Environmental Economics

Environmental Economics

Purpose:

The purpose of this course is to examine the interconnection between the natural environment and the economy with a focus on economic policy on climate change, sustainability, the circular economy and innovation for renewable energy. The main objective is to understand what is defined as climate change and sustainability and how to promote the transition to a low-carbon energy system, in theory and international practice, for environmental protection and sustainable development.

Contents:

The course will teach and discuss basic principles of environmental economics, renewable and non-renewable energy sources and how economic concepts such as lock-in and free-riding, combined with underfunding in research and development have delayed the transition, and finally policies related to climate change and innovation.

The focus of the course is on understanding the factors contributing to climate change and how to design and implement innovation policies that promote sustainability, prevent climate change, and address the problems involved in achieving this. This can be achieved, inter alia, by comparing policies around the world related to climate change and innovation and Greece’s position among them.

After the end of the course, students will be able to:

• Understand the issues of climate change, sustainability, circular economy and renewable energy policies.
• Explain the role of innovation and relate innovation to productivity, long-term economic growth and competitiveness.
• Understand the nature, tools and role of economic policy for renewable energy.
• Identify sources of market dysfunction or failure, including monopoly power, coordination failure as well as policies and rules that may be useful to address these problems.
• Understand the concepts of technology and innovation system and understand their application in different technological, spatial, national and international contexts.
• Understand the issue of innovation in energy systems and governance that contributes to sustainability.