ID:
510195
Durata (ore):
44
CFU:
6
SSD:
ECONOMIA E GESTIONE DELLE IMPRESE
Anno:
2025
Dati Generali
Periodo di attività
Primo Semestre (22/09/2025 - 19/12/2025)
Syllabus
Obiettivi Formativi
Overall aim of the course is to provide students with a comprehensive overview of how the energy industry in modern economies is organized and the way it is impacted by energy and climate policies, with particular reference to the case of the European Union and its Green Deal.
The course aims to offer not only theoretical classes, where the basics of energy economics and policy are presented by the instructor, but also insights from people working in the sector. To ensure this objective, a few seminars with external speakers will be organised in the final weeks of the course.
At the end of the course, students are expected to have a good understanding of how energy markets work, and how the choices of policymakers and regulators influence their functioning and evolution. Students will be able to critically analyse the most relevant trends occurring in the energy industry and discuss the implications and challenges posed by technological development, changes in consumer preferences, and public policies and regulation, including the policy goal of achieving net-zero greenhouse gas emissions.
The course aims to offer not only theoretical classes, where the basics of energy economics and policy are presented by the instructor, but also insights from people working in the sector. To ensure this objective, a few seminars with external speakers will be organised in the final weeks of the course.
At the end of the course, students are expected to have a good understanding of how energy markets work, and how the choices of policymakers and regulators influence their functioning and evolution. Students will be able to critically analyse the most relevant trends occurring in the energy industry and discuss the implications and challenges posed by technological development, changes in consumer preferences, and public policies and regulation, including the policy goal of achieving net-zero greenhouse gas emissions.
Prerequisiti
There is no formal pre-requisite to the course. However, a general understanding of standard microeconomics is important for an effective participation to the course. Some notions of industrial organization (e.g., regulation of monopoly markets) represent an asset. Equally useful is the mastering of basic physical concepts (e.g., those usually taught in high school), as it allows students to more easily grasp the functioning of energy systems and the consequent economic and policy implications that will be investigated during the course.
Metodi didattici
Twenty-two classes are held in English by the instructor, with the occasional participation of expert guests. Participation in the classes of the course is highly recommended but not mandatory. Interactions during the classes will be encouraged. Towards the end of the course, the instructor will organise some ‘mock exams’, offering students the possibility to test their knowledge.
Verifica Apprendimento
The exam is composed of a written and an oral part. The written part is based on a series of multiple-choice and open questions on the content of the course. Students are expected to complete the written part in a maximum of two hours. The oral part will start with a review of the written part and then offer the possibility to the student to briefly present a topic of their choice. A few follow-up questions will close the oral part. Depending on the presentation and the answers to the oral questions, the result obtained in the written part will remain the same or improve.
Testi
The PowerPoint presentations prepared by the instructor represent the primary material for the course. However, given their nature, they are sufficient to prepare for the exam. In addition to the slides, students must carefully read the introductory volume by Simone Tagliapietra (2020), Global Energy Fundamentals, Cambridge University Press, a copy of which is also available at the department library. The instructor will also suggest, for each class, one or more additional book chapters in English. Students will find the precise references to these chapters at the end of each PowerPoint presentation. These chapters are part of the course materials, and their reading is essential, in particular for those students who aim to go beyond mere sufficiency.
Contenuti
The course is articulated in four main parts. The first part introduces the concepts of energy, energy sources, energy balance and energy triangle. The goals of energy policy are then discussed: cost-competitiveness, security of supply, and environmental sustainability. An overview of the main characteristics of energy demand is presented, with a specific focus on final uses and the notions of energy efficiency, energy savings and energy intensity. The issues of energy poverty and access to modern energy will also be considered before turning to the environmental dimension of energy and the policy tools that can be implemented to address the externalities of energy production and consumption (carbon pricing, environmental standards, transparency requirements, and subsidies). The second part of the course explores the supply chain of fossil fuels (coal, oil and natural gas) and the markets where they are traded, especially at the international level. The main techno-economic characteristics of these fuels are presented. A special focus is devoted to the specific features of the exploration and production activities (mining risks), and of the transport of these fuels up to consumption centres. The evolution of the way in which the industry is organised and the main trading arrangements (e.g., long-term contracts and bilateral monopoly) are then analysed, using those features as explanatory variables. The third part of the course sheds light on the electricity industry. The peculiar characteristics of this energy vector are introduced, highlighting the implications for the industry. An illustration of the various generation technologies follows (fossil-fired, nuclear, and renewable power plants) together with the analytical presentation of the way in which the optimal price of electricity and the optimal generation fleet can be calculated. These optimal solutions are then compared with the functioning of liberalised (wholesale) markets. The importance and heterogeneity of market designs for electricity are mentioned. The role of electricity networks is then discussed, paving the way to the analysis of their regulation. Issues such as third-party access, unbundling, incentive regulation and tariff design are presented. Most of the concepts presented in this part can also be applied, mutatis mutandis, to the gas sector. The fourth part of the course narrows down the focus by looking at the European Union, the structure of its energy system, and the evolution of its policies on energy and climate, up to its most recent flagship initiatives, the Green Deal and the Clean Industrial Deal. The aim here is to illustrate the challenges associated with the integration of energy markets at the continental level and the convergence of energy policy, traditionally considered as one of the most sensitive competencies of national governments. The important achievements of the EU will be credited, together with an understanding of the inconsistencies and roadblocks that still exist.
Lingua Insegnamento
INGLESE
Corsi
Corsi
ECONOMICS, DEVELOPMENT AND INNOVATION
Laurea Magistrale
2 anni
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Persone
Persone
Docente
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