ELECTRICAL-ELECTRONICS ENGINEERING (MASTER) (WITH THESIS) (ENGLISH)
Qualification Awarded	Program Süresi	Toplam Kredi (AKTS)	Öğretim Şekli	Yeterliliğin Düzeyi ve Öğrenme Alanı
	2	120	FULL TIME	TYÇ, TR-NQF-HE, EQF-LLL, ISCED (2011):Level 7 QF-EHEA:Second Cycle TR-NQF-HE, ISCED (1997-2013): 52

Ders Genel Tanıtım Bilgileri

Course Code:

3026002037

Ders İsmi:

Power System Economics

Ders Yarıyılı:

Spring

Ders Kredileri:

Theoretical	Practical	Labs	Credit	ECTS
3	0	0	3	6

Language of instruction:

Ders Koşulu:

Ders İş Deneyimini Gerektiriyor mu?:

Other Recommended Topics for the Course:

Type of course:

Department Elective

Course Level:

Master

TR-NQF-HE:7. Master`s Degree

QF-EHEA:Second Cycle

EQF-LLL:7. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Prof. Dr. Çağatay ULUIŞIK

Course Lecturer(s):

Course Assistants:

Dersin Amaç ve İçeriği

Course Objectives:

The aim of the course is to give the knowledge of basic enginnering economic analysis in the electricity generation, transmission and distribution sectors, in both investment and operation areas, using the topics in economy and engineering economics

Course Content:

Fundamental economy concepts/ Minimum Acceptable Rate of Return (MARR) / Decision methods for engineering economic analysis (Present Worth Method, Annual Worth Method, Future Worth Method, Payback Period Method, Internal Rate of Return Method, External Rate of Return Method, and Expected Net Present Value) / Minimum cost and maximum revenue / Unit cost calculations of electrical energy (TRL/kWh) / Determination of economic voltage / Analysis of energy losses.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) The students will be able to evaluate various investment projects using the economic parameters
2) The students will be able to apply all economic decision methods in the literature to electric power systems
3) The students will be able to know about the operation conditions under minimum cost and maximum revenue in electricity sector
4) The students will be able to calculate unit energy cost (TRL/kWh) for various power plants
5) The students will be able to realize Lost Energy Analysis related to the economic analysis
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Ders Akış Planı

Week	Subject	Related Preparation
1)	General concepts related to economics 1 - Introduction, Business	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
2)	General concepts related to economics 2 - Depreciation, Interest	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
3)	General concepts related to economics 3 - Financial statements, Production, Cost	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
4)	General concepts related to economics 4 - Inflation, Inventory Models	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
5)	Enginnering Economics Analysis 1	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
6)	Enginnering Economics Analysis 2	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
7)	Economics Analysis in Electrical Energy Generation	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
8)	Midterm exam
9)	Practice or Review	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
10)	Calculation of electricity generation cost of power plants	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
11)	Optimum power dispatch among thermal power plants-1	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
12)	Optimum power dispatch among thermal power plants-2	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
13)	Determination of Economic Voltage	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
14)	Analysis of Energy Losses	Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018. Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002. Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022. The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014. Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.
15)	Final exam

Sources

Course Notes / Textbooks:

Fundamentals of Power System Economics, 2nd Edition, Daniel S. Kirschen, Goran StrBac, WILEY, 2018.
Power System Economics: Designing Markets for Electricty, 1st Edition, Stefen Stoft, WILEY-IEEE PRESS, 2002.
Economics of Power Systems: Fundaments of Sustainable Energy, 1st Edition, (Springer Text of Business and Economics), 2022.
The Economics of Electricity Markets, Darryl R. Biggar, Mohammad Reza Hesamzadeh, WILEY-IEEE Press, 2014.
Economic Market Design and Planning for Electric Power Systems, James A. Momoh, Lamine Mili, WILEY-IEEE Press, 2009.

