BU5061Course Syllabus 2018-19 PDF

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BU5061 - Economic Analysis for Energy Course Coordinator: Dr Mauro Papi Contact details: [email protected]

UNIVERSITY OF ABERDEEN BUSINESS SCHOOL 2018/2019

BU5061 - Economic Analysis for Energy Course Coordinator: Dr Mauro Papi

BU5061 - Economic Analysis for Energy | 2018/2019

Contents

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I. BASIC COURSE INFORMATION ..............................................................................................2 II. COURSE AIMS ......................................................................................................................2 III. MAIN LEARNING OUTCOMES ...............................................................................................2 IV. COURSE CONTENT ...............................................................................................................2 V. ASSESSMENT AND FEEDBACK ................................................................................................2 TEACHING ............................................................................................................................... 3 SUMMATIVE ASSESSMENT ........................................................................................................ 3 1ST ATTEMPT ........................................................................................................................ 3 RESIT: .................................................................................................................................. 3 FORMATIVE ASSESSMENT ......................................................................................................... 3 FEEDBACK ................................................................................................................................ 3 VI. GRADUATE ATTRIBUTES ...................................................................................................... 4 GRADUATE EMPLOYABILITY..................................................................................................... 4 ACADEMICALLY EXCELLENT .................................................................................................... 4 CRITICAL THINKERS AND EFFECTIVE COMMUNICATORS .......................................................... 4 OPEN TO LEARNING AND PERSONAL DEVELOPMENT .............................................................. 4 ACTIVE CITIZENS .................................................................................................................... 4 VII. ADMINISTRATION OF THE COURSE ...................................................................................... 4 COURSE COORDINATOR...........................................................................................................5 COURSE TEAM .........................................................................................................................5 VIII. COMMON SCHOOL POLICIES ...............................................................................................5 IX. FURTHER DETAILS ...............................................................................................................7 COURSE TEXTS.........................................................................................................................7 LECTURE PROGRAMME............................................................................................................ 8 TUTORIALS ............................................................................................................................. 9 WORKSHOPS .......................................................................................................................... 9 IN COURSE ASSESSMENTS - GUIDELINES, SUBMISSION PROCEDURES, DEADLINES ....................... 9 EXAMINATIONS....................................................................................................................... 9

I.

Basic Course Information Credit points: 15 Pre-requisite(s): Co-requisite(s): Students must be registered for one of the MSc in Petroleum Economics, Energy and Finance. Note(s): None

II.

Course Aims

The principal aims of the course is are:

To provide the student with understanding of and ability to apply the core microeconomic principles that are useful for energy economics.  To provide the student with a set of tools that will be used in more advanced/specialized courses in the program.  To introduce the student to the way in which economists think.



Main Learning Outcomes

The main objective of the course is to ensure that students are able to understand and apply basic economic models.

IV.

Course Content

The course covers topics, such as consumer theory, partial equilibrium, choice under uncertainty, intertemporal choice, theory of the firm.

V.

Asse ssme nt and Fe edbac k

BU5061 - Economic Analysis for Energy | 2018/2019

III.

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Teach ing There will be a mix of lectures and tutorials in this course. Teaching occurs on Thursday afternoon from week 7 to week 12 and on Friday morning from week 8 to week 17.  

Thursdays: 14:00-17:00, room King’s College KCG5. Fridays: 10:00-13:00, room MacRobert MR314.

Summative A ssessment 1st attempt 1st Attempt: 1 two-hour written examination (60%); continuous assessment (40%) consisting of two multiple-choice quizzes (carrying 20% weight each).

Resi t: 1 two-hour written examination.

Formative A ssessmen t

BU5061 - Economic Analysis for Energy | 2018/2019

This will take place via lecture, tutorial discussions.

