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Energy Demand Management and Risk Management in Non-financial Companies Engineering & Social Sciences Program Fall 2023 Semester - Madrid

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Energy Demand Management and Risk Management in Non-financial Companies

Energy Demand Management and Risk Management in Non-financial Companies Course Overview

OVERVIEW

CEA CAPA Partner Institution: Universidad Carlos III de Madrid
Location: Madrid, Spain
Primary Subject Area: Energy Engineering
Instruction in: English
Course Code: 15082
Transcript Source: Partner Institution
Course Details: Level 400
Recommended Semester Credits: 3
Contact Hours: 42
Prerequisites: The prerequisite to follow the first part of this course is a basic knowledge usually introduced in courses of Principles of Economics.

DESCRIPTION

Part I: Energy Management
Demand and Supply of a firm. Demand and Supply of the Market. Equilibrium in a Competitive Market. The concepts of Elasticity. Estimation of Demand Functions and Supply Functions: the Identification Problem. The need to Forecast the Demand of Electricity and the role of the System Operator (REE).
Part II: Risk Management in Non Financial Firms

Introduction to Forward and Future Contracts. Introduction to Option Markets. The Black-Scholes Model. Term Structure of Interest Rates. Credit risk, credit spread, credit spread estimations. Hedging the Interest Rate Risk. Market Efficiency and Portfolio Choice. Hedging strategies, practical applications. Capital Asset Pricing Model (CAPM). Risk management and firm value. Risk management with Forwards and Swaps. Risk management with Futures and Options. Hedging options. Market risk. Credit risk measurement and credit derivatives.

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