Empirical Research in Energy Markets

What it is about

You learn methods of empirical research focusing on energy markets: regression models, endogeneity problems and solutions, principal component analysis, and data preparation. In the end you can apply these statistical methods together and implement them practically in R to plan, conduct, and evaluate your own studies.

What you will be able to do

• Understand and critically assess empirical research works
• Recognize endogeneity problems and apply appropriate remedies (e.g., instrumental variables)
• Apply multiple regression and multivariate models confidently
• Carry out and interpret principal component analysis
• Preprocess and transform data for empirical analyses
• Implement methods practically in R and evaluate suitable R packages
• Present results in writing and use them for your own project or master's theses

What the module consists of

• VorlesungConveying theoretical foundations and interactive elements; derivation of statistical results on the whiteboard
• Praktische Übungen in RApplying the methods to raw data sets including preprocessing and transformation
• SelbststudiumDeepening through recommended literature and independent engagement with studies from the Energy Markets
• Mid‑term ÜbungenPractical tasks in R applying the learned methods; possibility of a bonus to the final grade

Teaching method

• Präsentation mit interaktiven ElementenIntroduction to concepts and integration of students' prior knowledge
• Whiteboard‑HerleitungenFostering understanding of statistical derivations and formulas
• Praktische Computerübungen in RApplication of methods to real datasets from raw data to analysis process
• Selbststudium mit Literatur und BeispielenDeepening and overview of relevant empirical research findings