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Feedb ack Feedback will be provided in various ways. First, selected exercises will be solved in class and students will have the chance to ask questions. Second, solution to selected exercises will be provided. Third, full solutions to the quizzes will be provided. Fourth, quizzes will be graded and their grades will be released as soon as possible. Fifth, students that do not understand are welcome to contact the lecturers for further explanations. At the University of Aberdeen Business School, we care about what you think and encourage you to provide us feedback. On MyAberdeen you can read the minutes of Staff Student Liaison Committees and how the School responded to issues raised (You Said, We Did). Find out more and how to get involved at: https://www.abdn.ac.uk/infohub/study/student-feedback.php

Ex ternal Ex aminers The external examiner for economics postgraduate programmes is TBA. Students must not contact the external examiner directly and external examiners receiving any direct contact from students will report this back to the School.

VI.

Graduate Attribute s Graduate emp loy ability BU5061 provides to students to better understand the dynamics of the energy market.

Academic ally Excellent BU5061 is an academically sound intermediate course in microeconomics.

Critical Th inkers and E ffecti ve C ommunicato rs Being problem-set based, the course encourages the students to develop critical thinking.

Open To Le arn ing and P erso nal Dev elopment A course objective is to develop problem-solving skills.

Active Citi zens Students are encouraged to think independently.

Visit http://www.qaa.ac.uk/docs/qaa/subject-benchmark-statements/sbs-economics15.pdf?sfvrsn=69e3f781_10

VII.

Administration of the Course

Administration of this course is via MyAberdeen. Announcements will be made using MyAberdeen. If we need to contact you personally, this will be via your university email address (make sure you check this regularly or set up email forwarding to an email address that you do check regularly) or to your term-time address (ensure you keep these details up to date via your student portal).

BU5061 - Economic Analysis for Energy | 2018/2019

Subj ect Benc hmarks

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Course Coord in at or Dr Mauro Papi ([email protected], Edward Wright Building, room S65)

Course Tea m Dr Mauro Papi ([email protected], Edward Wright Building, room S65) Dr Agathe Rouaix ([email protected], Edward Wright Building, room S62)

VII I.

Common School Policies

BU5061 - Economic Analysis for Energy | 2018/2019

This course adheres to the common Business School policies set out below:

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               

Attendance Policy Lateness Policy Medical Certification Policy Academic Integrity Policy Common Assessment Scale Resit Policy Undergraduate Progression Policy Honours Entry Policy Postgraduate Progression Policy Undergraduate Degree Classification Policy Postgraduate Degree Classification Policy Class Representation Policy Co-Curriculum Policy Appeals Policy Support for Disabled Students Feedback Policy

These are available on the course MyAberdeen site - click on the course name, then “School Handbooks, Forms, Policies, Resources” and then “School Policies” or go directly to the undergraduate policies or taught postgraduate policies. Students are asked to make themselves familiar with the information on key institutional policies which been made available within MyAberdeen. These policies are relevant to all students and will be useful to you throughout your studies. They contain important information and address issues such as what to do if you are absent, how to raise an appeal or a complaint and how seriously the University takes your feedback: https://abdn.blackboard.com/bbcswebdav/institution/Policies. These institutional policies should be read in conjunction with this programme and/or course handbook, in which School and College specific policies are detailed. Further information can be found on the

University¹s Infohub webpage or by visiting the Infohub. The information included in the institutional area for 2018/19 includes the following:              

Absence Academic Appeals & Complaints Assessment (Common Grading Scale) Codes of Practice on Student Discipline (Academic and Non-Academic) Class Certificates Recording of Lectures Exam Results Transcripts MyAberdeen TurnitinUK Feedback Communication Aberdeen Graduate Attributes The Co-Curriculum

Avoiding Plagiarism: Definition of Plagiarism: Plagiarism is the use, without adequate acknowledgment, of the intellectual work of another person in work submitted for assessment. A student cannot be found to have committed plagiarism where it can be shown that the student has taken all reasonable care to avoid representing the work of others as his or her own.

