Energy Economics

Course ID: 
Year of Study: 
For Erasmus Students: 

Introducing the core values, theories and approaches of the Economic Theory in the field of Energy Economics

Learning Outcomes

By the end of this course the student will be able to:

1) Knowledge

  • Understand the basic concepts and theoretical approaches related to Energy Economics.
  • Be aware of the problem-solving methodology, the mechanisms that govern the basic concepts and the policy measures needed to address failures of this market.

2) Skills

  • Distinguish the different cases of mathematical problems and to explain their use in relation to the mathematical problem posed.
  • Explain specific phenomena that occur in the field of Energy Economics and examine the reasons behind them.

3) Capabilities

  • Combine theory with economic problems that fall within the course and successfully proceed with their modeling (e.g. pricing in the energy market).
  • Rebuild the economic problem (e.g. Maximize a business's profit) and explain the solution taking into account the parameters of the specific area of ​​energy economics.
  • Be able to use the literature review on relevant topics.
  • Be able to compose specific information from databases or the literature  to produce own results or explain phenomena.
  • Be able to evaluate, compare and support the economic dimension (interprets) the solution in the new context given.

By the end of this course the student will, have developed the following skills (general abilities):

  1. Ability to exhibit knowledge and understanding of the essential facts, concepts, theories and applications related to the specific course.
  2. Ability to apply this knowledge and understanding to the solution of problems.

Course Contents

  1. Basic concepts and definitions related to Energy Economics.
  2. Demand and supply. Indicating their determinants, changes in supply or demand and different market structures (full competition, monopoly, etc.)
  3. Energy markets (failures and equilibria)
  4. Pricing in the Energy Market (energy pricing models and examples)
  5. Economics of Renewable Energy Sources
  6.  Energy Efficiency (Energy Conservation and Efficiency, Models of Efficiency and Productivity)
  7. Research and Development and Innovation in Energy Markets (Present state of energy security and energy dependency, the role of climate change and the importance of R & D and innovation in the sector)
  8. Economics of Climate Change (current situation, mitigation and mitigation measures, and policies)
  9.  Climate Change Policies (Kyoto Protocol and Copenhagen Accord - short presentation

Teaching Activities

Lectures (3 hours per week) and Tutorials (2 hours per week)

Supplementary  learning based on the material in the open course entitled "Energy Economics":

Teaching Organization


Semester workload

Lectures (3 hours per week x 13 weeks)

39 hours

Tutorials (1 hour per week x 13 weeks)

  13 hours

Hours for private study

98 hours

Total number of hours for the Course (25 hours of work-load per ECTS credit)

150 hours (total student work-load)


a) Written examination at the end of the semester (70%) - final grade.

b) Assignments with a 30% weight factor to the total grade. 

Use of ICT

Use of Information and Communication Technologies (ICTs) (e.g. PowerPoint) in teaching. The lectures for each chapter are uploaded on the e-class platform , in the form of  ppt files, which the enrolled students can freely download.

Course Info

Current Tutors


Kounetas Konstantinos

Associate Professor
Kounetas Konstantinos
Field of Expertise: 
Industrial Organisation
Organic Unit / Lab: 
Laboratory of Industrial, Innovation and Regional Economics
Office Hours: 
Undergraduate students:
Monday 11.00-13.00
Tuesday 11.00-12.00
Postgraduate students
Friday 14.00 -15.00

Reading List

Reading Recommendations: 
- Οικονομικά της ενέργειας και ενεργειακό σύστημα, Bradford T.,
- Αειφόρος Ανάπτυξη Περιβάλλον και Ενέργεια, Καρκαλάκος Σ. Πολέμης Μ.,