Economics of Mineral & Energy Industries (RSEC5433)
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
(2 lec, 1 tut)/wk
excursion attendance and report (25%); one (1 hr.) mid-term exam (30%) and one (2 hr.); two hour (2 hr.) final exam (45%)
T. J. Brennan, L. K. Palmer, and A. S. Martinez, Alternating Currents: Electricity Markets and Public Policy, Resources for the Future Press, Washington D.C., 2002. J. E. Tilton, On Borrowed Time? Assessing the Threat of Mineral Depletion, Resources for
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