Energy Markets, Risk & Trading
Niveau
Introduction & in-depth study
Learning outcomes of the courses/module
The participants:
• describe the structure of national and international energy markets and explain basic market mechanisms.
• analyze energy price formation, supply-and-demand dynamics and relevant market parameters.
• assess risks in energy trading on the basis of fundamental risk types, market indicators and influencing factors.
• carry out simple trading strategies and interpret the results with regard to market development and risk behavior.
• use basic energy trading instruments such as spot, futures and forward contracts and derive fundamental options for action for trading decisions.
• describe the structure of national and international energy markets and explain basic market mechanisms.
• analyze energy price formation, supply-and-demand dynamics and relevant market parameters.
• assess risks in energy trading on the basis of fundamental risk types, market indicators and influencing factors.
• carry out simple trading strategies and interpret the results with regard to market development and risk behavior.
• use basic energy trading instruments such as spot, futures and forward contracts and derive fundamental options for action for trading decisions.
Prerequisites for the course
none
Course content
- Overview of energy markets, including market structures, players, price formation mechanisms and relevant energy sources
- Fundamentals of energy trading, including spot markets, futures markets, OTC trading and basic trading instruments
- Price formation and market dynamics, including influencing factors such as supply, demand, regulation and geopolitical conditions
- Risk management in energy trading, including basic risks such as price risks, volume risks and simple risk metrics
- Trading strategies, including basic decision models and practical application within a business simulation
- Carrying out simple trading decisions, interpreting market developments and assessing one's own risk behavior
- Fundamentals of energy trading, including spot markets, futures markets, OTC trading and basic trading instruments
- Price formation and market dynamics, including influencing factors such as supply, demand, regulation and geopolitical conditions
- Risk management in energy trading, including basic risks such as price risks, volume risks and simple risk metrics
- Trading strategies, including basic decision models and practical application within a business simulation
- Carrying out simple trading decisions, interpreting market developments and assessing one's own risk behavior
Recommended specialist literature
- Bhattacharyya, S. C. (2019). Energy economics: Concepts, issues, markets and governance (2nd ed). Springer.
- Hafner, M., & Luciani, G. (Eds). (2022). The Palgrave Handbook of International Energy Economics. Springer International Publishing. https://doi.org/10.1007/978-3-030-86884-0
- Kandpal, V., Jaswal, A., Santibanez Gonzalez, E. D. R., & Agarwal, N. (2024). Sustainable Energy Transition: Circular Economy and Sustainable Financing for Environmental, Social and Governance (ESG) Practices. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52943-6
- Müsgens, F., & Bade, A. (2024). Energy Trading and Risk Management. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-57238-8
- Thewissen, J., Arslan-Ayaydin, Ö., Westerman, W., & Dorsman, A. (Eds). (2024). The ESG Framework and the Energy Industry: Demand and Supply, Market Policies and Value Creation. Springer International Publishing. https://doi.org/10.1007/978-3-031-48457-5
- Hafner, M., & Luciani, G. (Eds). (2022). The Palgrave Handbook of International Energy Economics. Springer International Publishing. https://doi.org/10.1007/978-3-030-86884-0
- Kandpal, V., Jaswal, A., Santibanez Gonzalez, E. D. R., & Agarwal, N. (2024). Sustainable Energy Transition: Circular Economy and Sustainable Financing for Environmental, Social and Governance (ESG) Practices. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52943-6
- Müsgens, F., & Bade, A. (2024). Energy Trading and Risk Management. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-57238-8
- Thewissen, J., Arslan-Ayaydin, Ö., Westerman, W., & Dorsman, A. (Eds). (2024). The ESG Framework and the Energy Industry: Demand and Supply, Market Policies and Value Creation. Springer International Publishing. https://doi.org/10.1007/978-3-031-48457-5
Assessment methods and criteria
Portfolio assessment
Language
English
Number of ECTS credits awarded
5
Semester hours per week
Planned teaching and learning method
Lectures, discussions, exercises, case studies, group work
Semester/trimester in which the course/module is offered
2