Exploring Possible Futures: Modeling in Environmental and Energy Economics

Make informed decisions about pressing environmental issues.

What will our future look like? Will we continue burning fossil fuels or will we live in a 100% renewable world? How can we address climate change and what policies do we need to implement?

We will provide you with model examples to make you familiar with aspects of economic modeling and state-of-the-art research on current debates in energy policy.

This online course explores these concerns, using models in environmental and energy economics. You will learn how to design models, how to interpret and use results to make informed decisions, and how to use models to assess energy and environmental policies.

This course is intended for anyone interested in the topics of environmental economics and energy economics, including students at MSc or advanced BA level and policy makers.

To gain the most from this course, we encourage you to examine the details of the provided model examples, which require some basic knowledge in mathematics and microeconomics.

This course is not facilitated. Learners are encouraged to support one another, share personal experiences, and see new perspectives.

• Introduction on modeling
• Welcome to ‘Exploring Possible Futures’
• Course outline and requirements
• Supply options
• System perspective
• The basic principles of minimization and optimization
• Supply options, emissions and trade-offs
• Choice variables
• Firm perspective
• Where are the firms?
• The optimal investment and output decision of the firm
• The basic principles of equilibrium models
• Second-best worlds
• Choosing the right model
• The monopoly
• The oligopoly model
• Putting the pieces together to look into the future
• From model solutions to model interpretations
• Design your own future
• Farewell