|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 or AEP33306
Thesis; UEC-51806 Advanced Microeconomics.
The purpose of this course is to analyze the economic and environmental impacts of biofuels and biofuel policies (e.g., mandates, tax exemptions, and various subsidies). 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.
- in-class discussions;
- reading the assigned literature;
- critique of an assigned article on the topic;
- replicating the results of a quantitative model.
- replication of a model (40%);
- critique / analysis of an assigned paper (40%)
- presentations and participation in discussion tutorials (20%).
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.