation of energy prices, the distribution of resource rent, energy policy, international energy affairs and resource management in major producing countries is discussed.
Participants will acquire an integrated understanding of economic, political and industrial conditions valid in the energy industry, on both non-renewable and renewable energy markets, company strategies and government policies.
The candidates achieve the detailed knowledge on the impact of environmental challenges and climate change is discussed in relation to the energy industry, international regulation and government policy.
The participants will acquire insights and perspectives on the particularities of energy sector, drivers of demand and supply, new business models and impact of digitalisation, international political and economic implications, as well as environmental and climate challenges.
The participants shall develop skills of assessing market analyses, assessing technology trends including utilisation of digitalisation such as IOT, machine learning, robotics and real time monitoring, and the associated impact on new business models and patterns.
The candidates shall establish the capability of utilizing the digitalisation in management and performance og the operations.
The candidates are qualified to critically review the facts, figures and structures related to the geopolitical issues.
The candidates are capable of discussing energy economics and regulation both for renewable and non-renewable resources, for the environment and the prospects for a greener economy.
The candidates are capable of discussing the opportunities and challenges of digitalisation on operation performance as well as the security and potential cyber crime issues threatening the production facilities
- Major challenges to energy markets, companies and policies
- Drivers in, and interaction between, markets for non-renewable and renewable energy sources
- Energy economics, restructuring and regulation of markets and industries
- Energy policy and energy geopolitics
- The prospects for renewable energy sources
- The international energy business
- Formation of international energy prices
- Distribution and accumulation of resource rent, and the role Sovereign Wealth Funds (SWFs)
- The roles of the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA)
- Resource management in petroleum producing countries
- The Middle East, Russia and the United States (US) as major petroleum provinces
- The shale oil and gas revolutions
- Energy policies of the European Union and the US
- Chinas and other new economies role in energy demand
- New business models applied in energy sector
- Performance improvement through the expanded use of digitalisation, IOT, machine learning, remote control and real time assessments
- Environmental economics and climate change
1 ECTS credit corresponds to a workload of 26-30 hours.
Attendance to all sessions in the course is compulsory. If you have to miss part(s) of the course you must ask in advance for leave of absence. More than 25% absence in a course will require retaking the entire course. It's the student's own responsibility to obtain any information provided in class that is not included on the course homepage/ It's learning or other course materials.
Sessions include lectures, seminars and group work.
Specific information regarding student evaluation beyond the information given in the course description will be provided in class.
The course is a part of a full Executive Master of Management in Energy (EMME) and examination in all courses must be passed in order to obtain a certificate.
Granted admission to the Executive Master of Management in Energy programme.
| Assessments |
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Exam category: Submission Form of assessment: Written submission Weight: 60 Grouping: Individual Duration: 30 Day(s) Comment: The students are evaluated through an individual 30 days course paper, counting 60% of the final grade. Exam code: GRA 85011 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Activity Form of assessment: Class participation Weight: 40 Grouping: Individual Comment: The students are evaluated through class participation, counting 40% of the final grade. Exam code: GRA 85011 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 5 ECTS credit corresponds to a workload of at least 135 hours.