This course is an energy and oil economics course not a general energy policy course. It will cover a variety of theoretical and empirical topics related to energy and oil demand, energy and oil supply, energy and oil prices, environmental consequences of energy and oil consumption and production, and various public policies affecting energy and oil demand, supply, prices, and environmental effects. In this course, a effort will be made to discuss the issues within the 3-E framework (Energy-Economy-Environment) using the tools of economic analysis.

After completing this course, the student will be able to:

1. Demonstrate a critical understanding of the subject.
2. Analyze Energy Economics as a unique filed of economics and related economic policies.
3. Analyze the Market Failure and nature of Public goods
4. Evaluate theoretical aspects of the subject and its relation with the its practical state.
5. Compare Economics of Energy and other branches of Economics
6. Measure the strength and weaknesses of the major development in the economics of energy and oil.

1. Introduction and Background
2. Review of the Basics of Supply, Demand and Price Formation in Competitive Markets
3. Energy Demand: Short Run and Long Run Price and Income Elasticities
4. Energy Supply and the Economics of Depletable Resources
5. World Oil Markets and Energy Security
6. Natural Gas Price Regulation, Deregulation and Markets
7. Electricity
8. Risk Management, Futures Markets and Derivatives
9. Energy and Climate Change
10. Internalizing Environmental Externalities with a Focus on CO2 Emissions Cap and Trade Mechanisms
11. Coal
12. Nuclear Power
13. Energy Efficiency Policies
14. Renewable Energy Policies
15. Special Topics:
    1. • Curbing pollution: How far and how fast?
    2. • Green Paradox: Can environmental policy lead to more pollution?

• Peter Schwarz (2017) Energy Economics,Oxfordshire, UK: Routledge.
• Ferdinand E Banks (2015), Energy and Economic Theory, Singapore: World Scientific.

• Pindyck, R., and D. Rubinfeld (2017) . Microeconomics. 6^th Edition. NJ, USA: Prentice Hall.
• Thomas Homer-Dixon and Nick Garrison (2009) Carbon shift: how the twin crises of oil depletion and climate change will define the future, (ed.), Toronto, Canada: Random House.