What drives costs? How do customers react to prices? What impacts do subsidies have?
Build your foundation for difficult utility pricing decisions with our new online course “Economics of Pricing.” Learn from experts and exchange experiences and best practices with peers through the latest in internet technology.
The course Economics of Pricing is designed to introduce engineers, lawyers, and other professionals to the conceptual framework for designing price structures in infrastructure industries. When implemented, these rate designs can promote efficiency and financial sustainability. In addition, the course will show how to minimize the efficiency impacts of cross-subsidies when several customers in separated markets are purchasing one or more products from a network. This foundational material will help decision-makers develop rate structures that promote financial sustainability, while encouraging efficiency and fairness.
At the conclusion of the course, you will be able to:
- Outline the principles of microeconomics as they apply to the pricing of infrastructure services
- Explain the economic foundations for prices that promote efficiency, as reflected in consumer valuations and producer opportunity costs
- Contrast pricing in competitive and monopolized markets
- Describe pricing techniques utilized in infrastructure industries, including price discrimination, multi-part pricing, peak-load pricing, and multi-product pricing
- Compare the strengths and limitations of different costing methodologies
- Evaluate the effectiveness of rate structures in achieving corporate and regulatory objectives
Course fee includes:
Program tuition, reading and online classroom material, and consultation regarding classroom material with PURC Faculty.
This course will be delivered entirely online through the University of Florida’s course management system, Sakai. In Sakai, you will access video lectures, course materials, course case study and additional resources. Activities will consist of watching lectures, discussion posts, self -tests and assignments with the PURC eLearning Pricing Case. Instructions on how to access Sakai will be provided once your application is approved and proof of payment is received.
This is NOT a self-paced course. The course will be delivered online over a six week period, October 28 – December 8, 2013. A new learning module will be released every Monday by 12pm Eastern Standard Time. It is recommended that participants complete the module by the following Sunday (one-week). All course work must be completed no later than Friday, December 20, 2013 in order to receive the Certificate of Completion.
A mid-point check-in and concluding session will be delivered live through video conferencing in Sakai (the course site). These sessions will also be recorded for those that are unable to participate. Instructions for the live sessions will be posted and made available to the participants closer to the session dates.
- Internet connection (DSL, LAN, or cable connection desirable)
- Access to course management system, Sakai
- Web-cam and microphone for participating in live sessions (optional)