The Executive Masters Program is a one-year (280-hour) program addressing multidisciplinary core areas in energy systems, including: - Economics, management science and policy
- Environmental analysis and assessment
- Energy systems
- Energy technologies
The executive Masters corresponds to an Advanced Studies Program in the Technical University post-graduation system (the graduate is awarded a Bologna 3rd Cycle certificate). Each student in the Executive Masters Program creates a unique curriculum to fulfill her/his individual interests. Guided by a faculty member, the student is allowed to choose from a pool of optional courses (O) in order to complete 48 to 60 credits (ECTS). Course DescriptionIntroduction to Economics1st Semester, Optional, 6 ECTS
Lecturer: Isabel Mendes – Assistant Professor, Dept. Economics, ISEG/UTL Main topics - Introduction
- Consumer theory
- Business theory
- Markets
- General equilibrium
Learning outcomes This course aims to provide a solid foundation in microeconomics to those students whose background is not extensive in economics or business administration. Since most students will have taken introductory courses in these subjects, this program expands on previous knowledge through exposure to key economic theories as well as the mathematical and graphic application of economic theories.
Introduction to Engineering1st Semester, Optional, 6 ECTS
Lecturer: Carlos Silva - Assistant Professor, Dept. Mechanical Engineering, IST/UTL Main topics - Energy and power
- Different kinds of energy
- Units
- Energy sources
- Electrical energy
- Electric charge and electric current
- Electric and magnetic fields
- Law of induction
- How does an electrical generator work
- Fundamental principles of thermodynamics
- Introduction to thermodynamical cycles
- Thermal equipment
Learning outcomes With this course, students gain substantive knowledge of the following topics: types, units, and sources of energy; electrical energy; electrical charge and chain; electric and magnetic fields; the general law of induction; electrical generation equipment; the main laws of thermodynamics; an introduction to thermodynamic cycles; thermal equipment; the main laws of mechanics; an introduction to cinematic and dynamic mechanical systems; definition of systems; and modulation, identification and systems control.
Economics of Natural Resources and the Environment1st Semester, Optional, 6 ECTS
Lecturer: Manuel Pacheco Coelho - Assistant Professor, Dept. Economics, ISEG/UTL Main topics - The economy of natural resources
- Basic model for the management of a renewable resource
- Model dynamics and optimum control
- The ‘tragedy of commons’ and the problem of property rights
- Biodiversity and the risk of species extinction
- Hoteling rule and the optimum management of non-renewable resources
- Environmental Economics
- Externalities and the ‘anatomy of the failed market’
- Valorization of environmental goods
- Economy of the pollution
- Uncertainty, irreversibility and precaution
- Case studies
Learning outcomes This course focuses on the problems of natural resources management. Students learn to determine and substantiate the criteria that must be met to optimize resource use; explain the agent behaviors regarding the production and use of resources accounting for different market structures; establish representative behavior typologies regarding different institutional frameworks; and identify the politics and institutional frameworks that promote the efficient management of resources.
Econometrics1st Semester, Optional, 6 ECTS
Lecturer: Isabel Proença - Assistant Professor, Dept. Mathematics, ISEG/UTL Main topics - Introduction to econometrics
- The Linear Regression Model
- Functional Form Misspecification
- Heteroskedasticity and Autocorrelation
- Univariate Time Series Models
- Multivariate Time Series Models
- Models based on Panel Data
Learning outcomes
This course aims to introduce the main concepts and techniques of econometrics. It addresses the theoretical foundations of econometrics and, simultaneously, provides tools to correctly conduct empirical studies with economic data on energy problems. Applications with cross-section, time-series and panel data will be considered.
