ESE2304 Energy EconomicsBahçeşehir UniversityDegree Programs ENERGY SYSTEMS ENGINEERINGGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
ENERGY SYSTEMS ENGINEERING
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

Course Introduction and Application Information

Course Code Course Name Semester Theoretical Practical Credit ECTS
ESE2304 Energy Economics Spring 2 0 2 3

Basic information

Language of instruction: English
Type of course: Must Course
Course Level: Bachelor’s Degree (First Cycle)
Mode of Delivery: Face to face
Course Coordinator : Dr. Öğr. Üyesi ÖZCAN HÜSEYİN GÜNHAN
Course Objectives: To get basic knowledge about scarce resource energy and its economics. Parallel to this, to give basics of how time and interest affect money and effects of inflation. To learn basic economic analysis methods and to understand how energy fuels are considered in these analyses. To assess energy markets respect to electricity and fuels.

Learning Outcomes

The students who have succeeded in this course;
1. Have the ability to evaluate basic economic principles, namely the time value of money, payments, and interest rates.
2. Have the ability to conduct investment assessment methods, namely present worth, annual worth, rate of return and benefit/cost.
3. Have the ability to consider inflation effect on investment assessment methods.
4. Have the ability to analyze supply side of energy considering nonrenewable and renewable energy resources with economic point of wiev.
5. Have the ability to knowledge of energy markets in terms of electricity and fuels

Course Content

It covers the fundamentals of engineering economics (time value of money, inflation, interest rates), major economic evaluation methods (present worth, annual worth, rate of return, benefit/cost), economics of renewable/non-renewable fuels, and energy market issues.

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Introduction and Basic Concepts
2) Time Value of Money, Interest Rates
3) Time Value of Money, Interest Rates
4) Time Value of Money, Interest Rates
5) Economic Assessment Methods
6) Economic Assessment Methods
7) Midterm
8) Economic Assessment Methods
9) Economic Assessment Methods
10) Effects of Inflation
11) Economics of Energy Supply : Non Renewable Energy Resources
12) Economics of Energy Supply : Renewable Energy Resources
13) Introduction to Energy Markets: Electricity
14) Introduction to Energy Markets: Fuels

Sources

Course Notes / Textbooks: Ders sunumları - Course Presentations
References: 1) Basics of Engineering Economy, Leland Blank and Anthony Tarquin, McGraw Hill, 2020.
Additional Text Book(s):
1) Energy Economics: Concepts, Issues, Markets and Governance, Subhes C. Bhattacharrya, Springer International Publishing AG, 2011.
2) Energy Economics: Theory and Applications, Peter Zweifel, Aaron Praktiknjo, Georg Erdmann, Springer International Publishing AG, 2017

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Quizzes 2 % 20
Midterms 1 % 30
Final 1 % 50
Total % 100
PERCENTAGE OF SEMESTER WORK % 50
PERCENTAGE OF FINAL WORK % 50
Total % 100

ECTS / Workload Table

Activities Number of Activities Duration (Hours) Workload
Course Hours 14 2 28
Study Hours Out of Class 14 2 28
Quizzes 2 1 2
Midterms 1 2 2
Final 1 2 2
Total Workload 62

Contribution of Learning Outcomes to Programme Outcomes

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Build up a body of knowledge in mathematics, science and Energy Systems Engineering subjects; use theoretical and applied information in these areas to model and solve complex engineering problems. 5
2) Ability to identify, formulate, and solve complex Energy Systems Engineering problems; select and apply proper modeling and analysis methods for this purpose. 5
3) Ability to design complex Energy systems, processes, devices or products under realistic constraints and conditions, in such a way as to meet the desired result; apply modern design methods for this purpose. 4
4) Ability to devise, select, and use modern techniques and tools needed for solving complex problems in Energy Systems Engineering practice; employ information technologies effectively. 2
5) Ability to design and conduct numerical or pysical experiments, collect data, analyze and interpret results for investigating the complex problems specific to Energy Systems Engineering. 2
6) Ability to cooperate efficiently in intra-disciplinary and multi-disciplinary teams; and show self-reliance when working on Energy Systems-related problems 2
7) Ability to communicate effectively in English and Turkish (if he/she is a Turkish citizen), both orally and in writing. Write and understand reports, prepare design and production reports, deliver effective presentations, give and receive clear and understandable instructions. 3
8) Recognize the need for life-long learning; show ability to access information, to follow developments in science and technology, and to continuously educate oneself. 2
9) Develop an awareness of professional and ethical responsibility, and behave accordingly. Be informed about the standards used in Energy Systems Engineering applications. 2
10) Learn about business life practices such as project management, risk management, and change management; develop an awareness of entrepreneurship, innovation, and sustainable development. 3
11) Acquire knowledge about the effects of practices of Energys Systems Engineering on health, environment, security in universal and social scope, and the contemporary problems of Energys Systems engineering; is aware of the legal consequences of Energys Systems engineering solutions. 3