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Training Sessions 2016 (choose one)

1) Advanced Electricity Sector Modeling: Restructured Electricity Markets and Locational Marginal Pricing

This course will start with a short introduction to electricity markets, institutions, trends, and future perspectives. Based on this, it will cover four specific topics in economic electricity market modeling that are vital for an understanding of  the mechanics of electricity markets, thus enabling participants to generate recommendations and ideas for adjusting the market to new challenges. These topics are: i) Market perspective: offer based dispatch, (ii) Transmission perspective: locational marginal pricing, (iii) Risk perspective of market and transmission operation: hedging & trading, and (iv) Risk perspective on transmission planning. The course will introduce advanced modeling techniques to deal with large-scale multi-stage stochastic programs, and provide application examples.

Participants are expected to have a basic knowledge of linear and mixed-integer optimization problems as well as hands-on experience in GAMS.

Trainer: Dr. Ross Baldick, is Professor in the Department of Electrical & Computer Engineering at The University of Texas at Austin and holds the Leland Barclay Fellowship in Engineering. He is a leading expert in the economic modeling of electricity markets. His research focuses on spatial price differentiation,  and the role of uncertainty for short-term dispatch and long-term investment decisions.



2) Modelling Resource Markets: Advanced Methods of Operations Research

This course investigates strategic interactions in energy resource markets and covers advanced optimization and equilibrium concepts to solve the associated models. It aims to provide participants with a strong theoretical understanding of Generalized Nash games, leader-follower Stackelberg games, and the related mathematical concepts of (Quasi-) Variational Inequalites (VI and QVI), Mixed Complementarity Problems, and Mathematical/Equilibrium Problems under Equilibrium Constraints (MPEC/EPEC). The practical part of the course covers applications of these methodologies to energy market problems, based on examples from the recent literature, and case studies in the oil, natural gas, and coal sector.

Participants are expected to have a basic  knowledge of nonlinear optimization, mixed complementarity problems, Karush-Kuhn-Tucker conditions and convexity in higher dimensions as well as hands-on experience in GAMS.

Trainer: Sauleh Siddiqui, PhD, Assistant Professor at the Whiting School of Engineering and is on the leadership council of the Systems Institute at Johns Hopkins University, Baltimore.  



3) Efficiency Analysis of Infrastructure Companies

Attention: This course will most likely take place in the week 4-7 October

This course focuses on recent advances in (semi)parametric measurement of productivity and efficiency in production. The methodological discussion includes cross-section and panel data approaches as well as different ways of incorporating determinants of production and inefficiency. The methods are applied to firm level data of public and private infrastructure companies, which are frequently subject to regulatory oversight and benchmarking. Within the empirical analysis of these companies, special attention will be put on the differences in ownership and governance, firms’ capital structure, and their investment behavior.

Participants should have a thorough knowledge of micro-econometrics, nonparametric and parametric efficiency analysis and the software R. Knowledge of STATA is recommended.

Trainer: Subal Kumbhakar, Ph.D., is distinguished Professor of Economics at the University of Binghamton, New York State. His main area of research is applied microeconomics with a focus on efficiency estimation. His works is mainly based on micro data with a special focus on panel data models and their application in various industries, as e.g. banking, electricity generation and distribution, and agriculture. His research has been published in the leading econometric journals, as. Econometrica and the Journal of Econometrics, and various leading field journals, as. the Journal of Productivity Analysis, Energy Economics and the American Journal of Agricultural Economics.


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