Energy Systems Economics and Modeling1st Semester, Optional, 6 ECTS
Lecturer: Carlos Silva – Assistant Professor, Dept. Engineering, IST/UTL
Álvaro Martins – Full Professor, Dept. Economics, ISEG/UTL Main topics - Introduction to Energy Economics
- Energy Demand
- Energy Supply
- The coal, oil and natural gas markets
- Electricity
- Energy and the Environment
- Fuels and Technologies for the Future
- The TIMES model
Learning outcomes
This course intends to introduce to the students the main concepts that will be necessary to do integrated assessments of the energy sector and its relations with the environment in what gaseous emissions are concerned.
This course discusses energy demand and supply, the energy markets, price formation, the Reference Energy Systems adequate for modeling, the economics of the main technologies. Policies that influence the energy sector and emissions, such as taxes, regulation, feed-in-tariffs and green certificates will be discussed as well as models to assist decision makers.
Risk Management2nd Semester, Optional, 6 ECTS
Lecturer: Professor Carlos Pereira da Silva - Assistant Professor, Dept. Management, ISEG/UTL
Main topics - International energy markets in a financial perspective: risk exposure, futures, futures curves and their implications for hedgers.
- Risk models for the energy markets: behavior of the futures curve, the volatility of the energy prices, the volatility and the risks inherent to futures options.
- The derivatives as a model for securing energy risk: risk and tolerance, determinants for derivatives structure, comparing OTC and NIMEX, financial instruments in the energy sector.
- Managing the risk associated with credit: risk profile elaboration, fiscal systems and risk management, assessing the risk of nations.
- Managing operational risk: definition and determinants of operational risk, management of supply risk, contractual strategies, management of accidents, measuring operational risks.
- Managing the risk associated with pollutant gas emissions: market analysis, risk determinants, securing emission risks.
Learning outcomes Risk management in the energy sector is increasingly relevant. Students will consider the uncertainty factors prevailing at an international level, with an emphasis on the political instability in critical fuel supply regions, the level of fossil fuel reserves, and the sophistication of the energy markets. They will develop an integrated understanding of the risk implicit in decision making.
Energy, Environment and Sustainability1st Semester, Optional, 6 ECTS
Lecturer: Eduardo Oliveira Fernandes - Full Professor, Dept. Mechanical Engineering and Industrial Management, FEUP Program topics - Overall energy resource assessment
- Overview of energy use
- Sustainability, energy and clean technologies, in context
- International efforts and its response issues
- LCA principles and tools; analysis of LCA conducted for different energy conversion technologies
- LCA of energy systems, environmental implications of systems integration
- Energy supply and use
- Energy efficient technologies
- Design of sample sustainable energy systems
Learning outcomes To develop students’ background knowledge on critical issues such sustainability, environment and energy in order to make them more comfortable when dealing with more specific themes related to energy conversion, use and management. The emphasis is on a systems approach.
Energy in Transportation1st Semester, Optional, 4.5 ECTS
Lecturer: Tiago Farias, Associate Professor, Dept. Mechanical Engineering, IST/UTL Main topics - The role of transports in the global energy and environment problem
- Propulsion systems and fuels used in road transportation
- Pollutant emission in road vehicles
- Environmental rules: past, present and future
- Processes of pollutant reduction and control.
- Numerical models for estimating fuel consumption and pollutant emissions from transportation vehicles
- Propulsion systems and fuels used in rail transportation systems
- Propulsion systems and fuels used in water transportation systems
- Propulsion systems and fuels used in air transportation systems
- Alternative propulsion and fuels in transportation
Learning outcomes The student will be able to assimilate new information regarding propulsion systems, formation of pollutant emissions, control and reduction of emissions, as well as available software used to estimate the environmental performance of different types of transportations vehicles in each of the different sectors (road, rail, water and air). New technologies, alternative fuelled vehicles, new propulsion systems including hybrids, plug ins, fuel cells and hydrogen are also addressed. Well to Wheel analysis concerning new energy solution is addressed.
