Course Syllabus
Contact Information
Course Description
This course covers the topics related to the economic analysis of the energy industry markets at both the domestic and international levels. The natural gas market is at the center of our analysis but other topics such as energy scenarios, energy demand and supply analyses, determination of prices under different market structures, various energy sectors, role of energy efficiency, and energy policy will be discussed. We will examine a few specific energy markets including the global oil, natural gas, electricity, and coal markets.
Course Objectives:
- Demonstrate a big picture understanding of various segments of the energy markets and their connections
- Understand and apply results in the energy scenario models to specific decisions
- Understand cost curves as well as supply and demand dynamics and their implications for investment decisions
- Apply a basic microeconomic model to describe the production, pricing, and consumption of energy.
- Apply the tools of economics to assess contemporary issues in energy markets
Course Details
For a list of course activities, scroll to the bottom of this page.
Course Prerequisites
- Basic mathematics and calculus including understanding simple functions and their derivatives
- Ability to organize data and run simple calculations in Excel
Course Materials
Suggested Textbooks
- Schwarz, P., 2018, “Energy Economics”, Rutledge
- Nersesian, R.L., 2016, Energy Economics: Markets, History and Policy”, Routledge.
Additional Textbooks
- Bhattacharyya, S. 2011. “Energy Economics: Concepts, Issues, Markets and Governance”, Springer-Verlag.
- OU Libraries Online Access
- https://ou-primo.hosted.exlibrisgroup.com/permalink/f/1hp8lf/NORMANLAW_ALMA51454177710002042
- Evans, J., and Hunt, L. C., 2011, eds. "International Handbook on the Economics of Energy." Edward Elgar Pub
- Rubino, A., Sapio, A. and La Scala, M. eds., 2021. “Handbook of energy economics and policy: Fundamentals and applications for engineers and energy planners”, Elsevier.
No single textbook is required. Selected chapters of the recommended textbooks are available through the OU library or will be shared on Canvas.
Required software: Excel
Grades
Breakdown
| Activity | Description | Points/Percentage |
|---|---|---|
|
Weekly quizzes |
Weekly online quizzes (8-10 questions) and assignments testing basic knowledge of the topics covered that week. |
25* |
|
Class participation |
Participation in forum discussions |
15 |
|
Course project |
A team-based activity to apply concepts and models of the course to a specific real-world problem |
30 |
|
Final Exam |
A written online exam measuring understanding of concepts and the ability to analyze real-world problems. |
30 |
| Total | 100 |
* I will drop the quiz with the lowest score. Thus, you can miss one quiz with no penalty.
Scale
| Percentage | Letter Grade |
|---|---|
| 90–100% | A |
| 80–89% | B |
| 70–79% | C |
| 60–69% | D |
| Below 60% | F |
Course Components
The course involves a combination of teaching and learning methods. It will combine course videos, online discussion boards, online quizzes and exercises, and a project case analysis to motivate students and train them in the appropriate use of energy economics topics and concepts.
Course Component 1: Videos
A series of videos will be shared to provide students with basic knowledge about each module.
Course Component 2: Quizzes
Weekly quizzes encourage students review concepts that are covered through that week.
Course Component 3: Team Project
Student teams (consisting of 2-3 students) pick one emerging issue in the energy industry and will make use of concepts and techniques learned in the class to produce in-depth analysis of various forces around the issue. The final outcome is expected to be a short video (12 minutes) as we as a 10000-word final report.
Course Component 4: Discussion boards
Student will receive credit for class participating through their activities in the online discussion board and assignments. Student can participate through either starting a new thread or commenting on existing threads.
Exams
The course concludes by a final exam that tests students basic understanding of fundamental topics as well as their ability to apply concepts and techniques learned in the class for various real-world problems.
Course Policies
Academic Integrity
Strict adherence to the highest standards of academic honesty is essential for a trusting and productive learning environment. I expect you to make it explicitly clear whenever you use someone else’s ideas in your work. This includes your work on both final project and the class assignments such as homework and labs.
Ethics and Cooperation: You are allowed to discuss lecture and textbook materials, and how to approach quizzes and assignments. You cannot share ideas in any written form: slides, reports, or solutions. You cannot submit someone else's work found through the internet or any other source, or a modification of that work, with or without that person's knowledge, regardless of the circumstances under which it was obtained, copied, or modified. Of course, no cooperation is allowed during exams.
The vast majority of students at OU does their work honestly and expects that all will be graded on merit. In order to ensure fair grades, cheating and plagiarism will not be tolerated. We will abide by OU’s policy You are responsible for knowing what plagiarism is. If you have questions, please see the OU website at http://www.ou.edu/provost/integrity
Sanctions for cheating and plagiarism will be an “F” for the course, and the misconduct will be reported.
Communication
Communications can be done through email or Canvas message. I do my best to respond to emails in less than 24 hours (during the weekdays) and 48 hours during weekends. If you do not hear back from me after 48 hours, please assume that I have not received your message and do send me a reminder.
Late Policy
- Students are allowed to miss one quiz. The lowest quiz grade will be dropped.
- Late assignments will receive 10% penalty per day.
Course Evaluations
The Mewbourne School of Petroleum and Geological Engineering utilizes student ratings as one of the bases for evaluation in the teaching effectiveness of each of its faculty members. The results of these ratings are important data used by the faculty members to improve their own teaching effectiveness, and programs use the data to assess achievement of a set of learning outcomes. The original request for the use of these forms came from students, and it is the students who eventually benefit most from their use. Please take this task seriously, evaluate courses on-line, and respond as honestly and precisely as possible, both to the machine-scored items and to the open-ended questions. We appreciate your feedback.
University Academic Policies and Student Support
Course Catalog
Search the OU Course Catalog.
