Gestión Académica

Universidad de Oviedo

Uniovi.es | Inicio | Buscador | Mapa Web

| |

Máster Universitario en Conversión de Energía Eléctrica y Sistemas de Potencia
MCEESP02-2-004
Análisis Económico Financiero
Descripción General y Horario Guía Docente

Coordinador/es:

Pablo Arboleya Arboleya
arboleyapablouniovi.es

Profesorado:

Pablo Arboleya Arboleya
arboleyapablouniovi.es
(English Group)

Contextualización:

The Master’s course:

 

The main goal of the Master’s Degree in “Electrical Energy Conversion and Power Systems” (EECPS Master) is the training of qualified staff in areas related to electrical energy management, emphasizing in power systems for renewable energies. The Master presents a double approach: scientific and professional. In the scientific thread, training focuses on the design of two main applications: Electrical Power Systems and Electrical and Hybrid Traction Systems. On the other hand, in the professional thread, training is focused on the management of electrical energy. Thus, the subjects of this thread have been designed attending to two main issues, such as the management of energy in large consumers and the generation and transmission of electrical energy in a liberalized market. Three main lines have been considered as keystones in the Master:

 

·       Electrical Power Systems

·       Electrical and Hybrid Vehicles

·       Energy Efficiency and Renewable Energies

 

The third semester (Technical-Economic-Management track):

 

This subject belongs to the third semester in the specialization stage (Technical-Economic-Management track), This track is focused on the acquisition of the required competences for the management of electric energy, with a special emphasis on energy efficiency and renewable energies.

 

The subject: 

 

The subject is focused in the financial analysis of investment projects in renewable and conventional energies. The student will be able to manage investment projects in renewable and conventional energies. Fundamentals of accounting, valuation and financing will be studied.

Requisitos:

It is a subject of the specialization stage; the student should handle the concepts expressed in the next subjects:

 

·       Power plants (Semester 1)

·       Electrical energy transport (Semester 1)

·       Power systems operation (Semester 1)

·       Distributed generation systems and power quality (Semester 2) 

Competencias y resultados de aprendizaje:

Basic Competences:

 

·       Be original in the development and application of ideas, within a research environment. (CB6)

·       Solution of problem in new and unfamiliar multidisciplinary environments, related to its knowledge area. (CB7)

·       Integration of knowledge, facing the complexity of issuing judgments and sentences parting from some information that includes ethic and social liability constraints. (CB8)

·       Ability of communicating justified decisions and conclusions, to specialized and unspecialized listeners. (CB9)

·       Ability of autonomous learning. (CB10)

 

Generic Competences:

 

·       Writing, communicating and presenting scientific documents to specialists, within the scope of the contents of the Master Degree (electric power systems, hybrid and electrical vehicles and renewable energies) (CG1)

·       Use of computers and digital processors in the analysis, design, simulation, monitoring, control and supervision of power systems. (CG4)

·       Technical design aspects that depend on strategic, socio-politic, economic and environmental concerns  (DG8)

·       Skills related to teamwork, recognizing different roles within a group and different ways of organizing research teams. (CG9)

·       Ability to manage information: search, analysis and synthesis of the specific technical information. (CG10)

·       Ability to assimilate and communicate information in English concerning technical (CG11)

·       Ability to plan and organize work (CG12)

·       Skills for critical reasoning, making decisions and making judgments based on information that include reflecting on social and ethical responsibilities of professional activity (CG13)

·       Concern forquality and achievement motivation (CG14)

 

Specific Competences:

 

·       Financial analysis of investment projects in renewable and conventional energies (CE31)

·       Critical and active management of investment projects in renewable and conventional energies (CE32)

 

Learning Outcomes:

 

·       To explain and discuss the main macroeconomic variables involved in the Spanish and European energy sectors.  (RA102)

·       To define the economic structure of the energy market. (RA103)

·       To analyze, from the economic point of view, the value chain in different energy businesses. (RA104)

·       To analyze the operation if the Iberian electricity market and assess its relationship with energy transport capacity on the interconnections.  (RA105)

·       To recognize the main features of the rules on accounting.  (RA106)

·       To define and differentiate the main issues and investment-related business strategies, financing, risk management and taxation in the energy markets.  (RA107)

Contenidos:

 

 

Topic 1: Fundamentals of accounting

 

  • Accounting: The Language of Business
  • Measuring Income to Assess Performance
  • Accrual Accounting and Financial Statements
  • Financial Statement Analysis

 

Topic 2: Valuation 

 

  • Fundamentals of valuation
  • Valuation methodologies. Discounted Cash Flow (DCF) valuation
  • Case study: valuing a wind farm project

 

Topic 3: Financing

 

  • Different types of financing options
  • Project Finance
  • Financial Model: Case study

Metodología y plan de trabajo:

As it can be observed in the next table, the numbers of hours assigned to this course are divided in “In-class work” and “homework”. Among the “in-class work” hours are divided in lectures, seminars, and group tutoring and evaluation sessions. Professor will use these hours to expound the theoretical basis of the subject. However, active learning methods such as “class discussions”, “think-pare-share”, “short written exercises“ or ”student debates” will be applied in order to keep an active attitude.  Concepts stated in lectures must be applied to solve different types of problems in seminars.  The group tutoring sessions will be used to discuss about the theoretical concepts explained in lectures or their application seminars.

 

 

 

Presential work

Non-Presential work

 

Themes

Total hours

Lectures

Seminars

Laboratory practice / field / computer / language

Clinic practice

Group Tutoring

internships

Evaluation Sessions

Total

Group work

Autonomous Work

Total

Fundamentals of accounting

22,5

1

5

0

0

1

0

0,5

7,5

0

15

15

Valuation

22,5

1

5

0

1

0,5

7,5

0

15

15

Financing

22,5

0

5

0

1,5

1

7,5

0

15

15

Total

67,5

2

15

0

0

3,5

0

2

22,5

0

45

45

 

MODES

Hours

%

Total

Presential

Lectures

2,0

3,0

22,5

Class practice / Seminars

15,0

22,2

Laboratory practice / field / computer / languages

0,0

0,0

Clinic practice

0,0

0,0

Group tutoring

3,5

5,2

Internships (in external companies or institutions)

0,0

0,0

Evaluation sessions

2,0

3,0

Non-presential

Group work

0,0

0,0

45,0

Autonomous work

45,0

66,7

 

Total

67,5

 

 

 

Exceptionally, in the event that health conditions require it, non-attendance teaching activities may be included. In this case, students will be informed of the changes made.

Evaluación del aprendizaje de los estudiantes:

The professor will assign each student a general topic that must be developed in a written work. The evaluation of such work will count a maximum of 40%. Each student must present this work in an oral session; such session will count a maximum of 40%.  Other observation techniques like logs, check lists, attendance activities will count a maximum of 40% of the final grade. Late homework will not generally be accepted. 

Exceptionally, in the event that health conditions require it, non-presential evaluation methods may be included. In this case, the student body will be informed of the changes made.

Recursos, bibliografía y documentación:

·            Horngren, Sundem, Elliott & Philbrick - "Introduction to Financial Accounting", 2011, Prentice-Hall,

·            Brealey, Richard and Myers, Stewart - "Principles of Corporate Finance", 2011, McGraw-Hill, 10e

·            Elliot, Barry and Elliot, Jamie - "Financial Accounting and Reporting", 2011, Prentice Hall, 14/e

·            International Financial Reporting Standards, IASB