Energy Management1st Semester, Optional, 4.5 ECTS
Lecturer: Prof. Miguel Águas, Associate Professor, Dept. Mechanical Engineering, IST/UTL Main topics - Primary energy sources and energy prices
- Energy demand: analysis of the energy demand in different economic sectors
- Primary energy and final energy: the concept of toe as the basic unit of primary energy
- the hydrogen economy: the role of hydrogen as an energy vector, and its technological implications
- Energy intensity and its environmental consequences
- The carbon markets
- Analytical modeling complex energy systems, making use of:
- Block diagrams for unit process representation, complex system modeling making use of block diagrams in series, in parallel and feed-back systems
- Energy input-output tables: the facility of modeling complex systems including feedback and recycling
- Implementation of analytical models to different case studies. Methodologies for conducting energy audits and for establishing energy optimization plans. Optimal use of energy in:
- Gas, coal, electric and liquid fuels boilers: proper use of steam for energy transfer, steam distribution and maintenance
- Lightning: illumination requirements, recommended levels of light availability, types of light sources
- Thermal insulation design
- Heat pumps
- Systems integration for promoting the most rational use of energy: cogeneration and equipment integration
- The use of hydrogen as an energy vector; fuel cells.
Learning outcomes To provide the Mechanical Engineer with the knowledge and the tools required to understand and model the energy fluxes in industrial systems, buildings or complex equipment, in order to make him capable of optimizing energy use, as well as quantifying the environmental and economic benefits associated to these actions.
Seminar I2nd Semester, Optional, 3 ECTS Lecturer: invited speakers from all participant universities, including MIT Main topics - Research methodologies
- Urban metabolism
- Multiobjective scenarios
- Shell on the long-term prospects for fossil fuels
- European energy planning and regulations
- Industrial ecology
- Climate change economics
Learning outcomes Through seminars given by invited speakers, students will be introduced to topics that are a complement to their studies, as well as information about other research centers’ R&D projects and projects that are being developed by industry.
Regulation Theory2nd Semester, Optional, 6 ECTS
Lecturer: Filomena Garcia (Assistant Professor, Dept. Management, ISEG/UTL ) Main topics Economic regulation - Regulation of the natural monopolies
- Sector regulation
- Auctions and public companies
- Deregulation
- Regulatory systems
- Regulation by profit taxes and price cap
- Ramsey prices and peak-load pricing
- Principles of the regulatory activity
Organization and regulation of the energy sector - Liberalization of the energy markets
- Determinants and implications of market structures
- Models of organization and strategies of market operators
- Liberalization and new sector economic regulation
- Regional markets: an intermediate step between national and unique electricity markets
- MIBEL:
- Institutional framework
- Market dynamics
- Restructuring of the economic agents and its implications in regulation
- Future trends in energy markets
Learning outcomes Several activities that are essential to life in society are subject to formal regulation. This is the case, for example, of telecommunications, electricity and natural gas distribution, transportation, and water treatment and supply. With this course, students will understand the theory of economic regulation as well as the optimum regulatory theories that are analyzed within the framework of the nature of the regulated companies. Some case studies of the energy and environmental sectors will be analyzed.
Ecological Economics2nd Semester, Optional, 6 ECTS
Lecturer: Tiago Domingos - Assistant Professor, Dept. Mechanical Engineering, IST/UTL Main topics Ecological Microeconomics - The allocation system; the hypotheses of economic modeling: rational economic behavior; analysis of indifference curves; budget constraints; individual demand curve; consumer surplus; market demand; interaction between supply and demand
- Leontieff production function; input-output matrices and graph theory; ‘embodiment’ analysis
- Criticisms of the neoclassical models of the consumer (lexicographic preferences; marketing; experimental economics; other sources of utility) and the producer (management; transaction size; firm size)
- Institutional and evolutionary economics; game theory; social traps; ‘prisoners’ dilemma
Valuation - Economic valuation market prices: implicit market techniques; built market techniques; ecological valuation: ecosystem services; systems energy analysis; life cycle assessment; energy; ecological footprint; MIPS
Ecological Macroeconomics - Complementarity vs. substitutability of natural and built capital; sustainability criteria
- National accounting systems; social welfare; Index of Sustainable Economic Welfare; Index of Human Development
- Discount; intertemporal efficiency conditions; growth theory; dynamic constrained optimization; Environmental Kuznets Hypothesis; economic growth with environmental constraints
Learning outcomes Understand an integrated approach to environmental and sustainable development problems, integrating a biophysical analysis based on the laws of thermodynamics and on ecological science, using the tools of economic analysis.
