Courses Summer Term 2020

***The following lectures take place this summer semester under precoautionary measures in line with the university's corona virus strategy. Information on lecture and seminar formats is accessible upon course registration.***

Lectures

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics. This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

Stochastic Optimization (Stochastische Optimierung)

The course gives an introduction to the topic of stochastic optimization. Students will learn about the underlying concepts and the theory of stochastic optimization as well as algorithmic solution techniques. The theory will be complemented by numerous illustrative classical stochastic optimization examples such as the newsvendor problem and examples from the field of energy markets. The lectures are complemented by a lab, which gives students the possibility to deepen their understanding of the theory and try out algorithms and techniques presented in the lecture. The topics that will be covered are:

  • Introduction & Basic Modelling
  • Two-stage Linear Stochastic Optimization Models and their deterministic equivalents
  • The L-Shaped Method for Two-Stage Stochastic Optimization
  • Monte-Carlo Methods
  • Multi-Stage Stochastic Optimization

International Trade II

The lectures review the advances in international trade theory, models to understand and analyze international trade policies and its implications. Special attention will be given to the behavior and impact of trade on multinational firms international, international trade wars, link between trade and endogenous growth. The course develops analytical instruments required to understand and analyze empirical evidence and real-world problems.

Network Economics II

The lectures review fundamentals concepts (discussed in Network Economics I) and discuss various network-formation games, models describing strategic interactions in networks with externalities, models on international networks and markets. Special attention will be given to correspondence of real-world networks to theoretical frameworks for analysis of efficiency, optimality, and evolution.

Energy Trading

In the course of this module, students gain deep insights into the value chain of energy trading. Thereto, the module covers the following topics: development of european and global energy markets; energy markets as fundament for risk management; risk management of company portfolios from the perspective of energy producers, consumers and traders; grid-bound energy sources electricity and gas supplemented by references on coal, crude oil and emission certificates.

Challenges in Energy Markets (formerly I and II)

After completion, students are able to analyze the fundamental changes taking place in the worldwide energy markets, the specific challenges, and the competitive environment. Further, they are able to outline how large-scale power plant projects are planned and successfully executed. They can also compare various financing models for the different types of power plants. Furthermore, they can analyze the importance of supply chain management for manufactures of various power technologies. Moreover, they can differentiate between various methods for implementing innovations. Finally, they are able to apply theoretical concepts to energy markets and manufacturers of energy technologies.

Please note that this is a new lecture, merging and replacing former lectures Challenges in Energy Markets I and Challenges in Energy Market II.

Seminars

Advanced Seminar: Electricity Market Economics

The aim of this seminar is to deepen knowledge of electricity markets and to enhance the ability to conduct sound and independent economic research in the area of power markets. To fulfil these goals, students have to implement a well-structured research agenda and prove their ability to present their findings both in written form and during the final presentation.

Master Thesis Research Seminar: Future of Automobile Industry

Upon successful completion of the course, students will be equipped to perform research needed to complete their master thesis requirements. The seminars will review and discuss the concepts of supply chain, decision making under uncertainty, externalities, domestic and international competitiveness, energy transition, carbon neutrality, e-mobility, smart city.

Courses Winter Term 2019/20

Lectures

Energy Markets I

In the course of this module, students gain an economic overview on the supply chain of energy companies and energy markets. Thereto, the module covers the following topics: supply chain of energy companies (from energy generation over transportation and trading to distribution); supply, demand and price determination on electricity markets; end products electricity and heat; climate change; energy transition to renewable energies; investment analysis of energy projects; real options; comparative statics on energy markets.

Energy Economics

This course discusses both theoretically and empirically the industrial economics and regulation of energy markets. It examines the fundamentals of primary energy markets for coal, gas and oil, foundations of electricity markets, price regulation, regulation of networks, policies to promote security of supply and policies to control emissions. A focal point of this course lies on electricity markets and their theoretical description and empirical analysis.

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics. This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

Challenges in Energy Markets (formerly I and II)

Following the lectures, students should be familiar with the fundamental changes taking place in the worldwide energy markets, and the specific challenges facing these markets. Students gain insights into the competitive environment and they learn how large-scale power plant projects are planned and successfully executed. They also understand that there are various financing models for the different types of power plants.

Please note that this is a new lecture, merging and replacing former lectures Challenges in Energy Markets I and Challenges in Energy Market II.

