Energy Markets and Policy

This is a course on how energy and environmental markets work, and the regulatory mechanisms that have been and can be used to achieve desired policy goals. Throughout the course students play the roles of electricity generators, electricity retailers, energy traders, and electricity consumers in order to gain an understanding of how energy and environmental policies (including environmental regulations and renewable energy mandates) affect the business strategy of market participants - and in turn economic and environmental outcomes. The goal of the course is to provide students with both theoretical and hands-on understanding of important energy and environmental market concepts that are critical to market functioning but not always widely appreciated. The course is useful background for private sector roles in energy production, research, management, trading, investment, and government and regulatory affairs; government positions in policymaking and regulation; research and policy functions in academia, think tanks, or consultancies; and non-profit advocacy roles related to energy and the environment. Econ 1 recommended.