Renewable Energy and Resources2nd Semester, Optional, 6 ECTS
Lecturer: António Sarmento - Associate Professor, Dept. Mechanical Engineering, IST/UTL Main topics - Renewable energy resources: solar energy, hydro energy, wind energy, ocean energy (tidal and waves), geothermal energy
- Origin and physical characterization
- Geographical distribution
- Time variation and seasonal distribution
- Statistical characterization
Learning outcomes The problem of sustainable energy, as it relates to the increasing scarcity of fossil fuels and climatic changes resulting from their combustion, has heightened interest in the use of the renewable energies. With this course, students will be able to characterize renewable energy resources, especially solar energy, hydro energy, wind energy, energy from the oceans and geothermal energy, from the points of view of their origin, quantification and geographic distribution, time variation and statistical characterization.
Optimization of Energy Systems2nd Semester, Optional, 6 ECTS
Lecturer: Carlos Silva - Assistant Professor, Dept. Mechanical Engineering, IST/UTL
João Sousa (Associated Professor, Dept. Mechanical Engineering, IST/UTL) Main topics - Optimization problems
- Unconstrained optimization; gradient-based methods; constrained optimization
- Linear programming; quadratic programming; nonlinear programming; sequential quadratic programming
- Dynamic programming; Integer programming; branch-and-bound algorithms
- Convex and non-convex optimization
- Distributed optimization; distributed dynamic programming; synchronous and asynchronous methods
- Gradient-based distributed optimization; parallel search algorithms; multidimensional distributed optimization
- Introduction to meta-heuristics; taboo search; genetic algorithms; swarm optimization; biologically inspired meta-heuristics: ant colony optimization and swarm wasps optimization; implementation in distributed problems
- Applications of energy optimization
Learning outcomes The main objective is to supply the students with the basics of optimization systems. Students learn how to formulate typical optimization problems, especially in the energy field. Beyond traditional techniques, meta-heuristics will also be addressed, including the very recent meta-heuristics inspired in biologic agents.
Energy Systems Integration2nd Semester, Optional, 6 ECTS
Lecturer: Mário Costa - Associated Professor, Dept. Mechanical Engineering, IST/UTL Main topics - Methods for local energy demand characterization
- Methods for energy supply characterization
- Methods for local energy demand forecasting
- Characterization of main energy technologies (cooling, electricity and heat)
- Methods and tools for energy systems integration
- Micro-generation, cogeneration and trigeneration
- Laws and regulations for local energy production
- Optimization of integrated energy systems
Learning outcomes The main objective consists of the analysis of intelligent energy systems, through the integration of different energy technologies, for the three main energy vectors: cooling, electricity and heat. Students should acquire knowledge in energy systems design, with special emphasis on technology and technologic solutions integration, including micro-generation, cogeneration and tri-generation, considering the laws and regulations for local energy production.
Nuclear Energy2nd Semester, Optional, 6 ECTS
Lecturer: Carlos Varandas - Full Professor, Dept. Physics, IST/UTL Main topics - Introduction: fission and fusion nuclear reactions; advantages of nuclear energy
- Conventional Nuclear Energy: problems with the conventional nuclear energy; evolution of the conventional nuclear fission power plants
- Nuclear Fusion: introduction; types of confinement; evolution and perspectives of R&D; advantages of nuclear fusion; economic and sociological aspects of the safety and the environmental impact of nuclear energy
Learning outcomes Students will learn the basis for an economic and sociological analysis of nuclear energy, taking into account the environmental and safety aspects of the evolution of R&D activities. Particular emphasis will be put on nuclear fusion, a new clean technology that is safe, presents almost unlimited resources, and is economically attractive.