Industry Technologies

After successful participation in the module, students possess a broad basic knowledge regarding the economic specifications of industry markets with focus on additive manufacturing. Furthermore, students are able to solve industry related problems self-reliantly using both, mathematical techniques as well as attained economic intuition. Participants are moreover able to transfer economic principles on the special demands new technologies.

Seminars

Advanced Seminar: Electricity Market Economics

The aim of this seminar is to deepen knowledge of electricity markets and to enhance the ability to conduct sound and independent economic research in the area of power markets. To fulfil these goals, students have to implement a well-structured research agenda and prove their ability to present their findings both in written form and during the final presentation.

Advanced Topics in Energy Trading

In the course of the lecture and the exercises, students gain deep insights into the value chain of energy trading. Based on the ongoing development of European and global energy markets, it is illustrated how energy markets provide, both theoretically and practically, the fundamental for risk management of company portfolios from the perspective of energy produces, consumers and traders. A particular focus is on the grid-bound energy sources electricity and gas, but the lecture is further supplemented by references to coal, crude oil and emission certificates. On top, there is an excursion to the SWM trading floor.

Courses Summer Term 2019

Lectures

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics. This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

Industry Technologies

After successful participation in the module, students possess a broad basic knowledge regarding the economic specifications of industry markets with focus on additive manufacturing. Furthermore, students are able to solve industry related problems self-reliantly using both, mathematical techniques as well as attained economic intuition. Participants are moreover able to transfer economic principles on the special demands new technologies.

Challenges in Energy Markets I

Following the lectures, students should be familiar with the fundamental changes taking place in the worldwide energy markets, and the specific challenges facing these markets. Students gain insights into the competitive environment and they learn how large-scale power plant projects are planned and successfully executed. They also understand that there are various financing models for the different types of power plants.

Empirical Research in Energy Markets

This course aims at conveying some of the principles of empirical research as applied to energy markets data. In the first part of the course, the theoretical methods are introduced and explained based on practical examples. In the second part, students can apply their knowledge by solving exercises in small groups.

Courses Winter Term 2018/19

Lectures

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics. This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

Industry Technologies

After successful participation in the module, students possess a broad basic knowledge regarding the economic specifications of industry markets with focus on additive manufacturing. Furthermore, students are able to solve industry related problems self-reliantly using both, mathematical techniques as well as attained economic intuition. Participants are moreover able to transfer economic principles on the special demands new technologies.

Challenges in Energy Markets II

Following the lectures, students should be familiar with the fundamental changes taking place in the worldwide energy markets, and the specific challenges facing these markets. Students gain insights into the competitive environment and they learn how large-scale power plant projects are planned and successfully executed. They also understand that there are various financing models for the different types of power plants.

Energy Economics

This course discusses both theoretically and empirically the industrial economics and regulation of energy markets. It examines the fundamentals of primary energy markets for coal, gas and oil, foundations of electricity markets, price regulation, regulation of networks, policies to promote security of supply and policies to control emissions. A focal point of this course lies on electricity markets and their theoretical description and empirical analysis.

Energy & Climate Policy

In this BA course, students acquire knowledge on technical, political, and economical aspects of climate change and the associated challenges. They gain understanding on different technology options and regulatory strategies to mitigate climate change. After successful completion, students are able to discuss and apply theoretical methods to selected topics in economics and business. With these tools student will thus be able to analyze and assess recent energy market developments, such as for instance the energy transition. The course will be an intensive 3x2 days course, including guest lectures and case studies. Lecturers are Prof. David Wozabal and Prof. Sebastian Schwenen.

 

 

 

Seminars

Advanced Seminar: Electricity Market Economics

The aim of this seminar is to deepen knowledge of electricity markets and to enhance the ability to conduct sound and independent economic research in the area of power markets. To fulfil these goals, students have to implement a well-structured research agenda and prove their ability to present their findings both in written form and during the final presentation.

Advanced Topics in Energy Trading

In the course of the lecture and the exercises, students gain deep insights into the value chain of energy trading. Based on the ongoing development of European and global energy markets, it is illustrated how energy markets provide, both theoretically and practically, the fundamental for risk management of company portfolios from the perspective of energy produces, consumers and traders. A particular focus is on the grid-bound energy sources electricity and gas, but the lecture is further supplemented by references to coal, crude oil and emission certificates. On top, there is an excursion to the SWM trading floor.

