Introduction and scope of energy economics; basic concepts; energy statistics and energy balances; renewable sources of energy; impact of energy and energy use on the economy, Determinants of energy demand and supply; variability and uncertainty of renewable energy sources; elasticity of energy demand and supply; consumer and producer demand; transition from consumer to prosumer; sectoral composition of demand; alternative approaches to energy demand estimation; complementarity/substitution issues; forecasting energy demand: approaches, tools and techniques, Economic basics for power markets, vertically integrated utilities vs re-structured power markets, demand side aspects, different power generation technologies, costs constraints, market principles and the theory of firm, strategic power supplier behavior (game theory), power purchase agreements and market risks, Organization of wholesale power markets, long term, day ahead, real time market, power market trading, market power mitigation , System reliability, financial transmission rights, Role of stake holders i.e. utility, trading and system operator, Theories of energy regulation; regulatory mechanism and governance, energy policy, policy interplays and trade-offs, Electricity act 2003, the central and state electricity regulatory commissions: objectives and functions; electricity tariff, availability based tariff (ABT), tariff models: open access, renewable purchase obligations (RPO), licensing, trading; central electricity authority, ministry of power, appellate authority, case studies., Models of renewable energy power purchase agreements (RPPAS) at bulk power system and in distribution systems; design considerations for RPPAS; impact of policies and regulations on RPPA design; case studies from India and abroad, Financing of renewable energy projects.