The outcomes of the course is to

(i) learn the classical stochastic models for commodity and energy markets

(ii) to establish forward prices based on factor models in the spot market

(iii) learn to estimate and simulate the models, and apply these in different markets, like the market for weather derivatives

(iv) to understand important notions as pricing measure, market price of risk and the risk premium

(v) to analyze and price important derivatives in commodity and energy market.