 

 

Courses Summer Term 2018

Lectures

Stochastic Optimization

The course gives an introduction to the topic of stochastic optimization. Students will learn about the underlying concepts and the theory of stochastic optimization as well as algorithmic solution techniques. The theory will be complemented by numerous illustrative classical stochastic optimization examples such as the newsvendor problem and examples from the field of energy markets. The lectures are complemented by a lab, which gives students the possibility to deepen their understanding of the theory and try out algorithms and techniques presented in the lecture. The topics that will be covered are:

  • Introduction & Basic Modelling
  • Two-stage Linear Stochastic Optimization Models and their deterministic equivalents
  • The L-Shaped Method for Two-Stage Stochastic Optimization
  • Monte-Carlo Methods
  • Multi-Stage Stochastic Optimization

 

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics.

This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

 

Energy trading

In the course of the lecture and the exercises, students gain deep insights into the value chain of energy trading. Based on the ongoing development of European and global energy markets, it is illustrated how energy markets provide, both theoretically and practically, the fundament for risk management of company portfolios from the perspective of energy produces, consumers and traders. A particular focus is on the grid-bound energy sources electricity and gas, but the lecture is further supplemented by references to coal, crude oil and emission certificates. On top, there is an excursion to the SWM trading floor.

 

Challenges in Energy Markets

This lecture focuses on the topic of energy in the 21st Century – global market developments and strategic success factors as seen by a manufacturer of energy technologies. The first part of this two-part lecture presents the expectations for the energy market up to 2030 and the mix of power generation technologies. The current changes taking place in energy markets vary from region to region and depend on the respective approaches in developing and expanding of an economical, sustainable and secure energy system. The second part of the lecture deals with global competition, features of the various business models and their strategic implications for suppliers of energy technologies. The views presented in the two lectures are based on the portfolio, worldwide set-up and business strategy of Siemens Energy.

 

Energy Markets II

In the continuation of the lecture "Energy Markets I", this course comprises more fundamental concepts of energy markets. During the lecture the following topics will be covered: finishing renewables, introducing energy trading and energy grids/networks. In the exercises, students will have an opportunity to test their theoretical knowledge in a realistic energy market setting.

Courses Winter Term 2017/2018

Lectures:

Energy & Climate Policy

In this BA course, students acquire knowledge on technical, political, and economical aspects of climate change and the associated challenges. They gain understanding on different technology options and regulatory strategies to mitigate climate change. After successful completion, students are able to discuss and apply theoretical methods to selected topics in economics and business. With these tools student will thus be able to analyze and assess recent energy market developments, such as for instance the energy transition. The course will be an intensive 3x2 days course, including guest lectures and case studies. Lecturers are Prof. David Wozabal and Prof. Sebastian Schwenen. Please register via TUMOnline.

 

Topics in Energy Trading (previously Derivatives II)

The course is a continuation of the course Derivatives in the summer semester and gives an introduction to derivatives in energy markets. The goal is to discuss the specific challenges in pricing, hedging, and risk management connected with trading on energy markets. The content includes material on forward and futures trading, specification and estimation of models for price dynamics, pricing of derivative instruments, and risk management techniques. To facilitate a better understanding of the subject the course is divided into lectures and work on case studies. In the lecture parts theory is presented which will then subsequently applied in three case studies. Students work on the case studies in groups, hand in short a write-up of their work, and present their results in the class. 

 

Energy Markets I

In the course of this module, students gain an economic overview on the supply chain of energy companies and energy markets. Thereto, the module covers the following topics: supply chain of energy companies (from energy generation over transportation and trading to distribution); supply, demand and price determination on electricity markets; end products electricity and heat; climate change; energy transition to renewable energies; investment analysis of energy projects; real options; comparative statics on energy markets.

 

Energy Economics

This course discusses both theoretically and empirically the industrial economics and regulation of energy markets. It examines the fundamentals of primary energy markets for coal, gas and oil, foundations of electricity markets, price regulation, regulation of networks, policies to promote security of supply and policies to control emissions. A focal point of this course lies on electricity markets and their theoretical description and empirical analysis.

 

Empirical Research in Energy Markets

This seminar aims at conveying some of the principles of empirical research as applied to energy markets data. In the first part of the course, the theoretical methods are introduced and explained based on practical examples. In the second part, students can apply their knowledge by solving exercises in small groups. 

