Course Information
SchoolMechanical Engineering
Cycle / Level1st / Undergraduate
Teaching PeriodSpring
CoordinatorAgis Papadopoulos
Course ID20000367

Programme of Study: UPS of School of Mechanical Engineering

Registered students: 26
OrientationAttendance TypeSemesterYearECTS
EnergyElective Course belonging to the selected specialization (Elective Specialization Course)1055

Class Information
Academic Year2019 – 2020
Class PeriodSpring
Faculty Instructors
Instructors from Other Categories
Weekly Hours4
Class ID
Type of the Course
  • Scientific Area
Course Category
Specific Foundation / Core
Mode of Delivery
  • Face to face
Digital Course Content
The course is also offered to exchange programme students.
Language of Instruction
  • Greek (Instruction, Examination)
  • English (Instruction, Examination)
General Prerequisites
Learning Outcomes
By successfully accomplishing this course students will have understood the fundamentals of energy systems' economics and will have analysed the importance of energy for the competitiveness, the security of supply and the sustainability. They will be able to carry out an integrated assessment of the use of energy resources, by applying methods like the Levelized Cost of Energy and the Life Cycle Costing, taking into consideration the challenges and restrictions of energy systems, interconnected and non-interconnected. They will have understood and analysed the application of regulatory and economic energy and environmental policies and tools. Finally, they will have understood the various models of operation of electricity, oil and gas markets.
General Competences
  • Apply knowledge in practice
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Make decisions
  • Work autonomously
  • Work in teams
  • Respect natural environment
Course Content (Syllabus)
Design, financing and implementation of energy systems investments. Definition of investments’ initial cost, operational and rejection cost. Optimisation of energy resources management. Dimensioning and utilisation of energy systems. Estimation methods for energy investment aims. Life cycle analysis of energy systems. Energy demand management. Incentives policies for energy policies implementation. Macroeconomics and pricing policies of energy. The European electricity and natural gas market, European and national regulatory framework.
Energy Systems, Energy Policies, Sustainable Energy Investments, Life Cycle Analysis
Educational Material Types
  • Notes
  • Slide presentations
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Communication with Students
PC and projector use. Communication with students by means of e-learning platform and e-mail.
Course Organization
Laboratory Work260.9
Reading Assigment260.9
Written assigments100.3
Student Assessment
Coursework and written exams, as announced on the e-learning page of the course.
Student Assessment methods
  • Written Exam with Short Answer Questions (Summative)
  • Written Exam with Extended Answer Questions (Summative)
  • Written Assignment (Formative)
  • Written Exam with Problem Solving (Summative)
Course Bibliography (Eudoxus)
Robert Cinnamon, Brian Helweg-Larsen, Πώς να κατανοήσετε τα οικονομικά των επιχειρήσεων, Εκδ. Ελευθερουδάκης, ISBN 978-960-200-118-9, χρονολογία έκδοσης 2008, αριθμός σελίδων 148.
Additional bibliography for study
Σημειώσεις του διδάσκοντα. Murray Barrie, Power Markets and Economics: Energy Costs, Trading, Emissions, Wiley Publishers, ISBN: 978-0-470-77966-8, 2009. Bhattacharyya, Subhes C., Energy Economics: Concepts, Issues, Markets and Governance, Springer Academic Publishers, ISBN 978-0-85729-267-4, 2011. Conkling, Roger, L., Energy Pricing: Economics and Principles, Springer Academic Publishers, ISBN 978-3-642-15490-4, 2011. Creating markets for energy technologies, International Energy Agency, Organisation for Economic Co-operation and Development, 2003 Τhe Future for Renewable Energy 2, European Renewable Energy Council, James & James (Science Publishers) Ltd, 2002 Blank L., Tarquin, A., Engineering Economy, 7th Edition, McGraw-Hill, ISBN 978-0-07-337630-1, 2012. Park, C.S., Fundamentals of Engineering Economics, 2nd Edition, Pearson Education, ISBN 978-0-13-135457-9, 2009. Capital Budgeting: Financial Appraisal of Investment Projects, Don Dayananda , Richard Irons, Steve Harrison, John Herbohn, Patrick Rowland, Cambridge University Press, 2003 H. Campbell and R. Brown, Benefit-Cost Analysis: Financial and Economic Appraisal Using Spreadsheets, Cambridge University Press, 2003
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