EE566 Power Markets & Economics
Syllabus | International University of Sarajevo - Last Update on Mar 03, 2026
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Electrical and Electronics Engineering
Mohammad Al Samman
Course Lecturer
Course Objectives
The course mainly discusses the economical operation of electrical power systems. The course presents the fundamental formalism regarding the generation schedules and unit commitments. It also introduces the basic principles of electrical power systems markets. The course also provides opportunities to write substantial, professional, technical reports, and present findings and conclusions.
Learning Outcomes
After successful completion of the course, the student will be able to:
Course Materials
Required Textbook
R1: Saadat, H. (1999). Power system analysis. McGraw Hill.
Additional Literature
R2: Gan, D., Feng, D., Xie, J., & Feng, D. (2014). Electricity markets and power system economics. Boca Raton, FL, USA: CRC Press. R3: Baringo, Luis, and Morteza Rahimiyan. Virtual power plants and electricity markets: Decision making under uncertainty. Springer Nature, 2020. R4: Kirschen, D. S., & Strbac, G. (2018). Fundamentals of power system economics. John Wiley & Sons. R5: Weedy, B. M., Cory, B. J., Jenkins, N., Ekanayake, J. B., & Strbac, G. (2012). Electric power systems. John Wiley & Sons. R6: Wood, A. J., Wollenberg, B. F., & Sheblé, G. B. (2013). Power generation, operation, and control. John Wiley & Sons. R7: Shahidehpour, M., Yamin, H., & Li, Z. (2003). Market operations in electric power systems: forecasting, scheduling, and risk management. John Wiley & Sons. R8: Zhu, J. (2015). Optimization of power system operation. John Wiley & Sons. R9: Stoft, S. (2002). Power system economics: designing markets for electricity (Vol. 468). Piscataway: IEEE press.Teaching Methods
Class discussions with examples
Active tutorial sessions for engaged learning and continuous feedback on progress
Team and individual assignments
Team projects that involve real data, summary, interpretation and reporting
Weekly Topics
| Week | Topic | Readings / References |
|---|---|---|
| 1 | Course Syllabus & Mechanics. Introduction, Review of load flow | R1/Ch6 |
| 2 | Introduction to power systems optimization | R8 |
| 3 | Integrating Renewable Energy Resources in the Distribution Networks | R3/Ch7 |
| 4 | Economic Dispatch | R1/Ch7 |
| 5 | Economic Dispatch | R6/Ch3 |
| 6 | Unit Commitment | R6/Ch5 |
| 7 | Unit Commitment | R6/Ch5 |
| 8 | Midterm Exam | - |
| 9 | Basic Concepts from Economy | R4/Ch2 |
| 10 | Markets for Electrical Energy | R4/Ch3 |
| 11 | Markets for Electrical Energy | R4/Ch3 |
| 12 | Electrical Price Forecast | R5/Ch7 |
| 13 | Electrical Price Forecast | R5/Ch7 |
| 14 | Emerging Topics | - |
| 15 | General Revision | - |
Course Schedule (All Sections)
Office Hours & Room
| Day | Time | Office | Notes |
|---|---|---|---|
| Tuesday | 15:00 - 16:00 | A F2.7 | |
| Wednesday | 13:00 - 15:00 | A F2.7 | |
| Thursday | 11:00 - 13:00 | A F2.7 |
Assessment Methods and Criteria
Assessment Components
Final Exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4
Homework
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4
Midterm Exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4
IUS Grading System
| Grading Scale | IUS Grading System | IUS Coeff. | Letter (B&H) | Numerical (B&H) |
|---|---|---|---|---|
| 0 - 44 | F | 0 | F | 5 |
| 45 - 54 | E | 1 | ||
| 55 - 64 | C | 2 | E | 6 |
| 65 - 69 | C+ | 2.3 | D | 7 |
| 70 -74 | B- | 2.7 | ||
| 75 - 79 | B | 3 | C | 8 |
| 80 - 84 | B+ | 3.3 | ||
| 85 - 94 | A- | 3.7 | B | 9 |
| 95 - 100 | A | 4 | A | 10 |
Late Work Policy
Information about late submission policies will be shared during class and posted in this section. Please check back for official guidelines.
ECTS Credit Calculation
📚 Student Workload
This 6 ECTS credit course corresponds to 150 hours of total student workload, distributed as follows:
Lecture Hours
45 hours ⏳ (15 week × 3 h)
In-term Exam Study
10 hours ⏳ (1 week × 10 h)
Home Study
45 hours ⏳ (15 week × 3 h)
Reporting
36 hours ⏳ (12 week × 3 h)
Final Exam Study
14 hours ⏳ (1 week × 14 h)
150 Total Workload Hours
6 ECTS Credits
Course Policies
Academic Integrity
All work submitted must be your own. Plagiarism, cheating, or any form of academic dishonesty will result in disciplinary action according to university policies. When in doubt about citation practices, consult the instructor.
Attendance Policy
Students are expected to adhere to the attendance requirements as outlined in the International University of Sarajevo Study Rules and Regulations. Excessive absences, whether excused or unexcused, may impact academic performance and eligibility for assessment. Mandatory sessions (e.g., labs, workshops) require attendance unless formally exempted. For detailed policies on absences, documentation, and penalties, please refer to the official university regulations.
Technology & AI Policy
Laptops/tablets may be used for note-taking only during lectures. Phones should be silenced and put away during all class sessions. Audio/video recording requires prior permission from the instructor.
Artificial Intelligence (AI) Usage: The use of AI tools (e.g., ChatGPT, Copilot, Gemini) varies by assessment component. Please refer to the AI usage indicator next to each assessment item in the Assessment Methods and Criteria section above. Submitting AI-generated content as your own work, where AI is not explicitly allowed, constitutes an academic integrity violation.
Communication Policy
All course-related communication should occur through official university channels (institutional email or SIS). Emails should include [EE566] in the subject line.
Academic Quality Assurance Policy
Course Academic Quality Assurance is achieved through Semester Student Survey. At the end of each academic year, the institution of higher education is obliged to evaluate work of the academic staff, or the success of realization of the curricula.
Learning Tips
Be prepared to contribute thoughtfully during class discussions, labs, or collaborative work. Active participation deepens understanding and encourages critical thinking.
Complete assigned readings or prep materials before class. Take notes, highlight key ideas, and jot down questions. Aim to grasp core concepts and their applications—not just facts.
Use course frameworks or methodologies to analyze problems, case studies, or projects. Begin early to allow time for reflection and refinement. Seek feedback to improve your work.
Don’t hesitate to reach out when something is unclear. Use office hours, discussion boards, or peer networks to clarify concepts and stay on track.
Syllabus Last Updated on Mar 03, 2026 | International University of Sarajevo
Print Syllabus
Referencing Curricula Print this page
| Course Code | Course Title | Weekly Hours* | ECTS | Weekly Class Schedule | ||||||
| T | P | |||||||||
| EE566 | Power Markets & Economics | 3 | 0 | 6 | 17:00 to 19:50 | |||||
| Prerequisite | None | It is a prerequisite to | - | |||||||
| Lecturer | Mohammad Al Samman | Office Hours / Room / Phone | Tuesday: 15:00-16:00 Wednesday: 13:00-15:00 Thursday: 11:00-13:00 |
|||||||
| malsamman@ius.edu.ba | ||||||||||
| Assistant | Assistant E-mail | |||||||||
| Course Objectives | The course mainly discusses the economical operation of electrical power systems. The course presents the fundamental formalism regarding the generation schedules and unit commitments. It also introduces the basic principles of electrical power systems markets. The course also provides opportunities to write substantial, professional, technical reports, and present findings and conclusions. | |||||||||
| Textbook | R1: Saadat, H. (1999). Power system analysis. McGraw Hill. | |||||||||
| Additional Literature |
|
|||||||||
| Learning Outcomes | After successful completion of the course, the student will be able to: | |||||||||
| Teaching Methods | Class discussions with examples. Active tutorial sessions for engaged learning and continuous feedback on progress. Team and individual assignments. Team projects that involve real data, summary, interpretation and reporting. | |||||||||
| Teaching Method Delivery | Face-to-face | Teaching Method Delivery Notes | ||||||||
| WEEK | TOPIC | REFERENCE | ||||||||
| Week 1 | Course Syllabus & Mechanics. Introduction, Review of load flow | R1/Ch6 | ||||||||
| Week 2 | Introduction to power systems optimization | R8 | ||||||||
| Week 3 | Integrating Renewable Energy Resources in the Distribution Networks | R3/Ch7 | ||||||||
| Week 4 | Economic Dispatch | R1/Ch7 | ||||||||
| Week 5 | Economic Dispatch | R6/Ch3 | ||||||||
| Week 6 | Unit Commitment | R6/Ch5 | ||||||||
| Week 7 | Unit Commitment | R6/Ch5 | ||||||||
| Week 8 | Midterm Exam | - | ||||||||
| Week 9 | Basic Concepts from Economy | R4/Ch2 | ||||||||
| Week 10 | Markets for Electrical Energy | R4/Ch3 | ||||||||
| Week 11 | Markets for Electrical Energy | R4/Ch3 | ||||||||
| Week 12 | Electrical Price Forecast | R5/Ch7 | ||||||||
| Week 13 | Electrical Price Forecast | R5/Ch7 | ||||||||
| Week 14 | Emerging Topics | - | ||||||||
| Week 15 | General Revision | - | ||||||||
| Assessment Methods and Criteria | Evaluation Tool | Quantity | Weight | Alignment with LOs | AI Usage |
| Final Exam | 1 | 20 | 1-4 | Not Allowed | |
| Semester Evaluation Components | |||||
| Homework | 5 | 60 | 1-4 | Not Allowed | |
| Midterm Exam | 1 | 20 | 1-4 | Not Allowed | |
| *** ECTS Credit Calculation *** | |||||
| Activity | Hours | Weeks | Student Workload Hours | Activity | Hours | Weeks | Student Workload Hours | |||
| Lecture Hours | 3 | 15 | 45 | In-term Exam Study | 10 | 1 | 10 | |||
| Home Study | 3 | 15 | 45 | Reporting | 3 | 12 | 36 | |||
| Final Exam Study | 14 | 1 | 14 | |||||||
| Total Workload Hours = | 150 | |||||||||
| *T= Teaching, P= Practice | ECTS Credit = | 6 | ||||||||
| Course Academic Quality Assurance: Semester Student Survey | Last Update Date: 27/03/2026 | |||||||||