 

Courses Summer Term 2017

Lectures

Stochastic Optimization

The course gives an introduction to the topic of stochastic optimization. Students will learn about the underlying concepts and the theory of stochastic optimization as well as algorithmic solution techniques. The theory will be complemented by numerous illustrative classical stochastic optimization examples such as the newsvendor problem and examples from the field of energy markets. The lectures are complemented by a lab, which gives students the possibility to deepen their understanding of the theory and try out algorithms and techniques presented in the lecture. The topics that will be covered are:

  • Introduction & Basic Modelling
  • Two-stage Linear Stochastic Optimization Models and their deterministic equivalents
  • The L-Shaped Method for Two-Stage Stochastic Optimization
  • Monte-Carlo Methods
  • Multi-Stage Stochastic Optimization

 

Modelling and Optimization in Energy Markets

The course is an introduction to modeling and optimization in the energy markets. During this course, students will learn how to use Matlab and solve some optimization problems using this tool. Furthermore they will have the opportunity to understand optimization theory and the basics of financial mathematics used in the energy markets. Additionally, some applications will be presented and analyzed, while giving an overview of possible future research topics.

This course comes as a lead-in for the course Topics in Energy Trading, but it is also recommended to students willing to write a Master's Thesis at the Center for Energy Markets.

 

Empirical Research in Energy Markets

The course aims at conveying some of the principles of empirical research as applied to energy markets data. In the first part of the course, the theoretical methods are introduced and explained based on practical examples. In the second part, students can apply their knowledge by solving exercises in small groups.

This course is recommended for students willing to write a quantitative Master's Thesis at the Center for Energy Markets. 

 

Energy trading

In the course of the lecture and the exercises, students gain deep insights into the value chain of energy trading. Based on the ongoing development of European and global energy markets, it is illustrated how energy markets provide, both theoretically and practically, the fundament for risk management of company portfolios from the perspective of energy produces, consumers and traders. A particular focus is on the grid-bound energy sources electricity and gas, but the lecture is further supplemented by references to coal, crude oil and emission certificates. On top, there is an excursion to the SWM trading floor.

 

Challenges in Energy Markets I

This lecture focuses on the topic of energy in the 21st Century – global market developments and strategic success factors as seen by a manufacturer of energy technologies. The first part of this two-part lecture presents the expectations for the energy market up to 2030 and the mix of power generation technologies. The current changes taking place in energy markets vary from region to region and depend on the respective approaches in developing and expanding of an economical, sustainable and secure energy system. The second part of the lecture deals with global competition, features of the various business models and their strategic implications for suppliers of energy technologies. The views presented in the two lectures are based on the portfolio, worldwide set-up and business strategy of Siemens Energy.

 

Energy Markets II

In the continuation of the lecture "Energy Markets I", this course comprises more fundamental concepts of energy markets. During the lecture the following topics will be covered: finishing renewables, introducing energy trading and energy grids/networks. In the exercises, students will have an opportunity to test their theoretical knowledge in a realistic energy market setting.

 

Seminars

Energy Markets

The seminar focuses on current topics in energy markets and covers policy issues, the commercial viability of new technologies, as well as the environmental aspects of energy markets. Students work in pairs and are provided with recent journal papers. Correspondingly, the goal is to train the ability to understand and reflect on the academic discourse in a specific area or on a specific question. Students present their findings in the class and compile a term paper on their topic.

 

Electricity Market Economics

Enrolled students work on selected topics in the economics of electricity markets. The aim of this seminar is to deepen knowledge of electricity markets and to enhance the ability to conduct sound and independent economic research in the area of power markets. To fulfil these goals, students have to implement a well-structured research agenda and prove their ability to present their findings both within a seminar paper and during the final presentation. Successful participation and grading depends on the written seminar paper. The final grade can be improved upon by i) an initial work-in-progress presentation, and ii) a final presentation. Students may work alone or in teams of two.

 

 


Courses Winter Term 2016/2017

Lectures:

Topics in Energy Trading (previously Derivatives II)

The course is a continuation of the course Derivatives in the summer semester and gives an introduction to derivatives in energy markets. The goal is to discuss the specific challenges in pricing, hedging, and risk management connected with trading on energy markets. The content includes material on forward and futures trading, specification and estimation of models for price dynamics, pricing of derivative instruments, and risk management techniques. To facilitate a better understanding of the subject the course is divided into lectures and work on case studies. In the lecture parts theory is presented which will then subsequently applied in three case studies. Students work on the case studies in groups, hand in short a write-up of their work, and present their results in the class. 

