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Operations Research - Methods for Energy and Resource Markets

6 LP

English

#70051 / #1

SS 2016 - WS 2017/18

Fakultät VII

H 33

Institut für Volkswirtschaftslehre und Wirtschaftsrecht

38311500 FG Volkswirtschaftlehre, insb. Wirtschafts- und Infrastrukturpolitik

Hirschhausen, Christian

Oei, Pao-Yu

or@wip.tu-berlin.de

POS-Nummer PORD-Nummer Modultitel
2346338 37260 Operations Research - Methods for Energy and Resource Markets

Learning Outcomes

KNOWLEDGE: Students will be able to describe and explain the topics listed in the 'content' section. SKILLS: Students will be able to analyze market stuctures, use standard software, and write scientific texts. ABILITIES: Students will be able to create their own mathematical programs in order to empirically evaluate short and long term trends in energy resource markets.

Content

The course focuses on advanced numerical modeling of different natural resource markets. Each year is hereby focussing on a different main topic. The analyzed energy resource markets include various sectors, such as e.g. natural gas, steam coal, lignite, oil, CO2 or uranium. The course begins with an introduction to relevant economic theories to analyze the market structures in the respective resource sectors incl. aspects of game theory. This analysis is followed by a quantitative analysis based on various elements of operations research to solve optimization and equilibrium models using the software General Algebraic Modeling System (GAMS).

Module Components

Pflichtgruppe:

All Courses are mandatory.

Course Name Type Number Cycle Language SWS
Operations Research - Methods for Energy and Resource Markets SEM 71 15 L 46 SS English 4

Workload and Credit Points

Operations Research - Methods for Energy and Resource Markets (SEM):

Workload description Multiplier Hours Total
Class attendance 15.0 4.0h 60.0h
Class preparation and follow-up 15.0 2.0h 30.0h
Preparation of presentations and term paper 1.0 90.0h 90.0h
180.0h (~6 LP)
The Workload of the module sums up to 180.0 Hours. Therefore the module contains 6 Credits.

Description of Teaching and Learning Methods

The module is taught as seminar in weekly 4-hour blocks. The lecture combines theoretical approaches and methods from the field of operations research with application to energy resource markets. Students are given individual papers to present and discuss during the seminar. Students will, in addition, prepare and present a term paper in small groups applying the theoretical knowledge to a current topic in energy resource economics.

Requirements for participation and examination

Desirable prerequisites for participation in the courses:

advanced mathematical skills, interest and basic knowledge in energy resource economics

Mandatory requirements for the module test application:

1. Requirement:
Modul 70042 (Energie und Ressourcen - Einführung) passed  or
Modul 70128 (Energiewirtschaft - Energie- und Ressourcenpolitik (EW-POL)) passed  or
Modul 70130 (Energy Economics - Advanced Energy and Resources Policy (EW-AER)) passed  or
Modul 70125 (Energie und Ressourcen - Grundlagen) passed
2. Requirement:
Modul 70146 (Operations Research - Grundlagen (OR-GDL)) passed

Module completion

Grading:

graded

Type of exam:

Portfolio examination

Language:

English

Typ of portfolio examination

No information

Test elements

Name Categorie Duration/Extent
Individual Presentation and Participation 20 No information
Intermediate Group Presentation 20 No information
Term Paper 60 No information

Grading scale

No grading scale given

Test description (Module completion)

The portfolio examination consists of the following elements, adding up to a maximum of 100 credits. The grading follows the joint conversion key of the School of Economics and Management (decision of the school's council dated May 28, 2014 - FKR VII-4/8-28.05.2014).

Duration of the Module

This module can be completed in one semester.

Maximum Number of Participants

The maximum capacity of students is 12.

Registration Procedures

Registration via email (including matriculation number and study program) to or@wip.tu-berlin.de. Registration deadline: April 10 for summer semesters.

Recommended reading, Lecture notes

Lecture notes

Availability:  unavailable

Electronical lecture notes

Availability:  available
Additional information:
www.isis.tu-berlin.de

Literature

Recommended literature
Relevant literature will be provided in the course.

Assigned Degree Programs

This module is used in the following modulelists:

Miscellaneous

No information