This is the study programme for 2020/2021.

This course builds understanding of the global energy situation, energy and climate policies, and the market outlook for various energy carriers. Coverage includes conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their relationship to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course explores the macroeconomics of energy market developments for importers and exporters of energy resources.

Learning outcome

Having completed this course, students should be able to:
  • Understand connections and dilemmas of the nexus between economic growth, energy and climate policies, and energy demand
  • Demonstrate awareness of variation between energy technologies and energy carriers, as well as economic behaviour and price formation in each market segment
  • Reflect critically on the impact of shocks to demand, supply, prices and policies for the energy situation for energy-importing countries and for energy-exporting countries

Having completed this course, students should be able to:
  • Master analytical tools and methods to address questions relating to demand, supply, price formation and policy concerns for key energy carriers
  • Demonstrate advanced understanding of the impact of energy market developments for industry trends and business cycles in countries that are rich in energy resources.
  • Read and comprehend works at the academic frontier in this field of economics, and apply findings and results in own analytical work


  1. Economics of energy
      Global energy (drivers of energy demand, supply, energy and climate policies)
    • Economics of climate change (causes and consequences of climate policies, efficiency issues, impact on energy markets)
  2. Economics of energy markets
      Renewable energy sources (electricity investment and production, conventional power generation, economics of wind power and solar energy)
    • Non-renewable energy sources (oil and natural gas, investment and production, geography and technology, market structure, price formation, applied market analysis)
  3. Energy and the economy
      Macroeconomics of energy (energy-importers and energy-exporters)
    • Energy resource management (The Dutch Disease, the Resource curse, topics in resource revenue management, policy formation and sovereign wealth fund design)

Required prerequisite knowledge


Recommended previous knowledge

Bachelor degree in business administration, finance, or economics, Bachelor courses in microeconomics, macroeconomics, mathematics, and statistics, Master level courses in microeconomics, macroeconomics, and empirical methodology.  


Weight Duration Marks Aid
Written exam1/14 hoursA - FDictionary.
Valid calculator.

Coursework requirements

Assignment, class presentation, seminar presence and participation
One mid-term assignment has to be passed to qualify for the final exam. Evaluation of assignment (approved/not approved) based on
  • 1. Submitted essay
  • 2. Class presentation of essay (slidepack and performance)
  • 3. Presence and active participation in seminars (other students' presentations)

Course teacher(s)

Course coordinator
Lassi Mikael Ahlvik

Method of work

44 hours of lecturing, 12 hours of seminar activity (presentations of assignments), 190-240 hours of self-study and 4 hours school exam.

Overlapping courses

Course Reduction (SP)
Applied Learning Experience (MØA405_1) 5
Derivatives, risk and markets (IND640_1) 5

Open to

Energy, Environment and Society - masterstudium
Master in Accounting and Auditing
Business Administration - Master of Science
Business Administration - Master of Science (5 years)

Course assessment

Students will have the opportunity to give feedback on the course first in an early dialogue, and then in a written course evaluation at the end of the course.


Literatur will be published as soon as it has been prepared by the course coordinator/teacher

This is the study programme for 2020/2021.

Sist oppdatert: 20.09.2020