 

Challenges in Energy Markets II

In the course of this module, students gain an overview of global power plant projects in a changing energy market. The lecture covers the following topics: general expectations for the energy market up to 2030; mix of power generation technologies; execution of energy projects into themes of project management; case studies for individual stages of project execution, challenges and project risks; financing models of energy projects; supply chain management - exemplified by various power plant technologies; methods to implement innovation.

 

Energy Markets I

In the course of this module, students gain an economic overview on the supply chain of energy companies and energy markets. Thereto, the module covers the following topics: supply chain of energy companies (from energy generation over transportation and trading to distribution); supply, demand and price determination on electricity markets; end products electricity and heat; climate change; energy transition to renewable energies; investment analysis of energy projects; real options; comparative statics on energy markets.

 

Energy Economics

This course discusses both theoretically and empirically the industrial economics and regulation of energy markets. It examines the fundamentals of primary energy markets for coal, gas and oil, foundations of electricity markets, price regulation, regulation of networks, policies to promote security of supply and policies to control emissions. A focal point of this course lies on electricity markets and their theoretical description and empirical analysis.

 

Empirical Research in Energy Markets

This seminar aims at conveying some of the principles of empirical research as applied to energy markets data. In the first part of the course, the theoretical methods are introduced and explained based on practical examples. In the second part, students can apply their knowledge by solving exercises in small groups. 

 


Courses Summer Term 2016

Lectures:

Stochastic Optimization

The course gives an introduction to the topic of stochastic optimization. Students will learn about the underlying concepts and the theory of stochastic optimization as well as algorithmic solution techniques. The theory will be complemented by numerous illustrative classical stochastic optimization examples such as the newsvendor problem and examples from the field of energy markets. The lectures are complemented by a lab, which gives students the possibility to deepen their understanding of the theory and try out algorithms and techniques presented in the lecture. The topics that will be covered are: ˆ

  • Introduction & Basic Modelling ˆ
  • Two-stage Linear Stochastic Optimization Models and their deterministic equivalents ˆ
  • The L-Shaped Method for Two-Stage Stochastic Optimization ˆ
  • Monte-Carlo Methods ˆ
  • Multi-Stage Stochastic Optimization ˆ
  • Risk Measures in Stochastic Optimization

 

Challenges in Energy Markets

This lecture focuses on the topic of energy in the 21st Century – global market developments and strategic success factors as seen by a manufacturer of energy technologies. The first part of this two-part lecture presents the expectations for the energy market up to 2030 and the mix of power generation technologies. The current changes taking place in energy markets vary from region to region and depend on the respective approaches in developing and expanding of an economical, sustainable and secure energy system. The second part of the lecture deals with global competition, features of the various business models and their strategic implications for suppliers of energy technologies. The views presented in the two lectures are based on the portfolio, worldwide set-up and business strategy of Siemens Energy.


Energy trading

In the course of this lecture, students gain deep insights into the value chain of energy trading. Based on the ongoing development of European and global energy markets, it is illustrated how energy markets provide, both theoretically and practically, the fundament for risk management of company portfolios from the perspective of energy produces, consumers and traders. A particular focus is on the grid-bound energy sources electricity and gas, but the lecture is further supplemented by references to coal, crude oil and emission certificates. On top, there is an excursion to the SWM trading floor.

 

Energy Markets II

In the continuation of the lecture "Energy Markets I", this course comprises more fundamental concepts of energy markets. During the lecture the following topics will be covered: finishing renewables, introducing energy trading and energy grids/networks. In the exercies, students will have an opportunity to test the theoretical knowledge in a realistic energy market setting.

 

Seminar Energy Markets

The seminar focuses on current topics in energy markets and covers policy issues, the commercial viability of new technologies, as well as the environmental aspects of energy markets. Students work in pairs and are provided with recent journal papers. Correspondingly, the goal is to train the ability to understand and reflect on the academic discourse in a specific area or on a specific question. Students present their findings in the class and compile a term paper on their topic.

 

Seminar Electricity Market Economics

Enrolled students work on selected topics in the economics of electricity markets. The aim of this seminar is to deepen knowledge of electricity markets and to enhance the ability to conduct sound and independent economic research in the area of power markets. To fulfil these goals, students have to implement a well-structured research agenda and prove their ability to present their findings both within a seminar paper and during the final presentation. Successful participation and grading depends on the written seminar paper. The final grade can be improved upon by i) an initial work-in-progress presentation, and ii) a final presentation. Students may work alone or in teams of two.