There are many styles of referencing and citing. The Business School recommends the use of the Harvard referencing style.The library produces useful information on Citing References. At present the University of Aberdeen uses Turnitin to check students work and you will be asked to submit an electronic version of your report to this for analysis. Further instructions on this will be given to you via the assessment guidance on MyAberdeen. The Centre for Learning & Teaching provides guidance on how to avoid plagiarism http://www.abdn.ac.uk/sls/online-resources/avoiding-plagiarism/ and you should refer to this prior to finalising your assignments. You will be required to submit your assignment through the Turnitin software and you should ensure you have read and understood the Information for Students on TurnitinUK http://www.abdn.ac.uk/sls/online-resources/avoiding-plagiarism/turnitin-uk/ prior to doing so. Failure to submit to Turnitin will result in your grade being given G3 (zero), as per the School’s

BU5061 - Economic Analysis for Energy | 2018/2019

Anyone who is investigated for alleged plagiarism is done so under the following Code of Practice on Student Discipline (Academic) http://www.abdn.ac.uk/staffnet/teaching/aqh/appendix5x15a.pdf

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policy on the Lateness Policy.

IX.

Furthe r Details

Course Text s Recommended textbooks The reference textbook for this course is:  Varian, Hal (2014). Intermediate Microeconomics. W. W. Norton & Company. Ninth Edition. An alternative reference textbook for this course is:  Goolsbee, Austan, Steven Levitt, and Chad Syverson (2013). Microeconomics. MacMillan. First Edition.

BU5061 - Economic Analysis for Energy | 2018/2019

An excellent introductory textbook to economics is:  Mankiw, N. Gregory and Mark P. Taylor (2010). Economics. Cengage Learning EMEA.

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Two more advanced textbooks are:  Jehle, Geoffrey A. and Philip J. Reny (2011). Advanced Microeconomic Theory. Pearson Education Limited.  Varian, Hal (1992). Microeconomic Analysis. W. W. Norton & Company. Third edition. All books are available in the library.

Lecture P ro gr amm e SECTION 1 Lecturer Dr. Mauro Papi

Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Thursday Friday

DATE 13th 13th 20th 20th 27th 27th 4th 4th 11th 11th 18th 18th 26th

September September September September September September October October October October October October October

TIME 14-16 16-17 14-16 16-17 14-16 16-17 14-16 16-17 14-16 16-17 14-15 15-17 10-11

TOPIC Introduction and the market Budget Constraint and Preferences Problem set 1 Utility and Demand Problem set 2 Market Demand and Equilibrium Problem set 3 Intertemporal Choice Problem set 4 First Class test Choice under Uncertainty Problem set 5 and 6

SECTION 2

Friday Friday Friday Friday Friday Friday Friday Friday Friday

DATE 26th 2nd 2nd 9th 9th 16th 16th 23rd 23rd

October November November November November November November November November

TIME 11-13 10-12 12-13 10-12 12-13 10-12 12-13 11-12 12-13

TOPIC Technology and Costs Technology and Costs Problem set 7 Supply Problem set 8 Market structures Problem set 9 Second Class test Problem set 10

IMPORTANT: The above lecture plan is only provisional and subject to change.

BU5061 - Economic Analysis for Energy | 2018/2019

Lecturer Dr. Agathe Rouaix

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IMPORTANT: all parts of this course will NOT be recorded. The reasons are that the course includes such a degree of interaction with students that recording is not viable and is delivered in a way that makes recording unsuitable (extensive use of whiteboard).

Tutorials Tutorials are student-led. Students are weekly assigned problem sets that they are expect to solve and present in front of the class in groups. Students are expected to present the exercises in a step-by-step fashion by explaining the intuition behind each step. Further details will be provided during the lectures or on MyAberdeen.

Workshops -

BU5061 - Economic Analysis for Energy | 2018/2019

Attendanc e Rule

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All students registered for a course must attend and engage with that course by signing up for and attending compulsory teaching sessions, and submitting in-course assessments. Failure to meet these requirements will attract penalty points. If you attract one penalty point you are liable to be deemed “at risk” (denoted by C6 on your student record). If you attract two penalty points you are liable to have your class certificate removed (denoted by C7 on your student record) meaning you will not be eligible to sit the examination and are effectively removed from the course.

In course assessment s - guidelines, submi ssio n procedur es, deadlin es To be announced in due course.

Ex amination s To be announced in due course....