Energy Trading

Module: Energy Trading (6 Credits)
Name in diploma supplement	Energy Trading
Responsible	Prof. Dr. Rüdiger Kiesel
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 Master > Pflichtbereich > 1.-2. Sem, Compulsory EnergySc Master > Fortgeschrittene Energiewissenschaft > 1. Sem, Elective LA gbF/kbF BK Master > Masterprüfung in der großen beruflichen Fachrichtung > Wahlpflichtbereich BWL, VWL, Recht, Statistik > Bereich BWL > 1.-3. Sem, Elective VWL Master > Wahlpflichtbereich II > 1.-3. Sem, Elective WiMathe Master > VWL-Energie > 1.-4. Sem, Elective
Elements	Lecture Energy Trading (3 Credits) Exercise Energy Trading (3 Credits)
Module: Energy Trading (WIWI‑M0678)

Lecture: Energy Trading (3 Credits)
Name in diploma supplement	Lecture Energy Trading
Organisational Unit	Lehrstuhl für Energiehandel und Finanzdienstleistungen
Lecturers	Prof. Dr. Rüdiger Kiesel
Hours per week	2	Language	English
Cycle	winter semester	Participants at most	###LABEL_NOLIMIT###
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 Principles of energy spot – and forward markets Futures, forwards and swaps Mathematical models for energy markets and energy price processes 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
Lecture: Energy Trading (WIWI‑C0831)

Exercise: Energy Trading (3 Credits)
Name in diploma supplement	Exercises Energy Trading
Organisational Unit	Lehrstuhl für Energiehandel und Finanzdienstleistungen
Lecturers	Prof. Dr. Rüdiger Kiesel
Hours per week	2	Language	English
Cycle	winter semester	Participants at most	###LABEL_NOLIMIT###
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
Exercise: Energy Trading (WIWI‑C0832)