Description: Provides an introductory economic analysis of the theory and practice of taxes and the energy sector, focusing on the evaluation of alternative tax systems in terms of equity, efficiency, and simplicity. Includes general equilibrium modeling of the economic effects of taxes, with an application to federal and state taxes on the energy sector. Topics include royalties, resource rent taxes, corporate income taxes including international tax issues such as transfer pricing and income shifting, excess profit taxes, production-sharing agreements, auctions, and environmental taxes such as carbon taxes. Students will formulate, implement, and use a computable general equilibrium model to solve problems related to private and public decision making in the context of taxes applied to the U.S. energy sector.