Energy Markets: Theory and Evidence

The course covers the theory and practice of energy markets around the world with special emphasis in Latin America. It pays particular attention to the design and performance of electricity, transportation and pollution markets. It compares the performance of different market designs and policy instruments, including auctions, long-term contracts, market-based instruments such as taxes, subsidies, congestion pricing and emissions trading, and command-and-control instruments such as emission standards, driving restrictions, and low emission zones. The course is designed for advanced undergraduates and master students pursuing degrees related to energy and the environment and with a background in economics at the advanced undergraduate level. PhD students are also welcome.