References:

Ders - Program Öğrenme Kazanım İlişkisi

Ders Öğrenme Kazanımları	1	2	3	4	5
Program Outcomes
1) Through scientific research in the field of Electrical-Electronics Engineering, they expand and deepen their knowledge, evaluate, interpret, and apply the information.
2) They have comprehensive knowledge of the current techniques and methods applied in Electrical-Electronics Engineering, as well as their limitations.
3) Using uncertain, limited, or incomplete data, they complement and apply knowledge through scientific methods; they can integrate information from different disciplines.
4) They are aware of new and emerging applications in Electrical-Electronics Engineering, and when necessary, they investigate and learn about them.
5) They define and formulate Electrical-Electronics Engineering problems, develop methods to solve them, and apply innovative approaches in the solutions.
6) They develop new and/or original ideas and methods; design complex systems or processes and develop innovative/alternative solutions in their designs.
7) They design and apply theoretical, experimental, and modeling-based research; they analyze and solve complex problems encountered during this process.
8) They can work effectively in both interdisciplinary and multidisciplinary teams, lead such teams, and develop solution approaches in complex situations; they can work independently and take responsibility.
9) They communicate effectively in both spoken and written forms using a foreign language at least at the B2 General Level of the European Language Portfolio.
10) They communicate the processes and results of their work in a systematic and clear manner, either in writing or verbally, in national and international contexts, both within and outside their field.
11) They are aware of the social, environmental, health, safety and legal aspects of Electrical and Electronics Engineering applications, project management and business life practices and are aware of the constraints these impose on engineering applications.
12) They observe social, scientific and ethical values in the stages of collecting, interpreting and announcing the data and in all professional activities.

Ders - Öğrenme Kazanımı İlişkisi

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Through scientific research in the field of Electrical-Electronics Engineering, they expand and deepen their knowledge, evaluate, interpret, and apply the information.
2)	They have comprehensive knowledge of the current techniques and methods applied in Electrical-Electronics Engineering, as well as their limitations.
3)	Using uncertain, limited, or incomplete data, they complement and apply knowledge through scientific methods; they can integrate information from different disciplines.
4)	They are aware of new and emerging applications in Electrical-Electronics Engineering, and when necessary, they investigate and learn about them.
5)	They define and formulate Electrical-Electronics Engineering problems, develop methods to solve them, and apply innovative approaches in the solutions.
6)	They develop new and/or original ideas and methods; design complex systems or processes and develop innovative/alternative solutions in their designs.
7)	They design and apply theoretical, experimental, and modeling-based research; they analyze and solve complex problems encountered during this process.
8)	They can work effectively in both interdisciplinary and multidisciplinary teams, lead such teams, and develop solution approaches in complex situations; they can work independently and take responsibility.
9)	They communicate effectively in both spoken and written forms using a foreign language at least at the B2 General Level of the European Language Portfolio.
10)	They communicate the processes and results of their work in a systematic and clear manner, either in writing or verbally, in national and international contexts, both within and outside their field.
11)	They are aware of the social, environmental, health, safety and legal aspects of Electrical and Electronics Engineering applications, project management and business life practices and are aware of the constraints these impose on engineering applications.
12)	They observe social, scientific and ethical values in the stages of collecting, interpreting and announcing the data and in all professional activities.

Öğrenme Etkinliği ve Öğretme Yöntemleri

Alan Çalışması
Bireysel çalışma ve ödevi
Homework
Proje Hazırlama

Ölçme ve Değerlendirme Yöntemleri ve Kriterleri

Yazılı Sınav (Açık uçlu sorular, çoktan seçmeli, doğru yanlış, eşleştirme, boşluk doldurma, sıralama)
Homework
Bireysel Proje

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Project	1	% 30
Midterms	1	% 30
Semester Final Exam	1	% 40
total		% 100
PERCENTAGE OF SEMESTER WORK		% 60
PERCENTAGE OF FINAL WORK		% 40
total		% 100

İş Yükü ve AKTS Kredisi Hesaplaması

Activities	Number of Activities	Duration (Hours)	Workload
Course Hours	14	3	42
Study Hours Out of Class	14	5	70
Project	1	30	30
Homework Assignments	3	15	45
Midterms	1	2	2
Final	1	2	2
Total Workload			191