Undergraduate Energy Economics

Prerequisite (s)
Mathematics, Mathematics for Economists, Microeconomics I, Microeconomics II, Macroeconomics I, and Macroeconomics II.

Course Aim
The aim of this course is to teach the role of the energy in production of goods and services and how changes in energy supplies and energy prices affect macroeconomic activity.

Course Goals
Learning basic concepts of energy economics
Learning the role of energy in production.
Analyzing energy supply, energy demand, and alternative energy sources.
Determining the macroeconomic effects of energy prices

Course Learning Outs and Proficiencies

The main learning output of this course is to learn how to analyze the relationships between energy, energy prices, and alternative energy sources and macroeconomic activity.

Required Readings:
-Harun Öztürkler ve Hakan Çermikli (2008), Enerji Ekonomisi ve Türkiye’nin Enerji Sorunları, Yayına Hazırlanmaktadır.
-Guido Buenstorf (2004), The Economics of Energy and the Production Process, Edward Elgar Publishing, Massachusetts.
Suggested Readings:

-Dasgupta, P. S. and G. M. Heal, 1979, Economic Theory and Exhaustible Resources, Cambridge University Press, Cambridge.
-Kavak, K., 2005, Dünyada ve Türkiye’de Enerji Verimliliği ve Türk Sanayiinde Enerji Verimliliğinin İncelenmesi (Energy Efficiency in the World and Turkey and Investigation of Energy Efficiency in the Turkish Industry), State Planning Organization, Publication Number 2689, Ankara.

Assessment Criteria

Midterm 30% and Final 70%

Semester Course Plan

Week/Subjects
1
Energy Economics: Basic Concepts
2
A Short History of Energy Economics
3
Energy Types and Reserves
4
Energy as a Factor of Production
5
Energy Prices and Production Costs
6
Energy Consumption
7
Energy Supply Security
8
Energy Markets
9
Alternative Energy Sources
10
Turkey’s Energy Problems
11
Turkey’s Energy Policies
12
European Union’s Energy Policies
13
Turkey as an Energy Bridge
14
Energy and Environmental Problems