Course Description: Economics and Policies in a Biobased Economy

As the global population is predicted to reach nearly 10 billion by 2050, sustainable food production becomes critical amid challenges like climate change and decreasing natural resources. This course aims at individuals involved in managing the economic and policy aspects of transitioning to biobased products and resources. Offering an in-depth understanding of the entire value chain from research and development to end consumers, this course underlines the impact of policies on the economic distribution across the value chain. The course extensively covers the implications of biotechnologies such as GMOs and explores recent trends in sustainable business and circular economy.

What Students Will Learn

• Explain the economic issues and policies affecting the biobased economy globally and specifically in the EU.
• Identify and analyze the drivers behind the development of the circular bioeconomy.
• Assess the circular bioeconomy's development from an economic perspective.
• Understand economic and policy dynamics related to biofuels, including mandates and pricing.
• Acquire updated knowledge on recent trends in the circular economy and sustainable business practices.

Prerequisites

While there is no formal prerequisite, a bachelor's degree in social sciences, particularly in business or economics, is recommended to optimally benefit from the course.

Course Coverage

• Economic importance and policy effects on biobased economies
• Value chain analysis from R&D to consumer levels in a biobased market
• Illumination of GMOs impacts - costs, benefits, and policy interaction
• Critical exploration of circular economy and sustainability approaches
• Advanced topics like macroeconomic impacts, regulatory frameworks, and market dynamics

Intended Audience

This course is ideal for professionals and academics interested in the economic aspects of the circular bio-economy, including policymakers, economists, environmentalists, and business managers who are looking to deepen their understanding of biobased markets and sustainable practices.

Real-World Application

Learners can apply the insights gained from this course to:

• Facilitate informed decision-making in business and policy contexts regarding biobased products and technologies.
• Develop strategies to implement sustainable and economical solutions in industries reliant on biobased resources.
• Advocate for and design policies that promote environmental sustainability and economic benefits in their professional realms.

Syllabus

• Module 1: Introduction to Circular Bioeconomy and Policies
• Module 2: Economic Assessment and Precautionary Approaches in Bioeconomy
• Module 3: Macro Modelling in Bioeconomy
• Module 4: Economics and Policies of Biofuels