PETE414 INTERNATIONAL PETROLEUM ECON. &POLITIC
| Course Code: | 5660414 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 5.0 |
| Department: | Petroleum and Natural Gas Engineering |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Lecturer ŞAHİN YAMAN |
| Offered Semester: | Fall Semesters. |
Course Objectives
- Evaluation structure of the oil market. Exploration, developmentş production and economic aspects.
- Evaluation of the fiscal regime of oil.
- History of the Petroleum Industry.
Course Content
Review of petroleum industry from l859 when it was discovered by Drake in Pennsylvania, USA, up to and including early 1980`s when the world economic structure survived the `second oil price shock.` Role of oil in international economics and politics, its vital importance in the Middle East and North Africa for the Western and Eastern economical and political systems. Economical and political results of developments. A brief survey of the structure of oil market.
Course Learning Outcomes
- Students will be able to understand of the fundamental concepts of petroleum industry.
- Students will learn the impact of oil crisis on the oil industry.,
- Students will be able to analyze the reasons for the changes of the oil prices.
- Students will make presentation of the outcomes of their team works on the given topics.
Program Outcomes Matrix
| Contribution | |||||
| # | Program Outcomes | No | Yes | ||
| 1 | An ability to identify, formulate, and solve complex engineering problems by applying principles of engineering, science, and mathematics | ✔ | |||
| 2 | An ability to apply engineering design to produce solutions that meet specified needs with consideration of public health, safety, and welfare, as well as global, cultural, social, environmental, and economic factors | ✔ | |||
| 3 | An ability to communicate effectively with a range of audiences | ✔ | |||
| 4 | An ability to recognize ethical and professional responsibilities in engineering situations and make informed judgements, which must consider the impact of engineering solutions in global, economic, environmental, and societal contexts | ✔ | |||
| 5 | An ability to function effectively on a team whose members together provide leadership, create a collaborative and inclusive environment, establish goals, plan tasks, and meet objectives | ✔ | |||
| 6 | An ability to develop and conduct appropriate experimentation, analyze and interpret data, and use engineering judgment to draw conclusions | ✔ | |||
| 7 | An ability to acquire and apply new knowledge as needed, using appropriate learning strategies | ✔ | |||