Economics of Mineral & Energy Industries (RSEC4133)

UNIT OF STUDY

The unit provides theoretical and empirical background on the economics of minerals exploration, extraction and marketing and on the economics of energy generation, distribution and use. The economics of minerals and energy commodity markets will be discussed and analysed. The interactions of mineral extraction and energy generation activities with other natural resources and the environment will be of particular interest (e.g. mine site remediation, land use conflicts). Sustainability and prospects for long term efficient use of these resources, as well as the development and use of alternative technologies will also be discussed. In addition, institutional and policy issues (e.g. regulatory reform), will be analysed. The unit will discuss the main aspects of the markets for minerals and energy, market structure, business environment and price movements. The unit will also provide an introductory discussion on the markets for derivatives (options, futures, forward, swaps) on minerals and energy commodities.

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Further unit of study information

Classes

2x1-hr lectures/week commencing week 1, 1x1-hr tutorial/week commencing week 2

Assessment

Excursion attendance and report (25%); 1x1hr mid-term exam (30%) and 1x2 hr final exam (45%)

Textbooks

Brennan, T.J., Palmer, L.K. and Martinez, A.S., Alternating Currents: Electricity Markets and Public Policy, Resources for the Future Press, Washington D.C., 2002. Tilton, J.E., On Borrowed Time? Assessing the Threat of Mineral Depletion, Resources for th

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

(ECON2001 or ECOS2001) and (AGEC2103 or AGEC2003)

Assumed knowledge: (ECON2002 or ECOS2002), AGEC3001, AGEC2101, AGEC2105

Prohibitions

ECON3013

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If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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