ENERGY 721 : Energy Resources

Engineering

2023 Semester One (1233) (15 POINTS)

Course Prescription

Past, present and likely future uses of various forms of energy focused on electricity generation. Energy resources. Energy economics, prices and markets. Environmental considerations in energy production and use. Climate change, carbon sequestration, carbon trading and carbon taxes.

Course Overview

Economic Theory
This section of the course aims to provide participants with an understanding of the basic economic models applied to the development, use and management of energy resources. Naturally, with energy resources vested/owned by government (i.e. the Crown) the application of economics to energy policy is particularly relevant.
Economics of Climate Change
The economics of climate change part of the course starts off with an introduction to the science and predicted temperature changes under different scenarios. After discussing the scale of the problem and the response, the course analyses integrated assessment models; different critiques of these models are discussed before considering different policy responses to move the world towards a low carbon growth path to limit temperature increases over the next century.
Electricity Markets
In this section of the course we will present models for an energy market with focus on electricity as a commodity. Energy commodities such as electricity have particular requirements, such as not being storable and having to flow over a network. We will discuss marginal pricing, its long term effects in terms of investment and whether or not electricity markets have delivered their intent thus far.
Sustainable Energy Systems
In this we highlight the interconnections that exist in energy systems and discuss the challenges and opportunities in adopting sustainable policies worldwide.
Markets for Fossil Fuels
Having studied the basics of energy & resource economics and (climate change) externalities, this section focuses on 3 examples of energy markets: coal, oil & gas. These 3 ‘dirty old fossils’ still make up the mainstay of our energy supply and – despite gradual change – will most likely do so for decades to come. The lectures will describe how physical resource, geopolitical, technical and institutional characteristics influence the functioning of each type of market (oil, coal, gas) and how technology development can change these markets, although generally quite slowly.

Course Requirements

No pre-requisites or restrictions

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Capability 5: Independence and Integrity
Capability 6: Social and Environmental Responsibilities
Graduate Profile: Master of Energy

Learning Outcomes

By the end of this course, students will be able to:
  1. Analyse and apply game theoretic models of firms competing in markets (Capability 2 and 3)
  2. Understand and critically evaluate climate change models (Capability 1, 2, 3 and 6)
  3. Understand and explain the wholesale electricity market pricing (Capability 1, 2, 3 and 4)
  4. Explain and critically evaluate oil and gas policies (Capability 1, 2, 4 and 6)
  5. Understand and apply NPV analysis around investments and the impact of government policy (Capability 1, 2 and 4)
  6. Understand and apply screening curve methodology to find the right plant mix in electricity systems (Capability 1, 2 and 3)
  7. Use supply and demand curves to understand market outcomes (Capability 1, 2 and 3)
  8. Understand and critically evaluate the connections within energy systems. (Capability 1, 2, 4, 5 and 6)

Assessments

Assessment Type Percentage Classification
Assignments 100% Individual Coursework
Assessment Type Learning Outcome Addressed
1 2 3 4 5 6 7 8
Assignments

Workload Expectations

For this course, each week you can expect (on average) 3 hours of lectures, 3 hours of reading / thinking about the content and 4 hours of work on assignments.

Delivery Mode

Campus Experience

Lectures will also be available as recordings.

The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

The lecturer for each topic will provide course notes or slides on Canvas, and provide details about other useful resources.

Health & Safety

Students are expected to adhere to the guidelines outlined in the Health, Safety and Wellbeing Policy outlined on the University of Auckland website.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

Students and representatives have given regular, positive feedback on the ENERGY 721 course.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Class Representatives

Class representatives are students tasked with representing student issues to departments, faculties, and the wider university. If you have a complaint about this course, please contact your class rep who will know how to raise it in the right channels. See your departmental noticeboard for contact details for your class reps.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Learning Continuity

In the event of an unexpected disruption, we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and course assessment continues to meet the principles of the University’s assessment policy. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator/director, and if disruption occurs you should refer to the university website for information about how to proceed.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course students may be asked to submit coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. In exceptional circumstances changes to elements of this course may be necessary at short notice. Students enrolled in this course will be informed of any such changes and the reasons for them, as soon as possible, through Canvas.

Published on 11/11/2022 01:37 p.m.