Upon completion of this course, students will be able to:

• Gain a solid understanding of fundamental economic principles as they apply to business decision making, including supply and demand analysis, cost structures, and market structures.
• Analyse the economic dimensions of sustainable development and its objectives by exploring concepts such as resource efficiency and the economic impacts of sustainable practices.
• Formulate effective business strategies based on empirical results and literature that are aligned with the objectives of sustainable development, integrating economic considerations, environmental management and social responsibility.
• Understand the ways of integrating the dimensions of Corporate Social Responsibility (CSR) in the formulation of green business decisions
• Apply appropriate econometric techniques for business analysis and interpret the outcome through analysis of business and economic data, enabling them to make informed decisions and forecasts
• Explore strategies of the twin business transition to carbon neutrality by delving into the unique challenges faced by Small and Medium Enterprises (SMEs) in navigating the twin transitions (green transition and digital transformation) to achieve it developing knowledge on strategies and policies that can facilitate SMEs in aligning their operations with carbon neutrality targets.
• Understand the content and impact of European policies and their effects on businesses, industries and sectors, gaining knowledge of the European policy framework, understanding their impact on business strategy formulation
• Assess how economic policies influence strategic planning and sustainability initiatives.

The module focuses on how to formulate business strategy in the light of the transition to sustainability. Introduction to the economics of sustainable development, policy evolution, measurement, critique, policy framework, study and interpretation of empirical evidence. Introduction to business economics and sustainability. Concepts of business strategy, strategic planning and orientation combined with resource-capability theories and approaches at the firm level. The role of technological change, diversification and competitive advantage of firms for sustainable transition is studied. Business strategy and planning in promoting sustainability. Introduction to the application of econometrics in the analysis of sustainability-related data for sustainable business decision making and study of the factors of strategy adoption using limited dependent variable models and the case of unobservable variables. International experience is reviewed, applications are presented to interpret results and derive policies based on empirical data. European policy and sustainable development. The European Green Deal as a growth strategy towards achieving carbon neutrality. Exploring the impact of European policies on sustainable development and understanding the key European policies shaping sustainable development and their impact on business. The technological aspects of green growth and the twin transitions for SMEs. Exploring strategies for SMEs to achieve carbon neutrality in the context of the twin transition. Challenges and opportunities for SMEs in adopting green technologies and navigating the twin transition to carbon neutrality. Fiscal policy implications for the green transition at country and firm level. Environmental Social Governance performance and Sustainability. Investing in the potential to create green technological advantage and technological dependence. Green technologies and environmental innovation. Efficiency and productivity analysis through green production functions and sustainable technological structures. Empirical evidence, measurement and interpretation. Review of international experience and case studies.

Lectures (3 hours per week)

Lectures and examinations within the course are conducted in person. Student assessment is based on a written final examination which may include multiple choice questions, short answer questions, solving exercises, interpretation of results and/or a combination of the above.

• Use of PowerPoint during lectures
• Posting of educational material on the asynchronous e-learning platform in the course area
• Provision of bibliographic references for study on the asynchronous tele-education platform at the course site
• Posting of information of interest and announcements related to the course on the asynchronous e-learning platform in the classroom
• Communication via e-mail/eclass