Energy and Climate Policy

ENE467 Energy and Climate Policy

Autumn 2023

Spring 2024
  • Topics

    The course consists of lectures and answers to questions based on the lectures. These will be both analytical and simple modeling or estimation exercises to be solved in Excel.

    The following topics will be covered:

    1. Fossil fuels, CO2 emissions and economic growth in a historical perspective
    2. The trade-off: Economic growth versus reductions in CO2 emissions
    3. Renewable energy versus fossil fuels
    4. Near term costs versus long term benefits: the role of the discount rate
    5. Climate change in a historical perspective

  • Learning outcome

    Knowledge - upon successful completion the student knows

    • Development of fossil fuels and CO2 emissions in a historical perspective
    • Recent developments in renewable energy
    • The interdependence of economic growth and energy use, especially for developing countries
    • How to evaluate long term future benefits and compare them to immediate costs
    • How climate has varied in a historical perspective

    Skills - upon successful completion the student

    • Will be able to discuss issues of climate change in relation to energy requirements, especially of developing countries
    • Knows about the importance of fossil fuels for economic development
    • Is better informed about the potential and limits of renewable energy
    • Is able to support arguments by simple analytical and numerical models

    General competences - upon successful completion the student will have improved his/her

    • Analytical skills
    • Ability to formulate and solve simple numerical models to deal with practical issues

  • Teaching

    One week long intensive course with lectures and solution of exercises.

  • Recommended prerequisites

    Knowledge of basic calculus, basic statistics and simple modeling in Excel.

  • Required prerequisites

    Knowledge of basic calculus, basic statistics and simple modeling in Excel.

  • Credit reduction due to overlap


  • Compulsory Activity

    Submission of written assignments.

  • Assessment

    Written assignment. Students can deliver answers individually or in groups of maximum five.

  • Grading Scale


  • Computer tools


  • Literature

    Lecture notes are meant to be largely sufficient, but supplementary literature will be provided.


ECTS Credits
Teaching language

Spring. Offered Spring 2023 (first week of the semester).

Course responsible

Professor Rögnvaldur Hannesson, Department of Business and Management Science