Operations Research in Energy Economics (ECM-02)
Operations Research in Energy Economics
Qualitative and quantitative methods of management science/Operational Research are gaining ever higher importance in the energy sector e.g. optimization problems play a prominent role in energy economics, considering for example development of power plant fleets, development of grids and the usage of power plants. Students learn about the background of forecasting methods and optimization as mathematical tool for analysing power systems. They are able to formulate mathematical models and to apply optimization methods, e.g. linear programming.
Within module ECM-02 the students also apply the knowledge and competencies gained in economics and business strategy gained so far. Within required elective courses the students deepen and expand their capabilities when implementing a revised business strategy and experience the impact on an enterprise as a whole or when analysing and further developing energy management solutions in industry.