Petroleum Economics & Management Course | IIT Kharagpur | Prof. Anwesha Aditya
Course Details
| Exam Registration | 53 |
|---|---|
| Course Status | Ongoing |
| Course Type | Elective |
| Language | English |
| Duration | 12 weeks |
| Categories | Humanities and Social Sciences |
| Credit Points | 3 |
| Level | Undergraduate/Postgraduate |
| Start Date | 19 Jan 2026 |
| End Date | 10 Apr 2026 |
| Enrollment Ends | 02 Feb 2026 |
| Exam Registration Ends | 20 Feb 2026 |
| Exam Date | 26 Apr 2026 IST |
| NCrF Level | 4.5 — 8.0 |
Unlock the Dynamics of the Global Oil Market: A Guide to the Petroleum Economics and Management Course
The global petroleum industry is a complex web of geopolitics, economics, and strategic management, influencing everything from national economies to everyday life. For professionals, students, and enthusiasts seeking to decode this critical sector, the Petroleum Economics and Management course offered by the prestigious Indian Institute of Technology (IIT) Kharagpur is an unparalleled opportunity. This 12-week deep dive, led by an acclaimed expert, provides the analytical toolkit needed to understand the forces shaping the world's most vital commodity.
Your Expert Guide: Prof. Anwesha Aditya
This course is meticulously designed and delivered by Prof. Anwesha Aditya, an Assistant Professor in the Department of Humanities & Social Sciences at IIT Kharagpur. With a PhD in Economics and the prestigious EXIM Bank’s International Economic Research Annual Award to her name, Prof. Aditya brings a rich blend of academic rigor and practical insight. Her research expertise in International Economics, Global Value Chains, and Development Economics, combined with years of teaching engineering students at IIT Kharagpur and the Indian Institute of Petroleum and Energy (IIPE), ensures the content is both theoretically sound and industry-relevant.
Who Should Enroll in This Course?
This course is meticulously designed for a diverse audience:
- Students (UG/PG): From economics, engineering (petroleum, chemical, geology), and management streams.
- Industry Professionals: Working in oil & gas companies (like ONGC, IOC), mining, consulting, analytics, and finance.
- Aspirants for Competitive Exams: Especially valuable for UPSC candidates covering the economy and international relations.
- Any curious mind eager to understand the economic and geopolitical underpinnings of global energy markets.
Course Overview: A 12-Week Journey into Energy Economics
Structured over 12 intensive weeks, the course builds from foundational concepts to advanced strategic analysis of the petroleum sector.
Detailed Course Layout
| Week | Key Topics Covered |
|---|---|
| Week 1-3 | Introduction to oil's role, sustainability, and core microeconomic principles (demand-supply, elasticity, welfare analysis, government policies). |
| Week 4 | Historical and recent oil price movements, including the impact of Covid-19 and the Russia-Ukraine War. |
| Week 5-6 | In-depth study of OPEC's structure as a cartel, the role of Saudi Arabia, and the economics of petroleum as a depleting resource. |
| Week 7 | Resource discovery dynamics, the 'Resource Curse', Dutch Disease, and real-world country case studies. |
| Week 8-10 | Analysis of oligopoly markets, introduction to Game Theory (Prisoner's Dilemma, Nash Equilibrium), collusive models, and Hotelling's Rule for resource allocation. |
| Week 11-12 | Models of economic growth with resources, and the critical link between oil price shocks, exchange rates, fiscal/trade policies, with a focus on India's Balance of Payments. |
Key Learning Outcomes
By completing this course, you will be able to:
- Analyze the global oil market using core microeconomic tools.
- Decode the strategic behavior of key players like OPEC and major nations.
- Understand the pricing mechanisms and the impact of geopolitical events on oil volatility.
- Evaluate the economic challenges of resource management, including the Resource Curse.
- Apply game theory concepts to model competition and collusion in energy markets.
- Assess the macroeconomic implications of oil shocks on trade and exchange rate policies.
Essential Reading Materials
The course curriculum is supported by seminal texts, including:
- Petroleum Economics: Issues and Strategies of Oil and Natural Gas Production by Rognvaldur Hannesson
- Price of Oil by Roberto M. Aguilera and Marian Radetzki
- Standard microeconomics texts by Pindyck & Rubinfeld and Jeffrey Perloff
- Specialized readings on India's economic policies related to trade and exchange rates.
Whether you aim to advance your career in the energy sector, prepare for competitive examinations, or simply gain a sophisticated understanding of one of the world's most influential industries, this Petroleum Economics and Management course from IIT Kharagpur is your definitive starting point. Enroll to navigate the past, present, and future of the global oil economy with confidence.
Enroll Now →