|Teaching method||Contact hours|
|Course coordinator(s)||dr. D Drabik|
|Lecturer(s)||dr. D Drabik|
|Examiner(s)||dr. D Drabik|
Language of instruction:
Assumed knowledge on:
ECH21806 Microeconomics or AEP20306 Economics of Agribusiness.
Thesis; UEC-51806 Advanced Microeconomics.
The purpose of this course is to analyze the social costs and benefits of biofuels and biofuel policies (e.g., mandates, tax exemptions, and various subsidies) in assessing a broad spectrum of proclaimed public policy goals (e.g., improving the environment, energy security, or agricultural incomes). The course will shed light on how biofuel policies established the crop-energy price link; on the contradictory effects of combining mandates with different subsidies; and on the various surprising welfare economic effects.
After successful completion of this course students are expected to be able to:
- critically evaluate the economic literature on the topic by identifying problems in particular papers;
- calibrate a basic model for corn-ethanol and canola-oil biodiesel;
- apply the calibrated models by simulating the market and welfare effects of various policy scenarios;
- assess how well the various energy security, environmental and farm policy goals are being achieved.
- attending tutorials;
- discussions with other students;
- reading the assigned literature;
- writing an individual paper.
- individual paper (60%);
- group assignments, presentations and participation in discussion tutorials (40%).
De Gorter, H., Drabik, D., and Just, D.R. 2015. The Economics of Biofuel Policies: Impacts on Price Volatility in Grain and Oilseed Markets. Palgrave Macmillan.