Energy Systems Economics
Dr. Gerald Sheblé
Fall 2007
Tuesday/Thursday 4:00-5:50 p.m.
This course introduces and develops the concept of energy system supply chain economics as a tool for physical asset operation and planning decision-making today. It provides the foundations of networks both as an intuitive tool and graphical medium as well as a rigorous methodological one for the formulation, qualitative analysis, and computation of solutions to system equilibrium problems. Hence, it considers both physical networks such as transportation networks, whose structure maps into nodes, links, and flows, and information networks.
The course traces the presence of networks in a global economy and demonstrates how a variety of problems are concerned with flows over space and time where the flows may be of commodities, money, and/or informational. It provides the basic theory of networks and overviews the fundamental theory of mathematical programming, specifically, optimization theory and variational inequality theory, to enable the formulation and solution of the network problems. The course also surveys effective computational algorithms which take advantage of the underlying network structure of the problems.
The course then describes specific applications which underlie the network analysis including congestion and spatial price equilibrium problems. Other applications include: market equilibrium problems, migration equilibrium problems, financial equilibrium problems, knowledge and environmental network problems. A variety of strategies and analysis requirements, along with their ramifications are explored in these contexts. The course provides a solid introduction to the subject.
More advanced topics are subsequently studied which focus on energy system operation and planning in today's Information Age. These include: multicriteria decision-making with applications to internet shopping as well as supply chain networks with electronic commerce.
This course is taught in lecture format with many additional examples given in class as well as time for discussion.
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