Courses Winter Term 2015/2016

Lectures:

Challenges in Energy Markets II

In the course of this module, students gain an overview of global power plant projects in a changing energy market. The lecture covers the following topics: general expectations for the energy market up to 2030; mix of power generation technologies; execution of energy projects into themes of project management; case studies for individual stages of project execution, challenges and project risks; financing models of energy projects; supply chain management - exemplified by various power plant technologies; methods to implement innovation.

 

Industrial Economics and Regulation of Energy Markets

This course discusses both theoretically and empirically the industrial economics and regulation of energy markets. It examines the fundamentals of primary energy markets for coal, gas and oil, foundations of electricity markets, price regulation, regulation of networks, policies to promote security of supply and policies to control emissions. A focal point of this course lies on electricity markets and their theoretical description and empirical analysis.

 

Derivatives II - Applications in Energy Markets

The course is a continuation of the course Derivatives in the summer semester and gives an introduction to derivatives in energy markets. The goal is to discuss the specific challenges in pricing, hedging, and risk management connected with trading on energy markets. The content includes material on forward and futures trading, specification and estimation of models for price dynamics, pricing of derivative instruments, and risk management techniques.

To facilitate a better understanding of the subject the course is divided into lectures and work on case studies. In the lecture parts theory is presented which will then subsequently applied in three case studies. Students work on the case studies in groups, hand in short a write-up of their work, and present their results in the class.

 

Energy Markets I

In the course of this module, students gain an economic overview on the supply chain of energy companies and energy markets. Thereto, the module covers the following topics: supply chain of energy companies (from energy generation over transportation and trading to distribution); supply, demand and price determination on electricity markets; end products electricity and heat; climate change; energy transition to renewable energies; investment analysis of energy projects; real options; comparative statistics on energy markets.

Evaluation of the lecture.

 

Courses at the Institute for Renewable and Sustainable Energy Systems:

Lecture Series - Renewable Energy Systems in Developing Countries

Interdisciplinary Project Internship - Concept Development of a Renewable Energy System in a Developing Country

Mathematical Modeling for Expansion and Dispatch Planning in Modern Energy Systems

Urban Energy Systems and Modern Infrastructure for Cities

 

Courses Summer Term 2015

Lectures:

Challenges in Energy Markets
Diese Vorlesung handelt von den Herausforderungen, denen die Energiewirtschaft in den kommenden Jahren ausgesetzt ist. Dabei wird sowohl auf die Energiewende in Deutschland als auch in anderen Ländern eingegangen, als auch auf die Anbieter von Energietechnik.

Energy Trading
Diese Vorlesung vertieft die Wertschöpfungsstufe Energiehandel. Es werden die Aufgaben des Energiehandels, die verschiedenen Handelsprodukte und Märktplätze behandelt sowie auf das Risikomanagement eingegangen.

Seminars:

Advanced Seminar in Finance and Accounting: Economics of Renewable Energies
In dem Seminar Economics of Renewable Energies werden Wirtschafts- und Managementaspekte von Erneuerbaren Energien in liberalisierten Energiemärkten  behandelt. Themen sind unter anderem Fördersysteme für Erneuerbare Energien, Auswirkungen des Ausbaus Erneuerbarer Energien auf den Strommarkt sowie Investitionsentscheidungen und Finanzierung von Erneuerbaren Energien. Kenntnisse aus der Vorlesung Energy Markets werden zur Teilnahme vorausgesetzt.


Courses Winter Term 2014/2015

Lectures:

Energy Trading
Diese Vorlesung vertieft die Wertschöpfungsstufe Energiehandel. Es werden die Aufgaben des Energiehandels, die verschiedenen Handelsprodukte und Märktplätze behandelt sowie auf das Risikomanagement eingegangen.

Challenges in Energy Markets II
Die Vorlesung behandelt die Herausforderungen, denen sowohl konventionelle als auch erneuerbare Kraftwerksprojekte weltweit unterliegen. Dabei wird der Schwerpunkt auf der Auswahl, Finanzierung und Umsetzung der Projekte liegen.

