ECO 236, Economics of Energy and Public Policy is an elective in the undergraduate economics program and a required course in the interdisciplinary renewable energy major housed in the Technology Department.
The course is taught by Dr. David Loomis, Associate Professor of Economics at Illinois State University. Dr. Loomis is the Director of the Center for Renewable Energy and runs the Illinois Wind Working Group under the Department of Energy's Wind Powering America.
This course covers the economic and public policy issues related to the energy industry from a historical, present and future perspective. Students will learn the economic, legal and regulatory history of the industry to better understand the current issues confronting the energy marketplace. Without a proper understanding of the past, the analysis of current issues facing the industry is meaningless. Much of the industry's structure, conduct and performance is related to the historical context of its economic and regulatory past.
A proper economic framework will be developed to allow students to analyze the complex public policy issues that face the energy industry. In addition, students will gain a better understanding of the managerial decision-making that takes place in the industry. Although the course's focus is on the energy industry, much of the economic analysis is applicable to other industries as well.
Students will also examine the future issues that will confront this rapidly changing industry. Using economic models as a foundation, students will analyze complicated real-world situations. The course will have an emphasis on actual case studies.
Because this course is a required course in the Renewable Energy major, special emphasis will be made on renewable energy technologies and economics. The most rapidly growing renewable technology is wind energy and it will be highlighted as an template for analyzing the other renewable energy technologies.
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URL: http://www.econ.ilstu.edu/dloomis/236web/236home.html