Economics and Policies in a Biobased Economy (edX)

“In order to produce food in a sustainable way for an additional 2 billion people by 2050, a business-as-usual approach will not be sufficient. This is especially true in the face of climate change and other forces threatening natural resources like biodiversity, land and water that are essential for food production and agriculture, including forestry and fisheries. To meet these challenges, science and the application of biotechnologies as well as conventional technologies will play a key role.” FAO

Are you responsible for dealing with the economics and policies governing the transition- and implementation of biobased products and resources? Join the course Economics and Policies in a Biobased Economy and discover the whole value chain from Research & Development, over application, processing, retailing and final demand. Learn how the value chain and the rents and their distribution along the chain are affected by policies. Examples such as the benefits and costs of developing, cultivating, and marketing genetically modified organisms (GMOs) will be discussed extensively.

Upgrade your knowledge about the recent trends in the circular economy and in sustainable business. Know how to measure adoption and environmental benefits, learn about the benefits and costs and the distribution of sustainable products, market power, approval processes, supply chain, guiding policies and the current social debate.

Join the MicroMasters programme!

This course is part of the MicroMasters programme Economics and Policies for a Circular Bio-Economy.

A series of 3 courses and a final capstone project designed to help you cover the economic and policy side of converting biological resources into biobased products. You will be able to contribute to managerial decision-making, as well as policy development.

Explore the other courses in this MicroMasters programme:

- Circular Economy: An Interdisciplinary Approach

- From Fossil Resources to Biomass: a Chemistry Perspective

- Capstone Economics and Policies for a Circular Bio-Economy

You might also like the MicroMasters Business and Operations for a Circular Bio-Economy.

What you'll learn:

- Explain the economic issues and policies affecting the biobased economy at the EU and international level

- Identify the important factors driving the development of the circular bioeconomy

- Assess the development of the circular bioeconomy from an economic perspective

Syllabus

Module 1: The Circular Bioeconomy and Policies

In this module, you will be introduced to the economic importance of the circular bioeconomy and learn how to recognize the important driving factors.

Module 2: From Precautionary Approach to CBA

How can we measure these driving factors? Let’s learn about cost-benefit analysis (CBA), the precautionary approach, and the irreversibility effect.

Module 3: Macro Modelling

In module 3, you will learn about the key elements of an integrated assessment framework so that you can visualize the impact of a circular bioeconomy on policy aims. We will focus on macroeconomic modelling tools applied to biobased chemicals.

Module 4: Biofuel's Economics and Policies

To conclude the course, we will look at the economic and policy theories in the specific case of biofuels: what are the key differences of a biofuel mandates and price links? Also, you will be asked to integrate the theory seen in this and in the previous modules by applying it to your own case about bioplastics.