Economics of Energy and Environment

Electricity is more than a commodity; it is the backbone of digital infrastructure and industrial productivity. While a well-functioning system should theoretically ensure cost-effective generation, signal investment needs, and support "Net Zero" targets without compromising reliability, practical realities often fall short. Understanding why these systems fail—and exploring how to improve them—requires rigorous economic analysis. This course explores how modern electricity systems are organized, regulated, and transformed within an economic context.

Learning Objectives: By the end of this course, students will be able to:
1. Understand the institutional design and regulatory frameworks of modern power systems.
2. Apply concepts from microeconomics, industrial organization, and regulatory economics to real-world energy markets.
3. Analyze market inefficiencies and the gap between theoretical market design and practical implementation.
4. Evaluate the policy implications and economic strategies required to achieve the energy transition and grid reliability.