Postgraduate Course: Economic and Policy Analysis for Offshore Renewables (IDCORE) (PGEE11088)
Course Outline
| School | School of Engineering |
College | College of Science and Engineering |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | The course addresses aspects of economic and policy analysis which are crucial for a comprehensive understanding of private and public attitudes and behaviour in relation to the offshore renewable sector. These topics include: energy and environmental objectives and appropriate financial and non-financial policies; private sector and financial analysis (e.g. NPV, IRR); levelised costs; an understanding of electricity markets in theory and practice; and an analysis of the links between offshore renewable policies and national and regional economic, environmental and social objectives |
| Course description |
Offshore energy and energy objectives: the energy trilemma
Private financial analysis of offshore energy: LCOE, NPV and IRR
Offshore energy promotion: economic policies and their impacts
Economics of the electricity industry and electricity markets
Non-financial barriers and policies
Innovation and learning in offshore energy
Offshore energy: economic impacts, skills and the energy transition
Invited talks from policymakers and industry
Group presentations, attended by all teaching team
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
| Additional Costs | None |
Course Delivery Information
|
| Academic year 2024/25, Not available to visiting students (SS1)
|
Quota: None |
| Course Start |
Full Year |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Lecture Hours 18,
Seminar/Tutorial Hours 8,
Feedback/Feedforward Hours 8,
Other Study Hours 64,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
0 )
|
| Additional Information (Learning and Teaching) |
Self study
|
| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
100% Coursework |
| Feedback |
Students will complete class feedback at the end of the class, in line with University practice. Lecturers will encourage discussion in the class, which will provide opportunities for two-way feedback throughout module. In addition, feedback on submitted material will be provided during class to students, enabling checking of students' understanding. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Understand of the goals, levers, constraints, analysis and decision processes relevant to energy policy and how these impact on offshore renewables. 2. Appreciation of the principles of investment appraisal and ability to apply methods to examples of offshore renewable projects. 3. Ability to compute the levelised costs of alternative technologies, and to interpret the results and their sensitivity to disturbances (including changes in policy). 4. Ability to apply and interpret portfolio analysis in the context of Scottish/ UK electricity generating technologies. 5. Understand the principles of cost benefit analysis and be able apply them to offshore renewable initiatives. 6. Ability to provide a critical appraisal of the main methods available to calculate the level of "green jobs" in any economy, and to be able to explore this using input-output and computable general equilibrium modelling frameworks. 7. Appreciation of the impact of renewables on consumption- and production-oriented indicators of greenhouse gas emissions.
- Understand how macro- and micro- economic assessments are undertaken, how economic metrics(LCOE, NPR, IRR, etc) are calculated
- Understand the principles of cost benefit analysis and to apply them to offshore renewable initiatives
- Demonstrate a critical awareness of the role of public and private actors in driving innovation in marine energy
|
Reading List
| Bhattacharyya, S.C. (2011) Energy Economics: Concepts, Issues, Markets and Governance, Springer. |
Additional Information
| Graduate Attributes and Skills |
Not entered |
| Special Arrangements |
none |
| Keywords | Economics,policy,analysis,modelling,cost,benefit,financial |
Contacts
| Course organiser | Prof David Ingram
Tel: (0131 6)51 9022
Email: David.Ingram@ed.ac.uk |
Course secretary | Dr Katrina Tait
Tel: (0131 6)51 9023
Email: k.tait@ed.ac.uk |
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