2025 (Current Year) Faculty Courses School of Environment and Society Department of Technology and Innovation Management Graduate major in Technology and Innovation Management
Energy Market and Risk Management
- Academic unit or major
- Graduate major in Technology and Innovation Management
- Instructor(s)
- Takuji Matsumoto
- Class Format
- Lecture
- Media-enhanced courses
- -
- Day of week/Period
(Classrooms) - unknown
- Class
- -
- Course Code
- TIM.C520
- Number of credits
- 100
- Course offered
- 2025
- Offered quarter
- 4Q
- Syllabus updated
- Jul 18, 2025
- Language
- Japanese
Syllabus
Course overview and goals
This course aims to provide students with a practical understanding of the structure and trading systems of energy markets, as well as price formation mechanisms and risk management strategies. The course begins with an overview of the characteristics of spot and futures markets, followed by a study of the theoretical foundations of price forecasting and risk premiums. Students will then explore case studies on forecasting models in the energy market and modeling techniques for risk management purposes. In the final session, students will present their own case studies to reinforce understanding and develop applied analytical skills.
Course description and aims
Upon completion of the course, students will be able to:
(1) Understand the fundamental structure of energy markets, pricing mechanisms, and the framework for risk management.
(2) Learn how to utilize models related to forecasting and risk management using spot and futures market data.
(3) Develop analytical thinking and the ability to address energy price uncertainty through exercises in case analysis and presentation.
Student learning outcomes
実務経験と講義内容との関連 (又は実践的教育内容)
Drawing on practical experience in data analysis within private-sector companies, the course also covers hands-on analytical techniques.
Keywords
Energy market, spot prices, futures trading, price forecasting models, risk premium
Competencies
- Specialist skills
- Intercultural skills
- Communication skills
- Critical thinking skills
- Practical and/or problem-solving skills
Class flow
Learning will be conducted through lectures and discussions, with practical examples integrated to deepen understanding. In the final session, students will give presentations on case studies.
Course schedule/Objectives
| Course schedule | Objectives | |
|---|---|---|
| Class 1 | Guidance | Understand the course structure, objectives, and the theories and application areas to be covered. |
| Class 2 | Spot Market and Forecasting | Understand the significance of spot market trading and price forecasting. |
| Class 3 | Modeling Case Study (1) | Learn about the construction and application of energy forecasting models. |
| Class 4 | Modeling Case Study (2) | Learn about the construction and application of spot price forecasting models. |
| Class 5 | Futures Market and Risk Premium | Understand the structure of the futures market and the mechanisms of price formation. |
| Class 6 | Modeling Case Study (3) | Learn about modeling approaches for hedging strategies. |
| Class 7 | Student Case Presentations | Present findings from individual case analyses. |
Study advice (preparation and review)
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Textbook(s)
None specified. Distribute lecture slides via LMS.
Reference books, course materials, etc.
Energy and Power Risk Management: New Developments in Modeling, Pricing, and Hedging, by A. Eydeland and K. Wolyniec, John Wiley & Sons
Evaluation methods and criteria
Grades will be based on participation in lectures and exercises (50%) and submitted reports (50%).
Related courses
- TIM.A418 ： Financial Engineering
Prerequisites
None