Carnegie Mellon University

Market Design

Course Number: 47880

This is a reading and discussion seminar for graduate students, including PhD, MS, and MBA students. We will read some of the seminal literature in the study of the modern electric power industry. We will begin by reading and discussing portions of Power Loss: The Origins of Deregulation and Restructuring in the American Electric Utility System by Richard F. Hirsh (MIT Press, 2001). After this introduction to both the history and the factors that lead to the modern regulatory and industry structure, we will critically review and discuss important and interesting papers from the contemporary literature that will help develop research directions and sharpen analysis skills.

Degree: PhD
Concentration: Economics
Academic Year: 2019-2020
Semester(s): Mini 4
Required/Elective: Elective
Units: 6

Format

Lecture: 100min/wk and Recitation: 50min/wk

Learning Objectives

Understanding the reasons why electric power was regulated, the failures of that regulation, the pressures that resulted in restructuring, and the good and bad points of the restructured framework.