Energy Economics and Policy

Learn the economics of real-world energy markets and how various policies can address the impact of rising global energy demand on the environment and climate.

Energy Economics and Policy

Learn the economics of real-world energy markets and how various policies can address the impact of rising global energy demand on the environment and climate.

With renewable sources playing an increasingly important role in meeting global energy demand and mitigating climate change, electric power systems and the related markets are changing. To prepare for a career in the future energy landscape, industry professionals, policymakers, and academics must understand these changes and develop specific, relevant skills to drive this energy transition within the necessary timeframe.

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In this course, you will learn to apply economic and socio-political analysis to real-world regulatory policy questions in a set of extremely important, interrelated energy markets. Specifically, by looking at real-world case studies and emerging research, you will explore key aspects of the oil, natural gas, electricity, and nuclear power sectors, and how policies such as carbon taxes and efficiency standards can drive reductions in greenhouse gas emissions. You will also employ systems-level analysis to predict policy outcomes not only within energy markets but across transportation, building and development, employment, and health and social sectors.

By the end of the course, you’ll have insights into how applied economics and policy tools can effectively move the global energy sector toward renewable and clean energy sources to mitigate climate change, while at the same time promoting economic development.

The course is free to audit. Learners can take a proctored exam and earn a course certificate by paying a fee, which varies by ability to pay. Please see our FAQ articles for more information on the certificate and audit track features as well as more information on the pricing structure. Enroll in this course by selecting the "enroll now" button at the top of the page.

This course can be completed by itself or as part of the MITx MicroMasters program in Data, Economics, and Design of Policy (DEDP), which provides a path toward the master’s in DEDP at MIT.

What you'll learn

The course will investigate the following topics:

  • Interrelated energy markets
  • Natural gas and international oil markets
  • Externalities associated with oil and gasoline
  • Electricity markets
  • Policy options and market mechanisms to drive more sustainable and equitable energy access
  • Economic and socio-political dimensions of international commitments to carbon reduction

Access the full syllabus here.

Prerequisites

Course Readiness Check:

This is an introductory course that does not require a readiness check.

Meet your instructors

  • Featured image for Christopher Knittel
    Professor of Applied Economics

Who can take this course?

Because of U.S. Office of Foreign Assets Control (OFAC) restrictions and other U.S. federal regulations, learners residing in one or more of the following countries or regions will not be able to register for this course: Iran, Cuba, Syria, North Korea and the Crimea, Donetsk People's Republic and Luhansk People's Republic regions of Ukraine.