Energy Economics

Energy Economics

  • Study programme and level:The joint doctoral study programme Governance and Economics in the Public Sector (third cycle)
  • 2nd year
  • 5 ECTS
  • Course type: Elective course
  • Lectures: 20
  • Seminar: 20
  • Other forms of study: 20
  • Individual work: 90
  • Lecturer: Nela Vlahinić, PhD

1. Objectives and competences


  • Use the most important knowledge and skills needed for successful economic analysis in the field of energy economics.
  • Distinguishe the characteristics of different energy markets.
  • Apply economic methods in evaluating energy projects.
  • Apply the tools for energy price risk management.


  • To understand the importance and role of energy sector in economic growth of national economies.
  • To understand the importance of economic planning and management in energy sector.
  • To critically evaluate characteristics, market structures, regulatory practice and risks in different energy markets.
  • To understand the energy price risks and manage the risks by using modern financial tools and financial derivatives.
  • To forecast the energy prices by knowing the market specifics and by using modern financial methods.

2. Content (Syllabus outline)

  • The role of energy sector for the economy
  • Energy markets (oil, gas, coal, electricity, renewable energy sources)
  • Energy balances and energy indicators (on global and EU level)
  • Energy sector reforms (restructuring, liberalization, privatization)
  • Institutional settings and regulation of energy markets
  • EU energy policy and the Third energy package
  • Energy strategy and policy

3.  Readings

  • Vlahinić-Dizdarević, Nela i Žiković, Saša, Ekonomija energetskog sektora: Izabrane teme, Ekonomski fakultet u Rijeci, 2011.
  • Carol A. Dahl, 2008, Međunarodna tržišta energije: Cijene politike i profiti, Kigen, Zagreb
  • Jean-Michel Glachant and Francois Leveque, 2009, Electricity Reform in Europe: Towards a Single Energy Market, Edward Elgar
  • Jean-Marie Chevalier (Ed.), 2009, The New Energy Crisis, Palgrave Macmillan

4. Intended learning outcomes


5. Learning and teaching methods

  • Lectures and seminars in class room; individual study and research work of students.
  • Lectures – contemporary topics in the field of energy economics are presented.
  • Seminars – students present topics and results of their research work.
  • Individual study for the exam.

6. Assessment

Written exam 100%