Design Under Uncertainty in Energy and Mineral Systems

Catalog description

This class is designed to present a broad range of tools for evaluating energy projects, technologies, and systems. Topics will include project evaluation methods (NPV, discounting), tools for decision/design under uncertainty (Monte Carlo simulation, decision trees, lattices, real options), optimization (linear programming, stochastic programming), and economics/markets/regulation (review of microeconomics, market failures, regulation, and market design). Students will focus both on the intuition and appropriate application of the various methods and theories.