The course applies economic concepts and analysis to understanding the structure and behavior of the global refining and petrochemical industries. The class will use various analytical tools to explore current issues facing the industry such as profitability and investment economics, 21st century global and local supply constraints, optimizing operating economics, impact of changes in relative hydrocarbon values, regulatory impacts, refining unconventional crudes, and alternative transportation fuels.
The course will provide persons interested in operations or planning in the refining and/or petrochemical industries with a sound economic foundation and a head start in those career areas. For those aiming at general management and leadership positions in these industries, the course provides an understanding of industry structure and trends and where value is created and lost. And, those who expect to see refining and/or petrochemical businesses as customers, suppliers, clients, partners, or as investment or trading opportunities will gain understanding of the issues, opportunities and constraints confronting their counterparts in these important industries. Students with a more general interest in applied economics will find the lessons learned from refining and petrochemicals to be broadly applicable to other basic industries as well.