International Energy Market and Decarbonization
- Credits: 4
- Ending: Examination
- Range: 2C
- Semester: summer
- Year: 2
- Faculty of Commerce
Teachers
Included in study programs
Teaching results
Students will possess following abilities:
- Comprehend the principles of international energy commodity trading and assess their impact on the energy policy framework of the Slovak Republic.
- Analyze the evolution, institutional structure, and current developments of the EU Energy Union.
- Evaluate the EU decarbonization policy and its effects on the competitive positioning of Slovak exports in global markets.
Students will obtain following skills:
- Efficiently analyze and interpret data from international energy databases and industry reports, focusing on global energy markets and specific energy carriers.
- Assess the regulatory impact on business strategies and investment planning in the energy sector.
- Produce well-structured analytical reports on contemporary energy-related issues at both the international level and within the Slovak Republic.
Students will gain following competences:
- A thorough understanding of business opportunities emerging from evolving trends in the global energy market.
- Proficiency in analyzing the scope and impact of regulatory frameworks governing the energy sector.
- The ability to identify and strategically leverage EU funding programs dedicated to energy sector development.
Indicative content
The international energy market, with a focus on the hydrocarbon sector and the state of energy security in both the Slovak Republic and the EU. Specific aspects of foreign trade in energy carriers within the Slovak Republic and their impact on foreign trade dynamics and structure. The Energy Union—its establishment, key pillars, and the decarbonization initiative. The effects of decarbonization measures and the Green Deal on the competitiveness of Slovak exporters, particularly due to the requirement to trade emission allowances and bear the costs associated with promoting greater use of renewable energy sources.
Support literature
HAFNER, Manfred; LUCIANI, Giacomo. The Palgrave handbook of international energy economics. Springer Nature, 2022.
IRFAN, Muhammad, et al. What derives renewable energy transition in G-7 and E-7 countries? The role of financial development and mineral markets. Energy Economics, 2023, 121: 106661.
NAEEM, Muhammad Abubakr; ARFAOUI, Nadia. Exploring downside risk dependence across energy markets: Electricity, conventional energy, carbon, and clean energy during episodes of market crises. Energy Economics, 2023, 127: 107082.
SVOBODOVA, Kamila, et al. Decarbonization, population disruption and resource inventories in the global energy transition. Nature communications, 2022, 13.1: 7674.
EUROSTAT. (2022). Database on energy consumption, prices and energy balance of sectors Retrived from: https://ec.europa.eu/eurostat/databrowser/view/nrg_bal_c__custom_8637394/default/table?lang=en
Syllabus
1. Recent developments in the international energy market according to the IEA and EIA. 2. Energy policy and energy security of the Slovak Republic. 3. Leading companies in the international energy market and foreign shareholders in the Slovak energy sector. 4. Challenges and issues in the European energy market. Regulation of both international and national energy markets. 5. EU energy policy, decarbonization, competitiveness, security of supply, and sustainability. 6. The EU Energy Union. 7. The international coal and oil markets, and the energy security of the Slovak Republic concerning oil supply. 8. The international natural gas market, and the energy security of the Slovak Republic concerning natural gas supply. 9. The international nuclear fuel market. 10. The international electricity market. Energy security of the Slovak Republic in the electricity sector and cross-border energy transfers. 11. Decarbonization and renewable energy sources. The role of renewables in the energy balance of the Slovak Republic and their impact on the competitiveness of Slovak industrial exporters. 12. Carbon tariffs and their significance in the EU's common trade policy. 13. Electromobility and its impact on the international energy market.
Requirements to complete the course
40 % Semester work and its presentation
60 % final exam (written test)
Student workload
Total: study load 4 credits x 26 h = 104 hours
Separate study load for individual educational activities:
Attendance at seminars: 26 hours
Preparation for seminars: 12 hours
Essay: 28 hours
Preparation for the final exam: 38 hours
Language whose command is required to complete the course
Slovak, English
Date of approval: 06.03.2024
Date of the latest change: 31.03.2025