Student Handbook
Please familiarize yourself with the OU Student Handbook.
Online Library
Access digital materials and other resources at OU Libraries.
Academic Misconduct
In addition to the course conduct policies outlined by your professor in the Course Syllabus in the online classroom, please review the Graduate Student Handbook.
It is the responsibility of each student to be familiar with the definitions, policies, and procedures concerning academic misconduct. The Student Code is available from the Office of the Vice President for Student Affairs, and is contained in the Student's Guide to Academic Integrity.
This site also defines misconduct, provides examples of prohibited conduct, and explains the sanctions available for those found guilty of misconduct.
Plagiarism
Plagiarism is the most common form of academic misconduct at OU. There is basically no college-level assignment that can be satisfactorily completed by copying. OU's basic assumption about writing is that all written assignments show the student's own understanding in the student's own words. That means all writing assignments, in class or out, are assumed to be composed entirely of words generated (not simply found) by the student, except where words written by someone else are specifically marked as such with proper citation. Including other people's words in your paper is helpful when you do it honestly and correctly. When you don't, it's plagiarism.
For more information about plagiarism, watch this video and then take this short course offered by University Libraries.
Diversity Statement
The University of Oklahoma is committed to achieving a diverse, equitable, and inclusive university community by embracing each person's unique contributions, background and perspective. The University of Oklahoma recognizes that fostering an inclusive environment for all, with particular attention to the needs of historically marginalized populations, is vital to the pursuit of excellence in all aspects of our institutional mission. This enhances the OU experience for all students, faculty and staff and for the communities we engage.
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Long before the University of Oklahoma was established, the land on which the University now resides was the traditional home of the “Hasinais” Caddo Nation and “Kirikirʔi:s” Wichita & Affiliated Tribes.
We acknowledge this territory once also served as a hunting ground, trade exchange point, and migration route for the Apache, Comanche, Kiowa and Osage nations. Today, 39 tribal nations dwell in the state of Oklahoma as a result of settler and colonial policies that were designed to assimilate Native people.
The University of Oklahoma recognizes the historical connection our university has with its indigenous community. We acknowledge, honor and respect the diverse Indigenous peoples connected to this land. We fully recognize, support and advocate for the sovereign rights of all of Oklahoma’s 39 tribal nations. This acknowledgment is aligned with our university’s core value of creating a diverse and inclusive community. It is an institutional responsibility to recognize and acknowledge the people, culture and history that make up our entire OU Community.
Non-Discrimination Policy
The University does not discriminate or permit discrimination by any member of its community against any individual based on the individual’s race, color, religion, political beliefs, national origin, age (40 or older), sex, sexual orientation, genetic information, gender identity, gender expression, disability, or veteran status in matters of admissions, employment, financial aid, housing, services in educational programs or activities, or health care services that the University operates or provides. For more information, please contact the Institutional Equity Office.
Reasonable Accommodation for Disabilities
The University of Oklahoma is committed to providing reasonable accommodation for all students with disabilities. Students with disabilities who require accommodations in this course should contact their professor as early in the semester as possible.
Students with disabilities must be registered with the Accessibility and Disability Resource Center prior to receiving accommodations in this course.
If you have a disability and would like to request reasonable accommodation, please see the Graduate Student Handbook or get in touch with the Accessibility and Disability Resource Center.
Adjustments for Pregnancy/Childbirth Related Issues
Should you need modifications or adjustments to your course requirements because of documented pregnancy-related or childbirth-related issues, please contact me as soon as possible to discuss your options. Generally, modifications will be made where medically necessary and similar in scope to accommodations based on temporary disability. Learn more about the rights of pregnant and parenting students by consulting the FAQ sheets provided by the Institutional Equity Office.
Title IX Resources
For any concerns regarding gender-based discrimination, sexual harassment, sexual misconduct, stalking, or intimate partner violence, the University offers a variety of resources, including advocates on-call 24/7, counseling services, mutual no contact orders, scheduling adjustments and disciplinary sanctions against the perpetrator. Please contact the Title IX Office at 405-325-2215 (8–5, M–F) or OU Advocates at 405-615-0013 (24/7) to learn more or to report an incident. Also, please be advised that a professor/GA/TA is required to report instances of sexual harassment, sexual assault, or discrimination to the Sexual Misconduct Office.
Religious Holidays
The university's policy is to excuse absences of students that result from religious observances and to provide without penalty for the rescheduling of examinations and additional required classwork that may fall on religious holidays. It is the responsibility of the student to make alternate arrangements with the instructor at least one week prior to the actual date of the religious holiday.
Student Grievances
In addition to any policies outlined related to submitting an informal or formal grievance by your professor in the Course Syllabus in the online classroom, please review the Graduate Student Handbook for more information about the process of submitting a formal grievance.
Copyright Policy
It is illegal to download, upload, reproduce, or distribute any copyrighted material, in any form and in any fashion, without permission from the copyright holder or their authorized agent. The University of Oklahoma expects all members of its community to comply fully with federal copyright laws. If such laws appear to have been violated by any user, the university reserves the right (1) to terminate that user's access to some or all of the university's computer systems and information resources and (2) to take additional disciplinary actions as deemed necessary or appropriate. Repeat offenders will be sanctioned and their privileges terminated.
Registration and Withdrawal
If you choose to withdraw from this course, you must complete the appropriate University form and turn the form in before the deadline. If you stop attending the course and doing the coursework without the required paperwork, your grade will be calculated with missed homework and examination grades entered as zero. This could result in receiving a grade of F in the course. Deadlines are shown in the Academic Calendar, which is available from the Office of the Registrar.
Course Summary:
| Date | Details | Due |
|---|---|---|