GY478      Half Unit
Energy Markets and the Clean Energy Transition

This information is for the 2025/26 session.

Course Convenor

Dr Stephen Jarvis

Availability

This course is available on the MPhil/PhD in Economic Geography, MPhil/PhD in Environmental Economics, MSc in Environment and Development, MSc in Environmental Economics and Climate Change, MSc in Environmental Policy and Regulation, MSc in Environmental Policy, Technology and Health (Environment and Development) (LSE and Peking University), MSc in Environmental Policy, Technology and Health (Environmental Economics and Climate Change) (LSE and Peking University), MSc in Environmental Policy, Technology and Health (Environmental Policy and Regulation) (LSE and Peking University) and MSc in Geographic Data Science. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.

How to apply: Priority: Geography & Environment, then other students. Priority is typically for students enrolled in Geography and Environment programmes, or joint degree programmes, however course specific availability is indicated via the 'Availability section' on the LSE course guide webpages. Guidance on how to apply to individual controlled access courses can also be found on LSE for You in the Graduate Course Selection system.

Please note: The number of students that can be accommodated is limited. If a course is over-subscribed, places will be allocated at the Department's discretion and a waiting list may be created. It is advised to have an alternative course in mind as a back-up in case you are unable to secure your first-choice course selection.

Deadline for application: Further guidance and information on course selection for Geography and Environment courses will be available on the Geography and Environment Course Selection Moodle page which will go live in from Monday 8 September and will be updated with course availability information daily throughout the course selection period. This page includes information on the timeline for course selection decisions in the Geography and Environment Department as well as the individual course application processes and requirements

A list of all taught master's courses in this Department are listed on LSE's course guide webpages.

For queries contact: geog.env@lse.ac.uk

The number of students that can be accommodated is limited. If the course is over-subscribed, places will be allocated at the Department’s discretion and a waiting list may be created. For further details, please contact your relevant Programme Coordinator.

Requisites

Additional requisites:

Some knowledge of economics at an undergraduate level (or equivalent) is strongly recommended for this course.

Course content

Energy is a key input to virtually all forms of economic activity in the modern world. The energy sector is also undergoing a profound transformation as countries around the world transition away from fossil fuels toward cleaner, greener sources. Understanding the markets, regulations and policies that shape the energy sector and the clean energy transition is the aim of this course. The course begins with the core economics of supply and demand, and the role that competition and market power plays in determining energy prices. We also examine the technical and economic factors that determine the extraction, transportation and storage of different energy sources. Environmental externalities from carbon emissions and air pollution are a key focus, and we examine the way policies such as carbon prices and pollution standards affect the energy sector. In the latter part of the course we will examine natural monopoly regulation of utilities and consumers’ participation in retail energy markets. We will also cover a range of contemporary policy debates, including issues such as energy poverty, energy access in low-income countries, and the integration of renewable energy. In addition to engaging in active discussions during the lectures, the course will give students the chance to participate in an interactive electricity market game over the course of the term.

Teaching

27 hours of lectures in the Autumn Term.

Formative assessment

Students will be expected to produce 1 quiz and 1 other piece of coursework in the AT.

There will be an opportunity to get feedback on one or more of the coursework assignments submitted during the term.

 

Indicative reading

There is no specific textbook for this course. Detailed reading lists will be provided to support each course component, but the following texts may be useful:

  • Energy Primer: A Handbook of Energy Market Basics, Federal Energy Regulatory Commission, (2024).
  • Handbook on Electricity Markets, edited by Jean-Michel Glachant, et al., Edward Elgar Publishing Limited (2021).
  • Kolstad, C., Environmental Economics, Oxford: Oxford University Press, (2000).
  • Jeffrey R. Church and Roger Ware. Industrial Organization: A Strategic Approach. (2000).

Assessment

Quiz (40%)

Essay (60%)

The course will be assessed through coursework that is a combination of quizzes and written assignments.


Key facts

Department: Geography and Environment

Course Study Period: Autumn Term

Unit value: Half unit

FHEQ Level: Level 7

CEFR Level: Null

Total students 2024/25: Unavailable

Average class size 2024/25: Unavailable

Controlled access 2024/25: No
Guidelines for interpreting course guide information

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Personal development skills

  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills