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Master of Electricity Markets

30 credit hours

Deregulation is bringing major changes to the electric power industry. Electricity is now traded in commodity markets, and these new markets affect the way the electric power grid is controlled and operated. Electrical engineers need to understand both the technical and the business sides of these changes in order to address the needs of the electric power industry. IIT's Department of Electrical and Computer Engineering and Center for Financial Markets have teamed up to develop new master s degree and graduate certificate programs in electricity markets. Combining existing and new courses from the graduate programs in electrical engineering and in financial markets and trading, the programs provide graduate-level education in electricity markets suitable for electric power engineers.

The program of study includes a minimum of 30 credit hours of acceptable graduate coursework, with a minimum of 18 credit hours at the 500 level or higher (excluding accelerated courses and master s seminars). Up to two credits of Master's Seminar (ECE 595 or ECE 596) and up to six credits of accelerated courses may be applied to the degree. A background in finance is not required.

Curriculum

Core courses

ECE 555 Power Market Operations
ECE 561 Deregulated Power Systems
ECE 562 Power System Transaction Management
ECE 564 Control and Operation of Electric Power Systems
FM 553 Valuing Energy Derivatives
FM 552 Introduction to Energy Markets

Select two additional courses from the following

ECE 419 Power System Analysis
ECE 420 Advanced Power System Analysis
ECE 550 Power Electronic Dynamics and Control
ECE 553 Power Systems Planning
ECE 554 Power Systems Relaying
ECE 556 Power Market Economics and Security
ECE 557 Fault-Tolerant Power Systems
ECE 558 Power System Reliability
ECE 559 High Voltage Power System Relaying
ECE 560 Power Systems Dynamics and Stability
ECE 563 Computational Intelligence in Engineering
ECE 531 Linear System Theory

Six additional credit hours of electives are chosen from the offerings of the Department of Electrical and Computer Engineering, including the list of power courses above.