Optimization of energy system (ECON958_SOLEM )

• Semester 9
• Duration :  Within one semester  
• Type: Mandatory

• Student workload:  Lecture (CM): 12 hours, Tutorials (TD): 9 hours 

• Applicability: SOLEM course only 

•  Teaching and learning method : seminar, case studies, discussion 

• Module examination:  1 written exam (100%)

Responsible person for the module: Pierre OUEDRAOGO, Doctoral researcher at French Environment and Energy Management Agency (ADEME), IREGE laboratory, IAE, USMB

Ph.D in economics - Research fields: Circular Economy, Repair, Reuse, Recycling, Life Cycle Assessment, Public Policies, Electrical and Electronic Equipment

Thesis: Levers of the circular economy : are they complementary?  Personal Website

Major intended learning outcomes:

Upon completion of the module students will:

• understand how a firm makes cost-minimizing decisions and how its cost varies with its output. 
• have learnt how a competitive firm chooses its output in short and long term. 
• be able to apply the theory of microeconomics in energy system. 
• understand and identify the main differences between the different markets form.  
• have learnt how oligopolistic firms decide on output and prices. 
• understand why Cartels rises and what successful cartelization require? 
• be able to make analysis of cartel pricing 

Admission to 2nd semester  

Content of the module:

• Introduction: General context and course outline  
• Chapter 1: The Theory of the Firm 
• Chapter 2: The Firm in Perfectly Competition Market 
• Chapter 3: Market Power: Monopoly and Monopsony 
• Chapter 4: Monopolistic competition and Oligopoly  
• Chapter 5: The Cartels 

Textbooks:  

• Roberts S. Pindyck and Daniel L. Rubinfeld «Microeconomics» – 8th edition (The Peason series in economics) 
• Jean-Pierre Hansen, Jacques Percebois « Energie : Economie et Politiques » 3ième édition (deboeck) 

Websites:  

• https://www.bbc.com/news/business-61188579 
• https://www.francetvinfo.fr/monde/environnement/cop/cop28-les-pays-exportateurs-de-petrole-realisent-qu-ils-perdent-le-controle-analyse-un-participant-apres-la-lettre-de-l-opep-contre-un-accord-sur-la-sortie-des-energies-fossiles_6233085.html 
• https://www.geo.fr/geopolitique/quest-ce-que-lopep-organisation-des-pays-exportateurs-de-petrole-214045