CSEM Executive Education
Economic Fundamentals of Energy and the Environment
Buehler Alumni Center
University of California, Davis
Davis, CA 95616
April 23-24, 2007
CSEM holds a day and a half intensive executive education course on the “Economic Fundamentals of Energy and the Environment.” The course is held at the University of California, Davis and taught by Professor Severin Borenstein and Dr. Jim Bushnell, both from the UC Berkeley Haas School of Business and the UC Energy Institute.
Course Description Energy market operations and environmental regulation have increasingly become intertwined. An understanding of one is crucial for a complete understanding of the other. Drawing heavily on the tools of economics, this course will cover the fundamental concepts behind various approaches to environmental regulation and their impacts on energy markets. The consequences of various regulatory strategies will be examined in the context of the continuing changes in the organization and regulation of energy markets.
Examine the fundamentals economic justifications for environmental regulation
Comprehend basic regulatory policies such as taxes, standards, and subsidies
Identify market implications of different regulatory strategies
Understand the merits and weaknesses of “cap-and-trade” regulatory systems
Explore the implications of global climate change on the evolution of energy markets
Who Should Attend? Management and senior level regulatory staff with minimal training in economics or electricity regulation;
Professional staff interested in the economics of environmental regulation; and
Energy industry professionals interested in understanding the interplay between environmental regulation and market outcomes.
Severin Borenstein is Co-Director of CSEM, a Professor of Business Economics at UC Berkeley’s Haas School of Business, and Director of the University of California Energy Institute. Professor Borenstein holds a Ph.D. in economics from MIT. His research focuses on business competition and government regulation. He is the author of many articles on competition in electricity markets and on the gasoline and oil markets. Professor Borenstein also has done extensive research on the airline industry. He has advised many state and federal agencies and state and foreign governments on energy and airline matters. He is a research associate of the National Bureau of Economic Research in Cambridge, Massachusetts. Professor Borenstein previously served as a member of the Board of Governors of the California Power Exchange.
James Bushnell is Co-Director of CSEM, Research Director of the University of California Energy Institute and a Lecturer at UC Berkeley’s Haas School of Business. Dr. Bushnell holds a Ph.D. in Industrial Engineering and Operations Research from UC Berkeley. His research focuses on many aspects of operations, regulation and competition in the electricity industry. He is the author of many articles covering such topics as auction design, transmission planning and investment, market power, and energy demand. Dr. Bushnell serves on the California’s Independent System Operator’s Market Surveillance Committee and has served on the Market Monitoring Committee of the California Power Exchange.
For more information about the course, please send an inquiry to [email protected].