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Course syllabus - Economic Analysis of Energy Technology and Energy Systems, 5 credits

Information about the course

  • Course code: FOES033
  • Third-cycle subject: Energy and Environmental Engineering
  • School: School of Business, Society and Engineering
  • Responsible department: Department of Sustainable Energy Systems
  • Valid from: Spring term of 2026
  • Established by: Dean of School
  • Decision date: 2025-10-16
  • Last modified: 2025-10-06
  • Level of education: Third cycle level

Course objective

The purpose of the course is to equip the participants with the essential concepts, tools and frameworks from microeconomics and macroeconomics to analyse, model, and evaluate energy technologies and energy systems. Participants will develop the ability to perform detailed techno-economic assessments at the project level, and to understand and interpret market mechanisms, energy statistics, and policy influences at the system level.

Through a mix of theoretical foundations, real-world datasets, and case studies, participants will learn to make informed decisions regarding energy investments, operations, and strategic planning within diverse market and policy environments. The course provides a critical foundation for energy-related research and project management in industrial contexts.

Course content

  • Concepts in engineering economics, equivalence, compound interest, depreciation, inflation, and taxation, time value of money, cash flow, key performance indicators etc.
  • Flow diagram: block flow diagram (BFD), process flow diagram (PFD), piping and instrumentation diagrams.
  • Energy engineering life cycle cost and profit analysis, uncertainty analysis.
  • Energy economics statistics and global datasets, energy markets overview, scenarios and long-term planning.

Intented learning outcomes

After completing the course, the doctoral students should be able to:

  1. independently perform engineering economic life cycle cost and profitability analysis; use key indicators to support engineering economic decision making.
  2. interpret and analyse energy market data and statistics from global and regional sources; explain the components, structure and functioning of regional electricity market, heat market and global energy markets
  3. compare energy systems across different countries and regions in terms of market structure, policy, and economic performance.
  4. describe how long-term scenarios and forecasts shape energy investment and planning.

The intended qualitative targets in relation to the Higher Education Ordinance, appendix 2.

Knowledge and understanding

For the Degree of Doctor, the doctoral student shall demonstrate:

  • A1: broad knowledge and systematic understanding of the research field as well as advanced and up-to-date specialised knowledge in a limited area of this field, and
  • A2: familiarity with research methodology in general and the methods of the specific field of research in particular.

Competence and skills

For the Degree of Doctor, the doctoral student shall demonstrate

  • B1: the capacity for scholarly analysis and synthesis as well as to review and assess new and complex phenomena, issues, and situations autonomously and critically.

Teaching formats

Seminars and lectures.

Examination

SEM, active participation in seminars and lectures, 1 cr, concerning learning outcomes 1-4, grade fail (U) or pass (G).

INL1, individual assignment, 4 cr, concerning learning outcomes 1-4, grade fail (U) or pass (G).

For Pass (G) on the course, the participant must pass both SEM and INL1.

Grade

Examinations included in the course are assessed according to a two-grade scale, fail or pass.

A person who has not passed the regular examination shall be given the opportunity to retake the test.

Requirements

To participate in the course and the examinations included in the course, the applicant must be admitted to doctoral studies. Subject to availability, teachers at Mälardalen University that hold a doctorate can be offered to take part of the course.

Selection criteria

Selection of applicants will be made in accordance with the ranking below.

  1. Doctoral students in Energy Engineering or Environmental Engineering.
  2. Doctoral students at Mälardalen University.
  3. Doctoral students at other higher education institutions.