Derivatives II - Applications in Energy Markets
The course is a continuation of the course Derivatives in the summer semester and gives an introduction to derivatives in energy markets. The goal is to discuss the specific challenges in pricing, hedging, and risk management connected with trading on energy markets. The content includes material on forward and futures trading, specification and estimation of models for price dynamics, pricing of derivative instruments, and risk management techniques.

To facilitate a better understanding of the subject the course is divided into lectures and work on case studies. In the lecture parts theory is presented which will then subsequently applied in three case studies. Students work on the case studies in groups, hand in short a write-up of their work, and present their results in the class.

Seminars:

Advanced Seminar in Finance and Accounting: Economics of Renewable Energies
In dem Seminar Economics of Renewable Energies werden Wirtschafts- und Managementaspekte von Erneuerbaren Energien in liberalisierten Energiemärkten  behandelt. Themen sind unter anderem Fördersysteme für Erneuerbare Energien, Auswirkungen des Ausbaus Erneuerbarer Energien auf den Strommarkt sowie Investitionsentscheidungen und Finanzierung von Erneuerbaren Energien. Kenntnisse aus der Vorlesung Energy Markets werden zur Teilnahme vorausgesetzt.


Veranstaltungen im Sommersemester 2014

Vorlesungen:

Energy Markets
Diese Einführungsveranstaltung bietet überblicksartig eine wirtschaftswissenschaftliche Betrachtung der energiewirtschaftlichen Wertschöpfungsketten und der dazugehörigen Märkte. Dabei wird auf alle Stufen der Wertschöpfungsketten, Gewinnung/Erzeugung, Netze, Handel und Vertrieb eingegangen. Elektrizität und Wärme stehen als Endprodukte im Mittelpunkt. Das Thema wird insb. vor dem Hintergrund des Klimawandels und des Umstiegs auf erneuerbare Energien diskutiert.

Challenges in Energy Markets
Diese Vorlesung handelt von den Herausforderungen denen die Energiewirtschaft in den kommenden Jahren ausgesetzt ist. Dabei wird sowohl auf die Energiewende in Deutschland als auch in anderen Ländern eingegangen, als auch auf die Anbieter von Energietechnik. Den Abschluss der Veranstaltung stellt eine Exkursion zu einem GuD-Kraftwerk dar.

 

Seminare:

Advanced Seminar in Finance and Management Accounting: Energy and Power Markets
Das Seminar richtet sich an Studierende eines Masterprogramms der TUM mit der Schwerpunkt Finance & Accounting oder Energy Markets (TUM-WIN). 

Die Themenauswahl für das Seminar orientiert sich an aktuellen Problemen im Energiesektor wobei besonderes Augenmerk auf den Strommarkt gelegt wird. Der Fokus liegt auf der Verbindung der technischen Seite der Erzeugung einerseits und der Vermarktung andererseits. Die Themenbereiche erstrecken sich von der Energiepreismodellierung, über die Bepreisung von Verträgen bis hin zu Risikomanagement und der Analyse neuer Trends und struktureller Veränderungen auf den Märkten.

Studierende sollten Interesse sowohl an formalen sowie statistischen Modellen mitbringen und mit dem entsprechenden methodischen Vorwissen ausgestattet sein.


Veranstaltungen im Wintersemester 2013/2014

Vorlesungen:

Energy Trading
Diese Vorlesung vertieft die Wertschöpfungsstufe Energiehandel. Es werden die Aufgaben des Energiehandels, die verschiedenen Handelsprodukte und Märktplätze behandelt sowie auf das Risikomanagement eingegangen.

Challenges in Energy Markets II
Die Vorlesung bahandelt die Herausforderungen, denen sowohl konventionelle als auch erneuerbare Kraftwerksprojekte weltweit unterliegen. Dabei wird der Schwerpunkt auf der Auswahl, Finanzierung und Umsetzung der Projekte liegen.

Seminare:  

Advanced Seminar in Finance and Accounting: Economics of Renewable Energies
In dem Seminar Economics of Renewable Energies werden Wirtschafts- und Managementaspekte von Erneuerbaren Energien in liberalisierten Energiemärkten  behandelt. Themen sind unter anderem Fördersysteme für Erneuerbare Energien, Auswirkungen des Ausbaus Erneuerbarer Energien auf den Strommarkt sowie Investitionsentscheidungen und Finanzierung von Erneuerbaren Energien. Kenntnisse aus der Vorlesung Energy Markets werden zur Teilnahme vorausgesetzt.