Projects Evaluation and Externalities2nd Semester, Optional, 6 ECTS
Lecturer: Muradali Ibrahimo, Assistant Professor, Dept. Economics, ISEG/UTL
Elsa Fontainha, Assistant Professor, Dept. Economics, ISEG/UTL Main topics - Introduction to project evaluation
- Project evaluation techniques
- Economical analysis of projects
- Analysis of the impacts of projects externalities
- Risk assessment in project evaluation
- Case studies in the energy sector
Learning outcomes This course provides students with investment project evaluation techniques and the calculation of relevant externalities for decision making. Theoretical formulations will be provided, together with the analysis of case studies, including financial and economic aspects, impact and risk assessment. The energy sector will be used as a reference.
Energy in Buildings2nd Semester, Optional, 6 ECTS
Lecturer: Vítor Leal - Invited Assistant Professor, Dept. Mechanical Engineering and Industrial Management, FEUP Main topics - Introduction: The buildings sector in the energy system. Buildings as clusters of spaces and as thermal systems. Energy uses in building. Trends and policies concerning energy in buildings.
- Indoor Environment: Factors that characterize the indoor environment. Conditions for thermal comfort Issues of indoor air quality. Issues regarding visual comfort and noise.
- Thermal balance of buildings: Global overview of the thermal balance of a building. Loads due to air change (infiltration, ventilation). Internal gains. Heat transmission through the envelop. Solar gains. Climatic data.
- Simulation tools: Overview the main physical and mathematical models. Modeling issues: geometry and zoning, materials and constructions, internal gains, operation controls, weather, HVAC systems, special topics. Example software (ESP-r, Energyplus).
- Bioclimatic strategies: Interaction between the building and local natural resources. Building shape and natural shading devices. Effect of thermal mass and natural ventilation. Low-energy cooling systems.
- Lighting and other electricity uses: Day lighting and artificial lighting technologies and design guidelines. Other equipment that consumes electricity. Management possibilities.
- HVAC Equipment: Overview of the basic structure of HVAC systems. HVAC systems classification. Main components. Pre-design and design strategies. Control strategies and running optimization.
- Energy Audits: Benefits of energy management. The different audit approaches (pre-inspection, inspection and generic audit). Energy balance (bill-based). Building Energy Breakdown. Identification of the highest consumer equipment. Zoning of the energy plants and distribution (if needed). Simplified physical model of the building/system. Detailed model. Evaluation of Energy Conservation Measures.
- Integration of renewables in buildings: Demand-resource matching. Issues involving thermal energy–water. Issues of thermal energy–ambient heating and cooling. Issues of electricity production.
- Non-technical strategies to achieve energy-efficient buildings: Regulations. Voluntary schemes. Overview of the framework of European and Portuguese regulations. The EPBD. The SCE, RSECE and RCCTE.
Learning outcomes Students will become familiar with the concepts related to the thermal balance, energy use and energy efficiency of buildings; understand the methods for evaluating the energy demand of buildings and the planning process to achieve efficient solutions; become able to perform energy simulation and assessment of simple buildings; understand the main technologies of heating, ventilation, air conditioning and lighting in buildings; learn the methodology, phases and expected outputs of energy audits in existing buildings; and become aware of the non-technical issues influencing the energy performance of buildings.
Seminar II2nd Semester, Optional, 3 ECTS Lecturer: invited speakers from all participant universities, including MIT Main topics - European strategy for energy and climate change
- Market Transformation towards energy efficiency
- Improving distribution system reliability by adopting hierarchical active management strategies for dispersed generation
- Microgrids and responsive loads
Learning outcomes Through seminars given by invited speakers, students will be introduced to topics that are a complement to their studies, as well as information about other research centers’ R&D projects and projects that are being developed by industry.
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