Routledge Handbook of Energy Economics  book cover
1st Edition

Routledge Handbook of Energy Economics

ISBN 9781032089195
Published June 30, 2021 by Routledge
640 Pages 150 B/W Illustrations

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Book Description

Energy consumption and production have major influences on the economy, environment, and society, but in return they are also influenced by how the economy is structured, how the social institutions work, and how the society deals with environmental degradation. The need for integrated assessment of the relationship between energy, economy, environment, and society is clear, and this handbook offers an in-depth review of all four pillars of the energy-economy-environment-society nexus.

Bringing together contributions from all over the world, this handbook includes sections devoted to each of the four pillars. Moreover, as the financialization of commodity markets has made risk analysis more complicated and intriguing, the sections also cover energy commodity markets and their links to other financial and non-financial markets. In addition, econometric modeling and the forecasting of energy needs, as well as energy prices and volatilities, are also explored. Each part emphasizes the multidisciplinary nature of the energy economics field and from this perspective, chapters offer a review of models and methods used in the literature.

The Routledge Handbook of Energy Economics will be of great interest to all those studying and researching in the area of energy economics. It offers guideline suggestions for policy makers as well as for future research.

Table of Contents

List of Figures

List of Tables

List of Contributors

Preface, Reinhard Madlener

Introduction, Ugur Soytas and Ramazan Sari

Part 1 Energy and economy

  1. Energy demand, Govinda Timilsina
  2. Energy and economic growth, David Stern
  3. Oil prices and the macroeconomy, Lance Bachmeier and Michael Plante
  4. Economics of renewable energy, Painuly J. Prasad and Norbert Wohlgemuth
  5. Energy efficiency and economy-wide rebound: realising a net gain to society, Lisa Ryan, Karen Turner, and Nina Campbell
  6. Economic impacts of energy transition, Christian Lutz and Ulrike Lehr
  7. Electricity market integration, Lillian M. de Menezes and Michael Tamvakis
  8. Analysis of Macroeconomic Impacts of Energy Security Improvements in Asia, Deepak Sharma, Suwin Sandu, Muyi Yang
  9. Part 2 Energy and environment

  10. Energy and climate, Richard S.J. Tol
  11. Carbon emissions and energy use, Yi-Ming Wei and Lan-Cui Liu
  12. Energy economics and environment of energy systems, Janie Ling-Chin, K. Rajendran, and A.P. Roskilly
  13. Renewable energy policy, Travis Roach
  14. The energy water nexus, Benjamin K. Sovacool
  15. Low carbon economy and smart grids, Cédric Clastres and Patrice Geoffron
  16. The role of carbon pricing in the Paris agreement, Izzet Ari and Ramazan Sari
  17. Part 3 Energy and society

  18. The impact of climate change and the social cost of carbon, Richard S.J. Tol
  19. Energy and the public: the economic relevance of citizens’ engagement, Alessandro Sciullo, Anna Pellizzone
  20. Quality of life and energy use: Is there a fair energy use level?, Olcay Aydemir and Ugur Soytas
  21. Responsible investment, Aled Jones
  22. Energy economics as an energy justice dilemma: Case studies of normative trade-offs in Malawi, Mexico, and Germany, Kirsten Jenkins, Shanil Samarakoon, and Paul Munro
  23. Part 4 Energy and other markets

  24. Oil spot and futures prices, Nikki Kantelis, Bradley T. Ewing
  25. Oil and stock prices, Perry Sadorsky
  26. The role of oil price volatility in the real and financial economy: a survey review, Nicholas Apergis
  27. Mutual Funds and Energy Sector, Alper Gormus
  28. Oil prices and other energy commodities, Syed Basher
  29. Oil and agricultural commodity prices, Saban Nazlioglu
  30. Oil prices and exchange rates, Hassan Anjum and Farooq Malik
  31. Volatility spillovers on oil and forex markets, Jozef Baruník and Evzen Kocenda
  32. Economic and social challenges of Smart Grids, Daniela Velte and Guillermo Gil
  33. Part 5 Energy Modelling

  34. CGE models in energy economics, Ken’ichi Matsumoto and Shinichiro Fujimori
  35. 'A Methodological Framework for Assessing Macroeconomic Impacts of Energy Security Improvements in Asia, Deepak Sharma, Suwin Sandu, Muyi Yang
  36. Top-down and bottom-up models, Bora Kat
  37. Macro-econometric and structural models, Ulrike Lehr and Christian Lutz
  38. Index decomposition analysis: Models and applications, Tian Goh and B.W. Ang
  39. Electricity price forecasting, Rafal Weron and Florian Ziel
  40. Paths and processes in complex electricity markets: the agent based perspective, Alessandro Sciullo, Elena Vallino, Martina Iori, and Magda Fontana
  41. Behavioral Economics and Energy Market, Ozlem Ozdemir
  42. The use of foresight in energy policy, Erik Laes
  43. Multi-criteria decision analysis for energy policy, Laurence Stamford, Burcin Atilgan, Jasmin Cooper and Adisa Azapagic


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Uğur Soytaş is a Professor in the Department of Business Administration and the Earth System Science Graduate Program at the Middle East Technical University (METU), Turkey. He is the co-editor of the Energy Economics journal.

Ramazan Sarı is a Professor in the Department of Business Administration, Middle East Technical University (METU), Turkey. He is the Dean of Faculty of Economics and Administrative Sciences at METU.


"This is a comprehensive handbook of energy economics that covers a broad range of issues and debates in the space of energy modelling, climate change and environment. The book will constitute a valuable resource for students, academics and policy makers working in the area of energy.", Paresh Narayan, Alfred Deakin Professor, Deakin Business School, Deakin University, Australia