Energy economics and political economy

Md. Monirul Islam

Chapter 36 in Elgar Encyclopedia of Energy Economics, 2025, pp 141-144 from Edward Elgar Publishing

Abstract: The economic value of resource scarcity is crucial in energy economics. Furthermore, this discipline accentuates the trade-off between energy and other traditional inputs (e.g. capital, labour, and various forms of energy). Energy economics broadens the perspective on the alternative use of resources for achieving public goods. Resource mobilization mainly requires legislation and implementation of regulations under properly authorized bodies. Accordingly, the political economy guides political authorities to mobilize resources or energy resources within the appropriate policy framework. Additionally, energy generation and distribution challenges require policy or governmental intervention for public welfare, as prescribed in political economy studies. Thus, energy economics and political economy have become synthesized into the discipline of energy resources amid the current wave of energy transitions.

Keywords: Energy Economics; Political Economy; Energy Consumption and Generation; Energy Policy; Energy Transitions; Governmental Intervention (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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