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Module (6 Credits)

Energy Trading

Name in diploma supplement
Energy Trading
Responsible
Admission criteria
See exam regulations.
Workload
180 hours of student workload, in detail:
  • Attendance: 60 hours
  • Preparation, follow up: 60 hours
  • Exam preparation: 60 hours
Duration
The module takes 1 semester(s).
Qualification Targets

Students

  • are familiar with the structure of energy markets.
  • are able to work with standard models for energy- and commodity markets.
  • can valuate financial and energy-related assets, derivatives written on these underlyings and basic structured products.
  • understand some of the important regulatory and financial concepts underlying the energy markets as well as other commoditiy markets.
Relevance

The models discussed and the quantitative techniques used are common standard and frequently used in financial institutions and within the energy industry.

Module Exam

Written exam (generally 60-90 minutes)

Die Prüfung in diesem Modul darf nicht abgelegt werden, wenn Energiehandel I bereits bestanden ist.

Usage in different degree programs
  • BWL-EaF-Ma-2015 Pflichtbereich 1st-2nd Sem, Compulsory
  • EnergySc-Ma-2016 Fortgeschrittene Energiewissenschaft 1st Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der großen beruflichen Fachrichtung Wahlpflichtbereich BWL, VWL, Recht, Statistik Bereich BWL 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich II 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-Energie 1st-4th Sem, Elective
Elements
Name in diploma supplement
Lecture Energy Trading
Organisational Unit
Lecturers
SPW
2
Language
English
Cycle
winter semester
Participants at most
no limit
Preliminary knowledge

Good knowledge in statistics and econometrics.

Abstract

The course provides a thorough overview of recent developments in energy and commodities markets, modeling approaches for these markets as well as of valuation methods for energy derivatives and risk management techniques.

Contents
  1. Principles of energy  spot – and forward markets
  2. Futures, forwards and swaps
  3. Mathematical models for energy markets and energy price processes
  4. Modelling and valuation of derivatives used in energy markets  Risk management in energy markets
Literature
  • Burger, M., Graeber, B. and Schindlmayr. G.: Managing Energy Risk: An Integrated View on Power and Other Energy Markets, John Wiley & Sons, 2007
  • Kaminiski, V.: Energy Markets, RISK books, 2013 
  • Eydeland, A. and Wolyniec, K.: Energy and Power Risk Management, John Wiley & Sons, 2003
  • Geman, H.: Commodities and Commodity Derivatives, John Wiley & Sons, 2005
  • James, T.: Energy Markets: Price Risk Management and Trading, John Wiley & Sons, 2008.
Teaching concept

presentation, discussion

Participants
  • BWL-EaF-Ma-2015 Pflichtbereich Modul "Energy Trading" 1st-2nd Sem, Compulsory
  • EnergySc-Ma-2016 Fortgeschrittene Energiewissenschaft Modul "Energy Trading" 1st Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der großen beruflichen Fachrichtung Wahlpflichtbereich BWL, VWL, Recht, Statistik Bereich BWL Modul "Energy Trading" 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich II Modul "Energy Trading" 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-Energie Modul "Energy Trading" 1st-4th Sem, Elective
Lecture: Energy Trading (WIWI‑C0831)
Name in diploma supplement
Exercises Energy Trading
Organisational Unit
Lecturers
SPW
2
Language
English
Cycle
winter semester
Participants at most
no limit
Preliminary knowledge

Good knowledge in statistics and econometrics.

Abstract

See lecture.

Contents

Recap, discuss, apply and deepen topics covered during the lecture with the help of scientific papers, practical applications and training exercises. Improve theoretical knowledge as well as applied research skills.

Literature

See lecture.

Teaching concept

Presentation, discussion

Participants
  • BWL-EaF-Ma-2015 Pflichtbereich Modul "Energy Trading" 1st-2nd Sem, Compulsory
  • EnergySc-Ma-2016 Fortgeschrittene Energiewissenschaft Modul "Energy Trading" 1st Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der großen beruflichen Fachrichtung Wahlpflichtbereich BWL, VWL, Recht, Statistik Bereich BWL Modul "Energy Trading" 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich II Modul "Energy Trading" 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-Energie Modul "Energy Trading" 1st-4th Sem, Elective
Exercise: Energy Trading (WIWI‑C0832)
Module: Energy Trading (WIWI‑M0678)