Chair of Energy Economics and Management (FCN)
The Institute for Future Energy Consumer Needs and Behavior is a new research institute at RWTH Aachen University. It is focused on applied theoretical and empirical research in energy economics, management and policy, with a particular thematic focus on the adoption and diffusion of innovative technologies and on energy consumer needs and behavior.
We apply economic and management science theory to the sustainable production and use of energy. Research is undertaken both stand-alone and in collaboration with other social, engineering and natural scientists. Explicit consideration of behavioral aspects and motives, attitudes and needs of firms, private households and governments that shape their energy-using behavior is sought for.
Strong emphasis is put on the adoption and diffusion of innovative technologies in supporting a sustainable energy development. In contrast to 'pure' academic research often found in mainstream economics (highly stylized, ahistorical), the aim is to explicitly account for the technological basis and its change and, wherever possible, socio-economic aspects.
Teaching
The courses offered by FCN address students from different faculties and schools of RWTH Aachen and in particular those who are focusing on business economics and engineering economics. The courses provide the foundation for detailed and thorough analysis, and insights into a variety of research fields that are considered important in energy economics as well as in related fields (e.g. environmental economics, technological diffusion, and behavioral economics). In addition to the lectures and exercise units, seminars on topical issues in the fields of energy, mobility and environment are offered on a regular basis. Additionally, the Chair of Energy Economics and Management assigns and supervises a considerable number of student thesis projects each year, many of which are being undertaken in collaboration with the energy industry and related businesses.
Research
FCN covers a wide range of research topics in energy economics. Among others, behavioral aspects, such as motives, attitudes and needs of firms, private households, and governments, are examined in both applied theoretical and empirical economics research. A further focus is on investment in energy technologies under uncertainty, and impact studies. Often, the technological basis and its targeted changes, as well as socioeconomic, welfare and market design and structural aspects are considered explicitly in the research activities. The increasing importance of sustainable energy technologies and services requires a better understanding of the needs and behaviors of the actors in the various energy markets. FCN contributes to this objective through its research and teaching activities, and provides relevant findings and valuable recommendations for political and other decision-makers and society alike. FCN is nationally and internationally well established and also widely acknowledged.