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Applied Energy Program

Submitted by dfto on Wed, 07/11/2007 - 12:56pm

The Objectives

The primary objective of this program is to provide the student with the historical and institutional background and the basic tools necessary for an understanding of the operation of North American and world energy markets. The program includes the development of a variety of information, analytical and problem-solving skills.

 It is anticipated that students who graduate with a minor or concentration in applied energy economics will enhance their prospects of securing relevant and rewarding employment in the energy sector.

 Additional education and training is recommended for those wishing to take full advantage of the career opportunities in applied energy economics. This typically involves the completion of a masters degree. The Department of Economics offers MA(Econ) and Ph.D. programs with a variety of specializations, including energy and resource economics. Students contemplating graduate work should consult the Department in the selection of courses.

Energy Sector and Issues

Energy is one of the key inputs for any well-functioning economy. Economic principles play an important role in determining the size, structure and functioning of the energy sector, its role in the economy, and in the development and application of a variety of policies and regulations relating to energy.

The energy sector is a large and critical component of the national and regional economy. It encompasses many aspects (exploration, development, processing, production, transportation, marketing and distribution) of energy. This includes energy in the form of natural gas, synthetic and conventional crude oil, gas liquids, coal and nuclear, hydro and thermal electricity, as well as other non-conventional energy sources.

The following are examples of the types of problems and issues dealt with in applied energy economics.

  • the determinants of oil and gas prices and geographical variations in petroleum prices
  • modeling electricity supply and demand
  • new approaches to the organization and operation of electricity markets
  • factors affecting petroleum supply and demand and forecasting supply and demand
  • the operation of petroleum markets, including futures markets
  • economic instruments for environmental protection
  • optimizing oil and gas production, transportation and processing
  • pricing (tolling) for transportation/transmission services
  • investment decision-making for exploration, development, production, processing and transportation
  • market imperfections and the role of regulation and government policies
  • incentive regulation
  • alternatives for meeting future energy requirements
  • energy rents, taxation and royalties
  • environmental implications of alternative energy futures.

The Program

There are two options available to students. For the non-Economics major there is a Minor in Applied Energy Economics. For the Economics major there is a Concentration in Applied Energy Economics. Upon successful completion of the program, the designation (Minor or Concentration in Applied Energy Economics) will appear on the student's transcript from the University of Calgary.

Minor in Applied Energy Economics

For the non-Economics major, the minor in applied energy economics requires the completion of 5 full-course equivalents (FCE) from the following courses:

(any four courses) (all required)
Economics 323     Economics 201
Economics 325 Economics 203
Economics 327  Economics 301
Economics 329  Economics 357
Economics 377 Economics 395
Economics 427 Economics 493
Economics 475  
Economics 477  
Economics 487  
Economics 527  
Designated Econ 399/499/599 as applicable  

All other regulations concerning the particular degree program the student is registered in at the University of Calgary still apply.

Concentration in Applied Energy Economics

This is applicable to students who are economics majors (or honours students in economics). It requires completion of four (4.0) full-course equivalents (FCE) from the following list of courses:

(any six(6)   or more of  the following courses)

  • Economics 323
  • Economics 325 
  • Economics 327
  • Economics 329
  • Economics 377
  • Economics 475
  • Economics 477 
  • Economics 487
  • Economics 495
  • Economics 527
  • Designated Econ 399/499/599 as applicable

(both required)

  • Economics 427
  • Economics 493

Students should consult the Department regarding the requirements for a Concentration in Applied Energy Economics, particularly in the case of BA Honours, Co-operative Education, Double Degree or Joint Degree programs.

Course Listings

  • Economics 323 (Natural Gas Markets)
  • Economics 325 (The North American Oil Industry)
  • Economics 327 (Petroleum Economics)
  • Economics 329 (Electricity Markets)
  • Economics 357 (Intermediate Economic Theory - Microeconomics II)
  • Economics 377 (Economics of the Environment)
  • Economics 395 (Use of Statistics in Economics)
  • Economics 427 (Energy Economics and Policy)
  • Economics 475 (Economics of Natural Resources)
  • Economics 477 (Economic Regulation and Competition Policy)
  • Economics 487 (Environmental Economics)           
  • Economics 493 (Empirical Energy Economics)
  • Economics 495 (Econometrics I) 
  • Economics 527 (World Oil Economics)
  • Economics 399/499/599 --- decimalized special topics courses that may be included as elective energy courses with the approval of the applied energy economics program advisor.


Applications for admission to the program (either the Minor or Concentration in Applied Energy Economics) can be made to the Faculty of Arts. Prior to applying for admission, students must have completed Economics 201/203 and obtained a grade point average of at least 2.7 over the most recent course work to a maximum of five full-course equivalents. (See the University of Calgary Calendar for details.) A GPA of at least 2.7 must normally be maintained for continuation in the program.

Admission to the program may have to be limited. If applications exceed spaces, students will be admitted in order of descending GPA.

For additional information, please contact Dr. Ron Schlenker by email at .

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