ECON_489 Puller_syllabus_fall2011

ECON_489 Puller_syllabus_fall2011 - Econ 489/689 Prof....

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Puller Econ 489/689 Prof. Steve Puller Energy Markets, Finance, and Policy Overview and Course Objectives: The course provides an in-depth survey of recent changes in energy markets, finance, and regulatory policy. New energy markets are developing, and environmental regulation is targeting the energy sectors. As a result, it is critical to understand the fundamentals of how these markets operate so that optimal energy policy can be designed. This course uses basic economic theory as a framework to analyze the real-world operation of energy sectors including gasoline, oil, electricity, and natural gas. Empirical research in these areas draws upon the experiences in the U.S. and elsewhere so that theoretical discussions are informed with evidence from actual experience. The theory and empirical analysis will explore the optimal design of energy policy in areas such as gasoline taxes, fuel economy regulations, electricity markets, cap- and-trade programs to reduce CO2 emissions, and policies to develop renewable sources of energy. At the end of the course, you should be able to apply economic tools to critically analyze the design of efficient policy to various energy sectors. Required Text: The source materials for this course will be contemporary academic and policy papers. All readings are assembled in a course reader available from Notes N Quotes (701 W. University, 846-2255). For refreshment on the basic tools of microeconomics, see Microeconomics by Pindyck and Rubinfeld. Class Web Page: http://econweb.tamu.edu/puller/econ489689.htm Office Hours: Allen 3039, (979) 845-7349, puller@econmail.tamu.edu , Tues 4:30-5pm, Wed 1:30-3pm, or by appointment. Course Expectations: We will discuss a variety of important contemporary energy issues. We will draw upon the toolkit of applied microeconomics to provide our analytical framework. Class discussion is required by everyone; participating in classroom discussion will help you clarify your own thinking. At the end of each lecture, I will tell you the reading material for the next lecture. I expect you to complete the readings before lecture – this will improve your understanding of the material, facilitate class discussion, and very likely raise the grade you receive in the course. Prerequisites : ECON 323 (or equivalent) and STAT 303/211 (or equivalent), or permission of instructor
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Puller Evaluation: 2 Midterm Exams (30% each) + Final Exam (30%) + Participation in class discussion and OPEC strategy game (10%). [Slightly different requirements for students taking ECON 689; see below]. The tentative dates for the midterm exams are Tuesday October 11 and Tuesday November 15. After averaging all grades, your final grade will be based upon: 90- 100=A, 80-89=B, 70-79=C, 60-69=D, and below 60=F. This is a stacked course with some students taking the course as ECON 489 and others taking it
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ECON_489 Puller_syllabus_fall2011 - Econ 489/689 Prof....

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