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International Energy Management



Course Outline:

The purpose is to survey international energy markets and to cover their characteristics, which are: dependence on exhaustible resource, the importance of externalities (largely environmental, e.g. SO2, CO2, etc.) and the influence of public ownership or regulation of utilities. And above all, this business is characterized by dramatic changes due to the world-wide deregulations and privatization of formerly nationalized and regulated industries, not to mention the recent turmoils in energy markets (high oil prices, interruption of gas supplies from Russia, global warming and emission trading). Thus the lecture gives an overview of international energy markets followed by theoretical parts addressing these three crucial aspects – resources, pollution and utilities - including policy issues but restricted to applying the theory of public choice (at any rate under-applied in management investigations) albeit environmental issues are sidelined to another course. A particular emphasis is on the international differences in organising and regulating the energy industry and recent developments in power industries all over the world.

Major Topics:

  • Survey of international energy markets
  • Exhaustible resources
  • Alternatives (backstops)
  • Oil price jumps (and falls)
  • The Politics of Int. Energy Markets
  • Externalities briefly: Global Warming, Energy Taxes
  • Public interventions (ownership, regulation)
  • Topical issues of privatization and deregulation (U.K., EU, US - California, Austria)
  • Electricity markets

Organisation / Time & Place:

The course is scheduled every Thursday between 15:00 and 16:30 in HS 12.


The two exams will take place on the following dates and times:

  • 1. Friday, Nov 25th, 13:15 - 14:45, HS 4

  • 2. Friday, January 27th, 13:15 - 14h45, HS 4

Please make a note of the dates as no alternative dates will be offered.


The assessment is based on two written exams, each contributing 50% to the final grade.
The minimum requirement for a positive graduation are 50 percent:

  • 5: less than 49%
  • 4: 50% - 61%
  • 3: 62% - 75%
  • 2: 76% - 87%
  • 1: 88% - 100%

Please note that regular class attendance is compulsory in this course.


The material for the course, as well as for the exams are the slides presented in class and the additional script.

All materials (script and slides) are password protected. Do not use Copy&Paste for inserting password. If any problems with opening files, contact iaroslava.holzer@univie.ac.at

Script Int. Energy Management

Introduction [9,99 MB]

 Lecture 27.10 

Resources [7,58 MB]                                        

Volatility [1,23 MB]                                             

Oilprice Volatility [1,01 MB]            

Topics for the 1st Test

Utilities [458 KB]                            

Privatization [1,01 MB]              

Modelling gas markets [2,10 MB]

Supply shock [1,09 MB]

Electricity [1,16 MB] 

Greenhouse effect [1,76 MB]

 Topics for the 2nd Test




Midterm Results

Final Results

Fachbereich für Industrie, Energie und Umwelt
Univ.-Prof.Dr. Franz Wirl
Universität Wien

Oskar-Morgenstern-Platz 1
1090 Wien
T: +43-1-4277-381 02
Universität Wien | Universitätsring 1 | 1010 Wien | T +43-1-4277-0