Syllabus

Econ 3391: Economics of Energy and the Environment

Gasson Hall 304
Section I: MW 9:00-10:15 AM
Section II: MW 10:30-11:45 AM

Instructor: Richard Sweeney
Email: sweeneri@bc.edu

Office: Maloney Hall 334
Office hours: Tuesdays 3:45-4:30 PM

Graduate Assistant: Pedro Oliveira Email: oliveip@bc.edu

Course website: http://www.richard-sweeney.com/econ3391/

Overview

This course provides an introduction to the economics of energy, with an emphasis on the implications for environmental policy. Modern life is completely dependent on cheap, abundant, reliable energy. Our current energy supply is also economically inefficient and environmentally unsustainable. Over the course of the semester, we will explore how economics can help us pursue these two goals: cheap reliable energy and transitioning away from fossil fuels.

For specific topics taught this year, see the course calendar and the “Modules” dropdown menu.

Prerequisites

Microeconomic Theory (ECON2201 or ECON2203) and Econometric Methods (ECON2228) are (strict) prerequisites for this course. I will assume that you remember all important concepts from both courses.

Textbook

There is no textbook for this course. The material will consist of lecture notes and academic articles which will be posted on Canvas. For those interested, I have listed several good optional text books on the resources page.

Pre-Class Required Readings and Assignments

There will be one or two required readings for each class. These will be listed in the module page linked to each lecture date in the course calendar. It is essential that you complete these readings before class in order to contribute to and benefit from the discussion. Many lectures will also have supplementary readings listed on the same page. Although these are not required, reading them will enhance your understanding of the material.

On roughly a quarter of the class meetings, you will be asked to complete a short pre-class assignment. These will be posted on the module page for that lecture. Your answers should be uploaded as directed. We will then discuss these problems in class. Being prepared with your answers will help you participate more effectively in the discussion, which will be an important component of your class participation grade.

Grading

Homework - 10 percent

Most lectures will involve one or two core analytical or empirical concepts. We will go over an example problem in class. However, in order to fully internalize these concepts, you will need to practice them on your own. To this end, lectures will have a post-class “homework” assignment.

You should attempt these problems on your own. However you may use AI to check your work or help if you are stuck. Handwritten solutions must be uploaded to Canvas by the due date. Solutions will be posted after the due date.

In class assignments & participation - 25 percent

  • Students are expected to be engaged in class. If I feel that this is not happening I will resort to cold calling.
  • We will do several in-class group exercises over the course of the semester. Coming to class prepared to participate in these exercises is an important part of your grade.
  • On some of these days, there will be short pre-class assignments. These must be handed in before the start of class in order to receive credit.
  • Later in the semester, we will play a week long group Energy Market Game. You will be required to explain your group’s thinking in class, and submit a short writeup of your group’s strategy and results at the end. More details will be provided after the midterm.

Midterm – 25 percent

  • There will be one in class midterm on October 15th.
  • If you miss a midterm, you must take a different makeup exam during office hours the following week. Makeup exams will not be curved.

Final Exam - 40 percent

  • A cumulative final exam will be administered during the final exam period at the university scheduled time.
  • You must take the final exam at the scheduled time. Makeup or early finals will not be allowed. Please look at the exam schedule now and confirm that you will be on campus at that time.

Expected grade distribution

At the end of the semester, I expect grades to follow the Economics department’s preferred distribution, with approximately 1/3 of the class getting A’s and an average of B+/B. If necessary, I will curve final grades (summed across all assignments at the end of the semester) upwards to achieve this distribution. I will not curve grades downwards.

Important policies

Attendance and participation: All tudents are expected to attend class. Persistent absences will reduce your final grade.

Assigned seats: In order to facilitate attendance, I will ask that students try to sit in the same seat every class. Seats will be assigned based on where everyone is sitting on the third day of class.

Accommodations: I will gladly accommodate students with disabilities. Please speak with me at the start of the course to help me understand your needs. If you are allowed extra time on exams, it is your responsibility to schedule a time to take the exam at Connors on the same day as the rest of the class. The exam dates are posted, please book a time asap.

Academic integrity: Students are advised to carefully review and abide by the university’s policies on academic integrity. Any instances of cheating or plagiarism will be reported to the Dean’s office without exception.

AI Tools

As discussed above, I fully expect that students will routinely use AI tools to help understand the reading and review the lecture materials. However, exams and quizzes will be closed book, and will be designed to assess your understanding of the material without the aid of these tools. Completing the homework on your own, without the aid of AI is the best way to prepare for these exams.

The pre-class assignments are designed with the expectation that many of you will use AI to help you complete them. As such, I have raised the bar this year in terms of what I will ask you to complete, including asking you to do some coding and data analysis. You will be evaluated not only on the basis of what you submit, but also on your ability to explain your work and the reasoning behind it in class.