 


Veranstaltungen im Sommersemester 2013

Vorlesungen:

Energy Markets
Diese Einführungsveranstaltung bietet überblicksartig eine wirtschaftswissenschaftliche Betrachtung der energiewirtschaftlichen Wertschöpfungsketten und der dazugehörigen Märkte. Dabei wird auf alle Stufen der Wertschöpfungsketten, Gewinnung/Erzeugung, Netze, Handel und Vertrieb eingegangen. Elektrizität und Wärme stehen als Endprodukte im Mittelpunkt. Das Thema wird insb. vor dem Hintergrund des Klimawandels und des Umstiegs auf erneuerbare Energien diskutiert.

 

Challenges in Energy Markets
Diese Vorlesung handelt von den Herausforderungen denen die Energiewirtschaft in den kommenden Jahren ausgesetzt ist. Dabei wird sowohl auf die Energiewende in Deutschland als auch in anderen Ländern eingegangen, als auch auf die Anbieter von Energietechnik. Den Abschluss der Veranstaltung stellt eine Exkursion zu einem GuD-Kraftwerk dar.

 


Veranstaltungen im Wintersemester 2012/2013

Vorlesungen:

Energy Trading
Diese Vorlesung vertieft die Wertschöpfungsstufe Energiehandel. Es werden die Aufgaben des Energiehandels, die verschiedenen Handelsprodukte und Märktplätze behandelt sowie auf das Risikomanagement eingegangen.

 

Seminare:

Energy and Power Markets: New Developments and Models
Die Themenauswahl für das Seminar orientiert sich an praktischen Problemen im Energiesektor. Der Fokus liegt auf der Verbindung der technischen Seite der Energieerzeugung einerseits und der Vermarktung andererseits. Die Themenbereiche erstrecken sich von der Energiepreismodellierung, über die Bepreisung von Verträgen bis hin zu Risikomanagement und der Analyse neuer Trends und struktureller Veränderungen auf den Märkten.

 

 


Veranstaltungen im Sommersemester 2012

Das Center for Energy Markets bietet in Kooperation mit dem Lehrstuhl für Controlling und dem Lehrstuhl für Finanzmanagement und Kapitalmärkte sowie der Professur für Technologiemanagement folgende Lehrveranstaltungen im Sommersemester 2012 an:

Vorlesungen:

Energy Markets
Diese Einführungsveranstaltung bietet überblicksartig eine wirtschaftswissenschaftliche Betrachtung der energiewirtschaftlichen Wertschöpfungsketten und der dazugehörigen Märkte. Dabei wird auf alle Stufen der Wertschöpfungsketten, Gewinnung/Erzeugung, Netze, Handel und Vertrieb eingegangen. Elektrizität und Wärme stehen als Endprodukte im Mittelpunkt. Das Thema wird insb. vor dem Hintergrund des Klimawandels und des Umstiegs auf erneuerbare Energien diskutiert.

 

Seminare:

Controlling in der Energiewirtschaft
Im Rahmen des Seminars werden die Themenbereiche Einführung und theoretische Grundlagen zu Energiewirtschaft, Ausgestaltung und Einflussfaktoren auf den Energiemärkten, Controlling in Energieversorgungsunternehmen und Zukunft der Energieversorgung behandelt. Ziel des Seminars ist es, in einem Team von zwei Leuten eine eigenständige Fragestellung aufzuarbeiten, in einer 20-seitigen Seminararbeit festzuhalten und in einem 15-minütigen Vortrag darzustellen. Darüber hinaus soll jedes Zweierteam ein Peer Review zur Arbeit eines anderen Teams erstellen und die Diskussion zu diesem Thema leiten.

Pricing, Herging und Risikomanagement auf Energiemärkten
Die Themenauswahl für das Seminar orientiert sich an praktischen Problemen im Energiesektor. Der Fokus liegt auf der Verbindung der technischen Seite der Energieerzeugung einerseits und der Vermarktung andererseits. Hierbei wird auf die Gemeinsamkeiten mit Finanzmärkten eingegangen aber auch die Grenzen der klassischen Theorien aufgezeigt und alternative Ansätze besprochen. Die Themenbereiche erstrecken sich von der Energiepreismodellierung, über die Bepreisung von Verträgen bis hin zu Risikomanagement und Realoptionsansätzen zur Investitionsplanung.