One of the key inputs needed for the national economy to be able to produce goods and services necessary for the survival of its citizens is energy. The discovery of various forms of energy, from fire to electricity and nuclear energy, up to renewable energy sources, were often crucial for the development of mankind, and for advancements in the ways society and its manufacturing processes are organized.

The economics of energetics thus represents a diverse branch of economics that studies topics related to energy offer and utilization within the economy. Our researchers analyze the economic and broader social impacts of investing in energy efficiency, as well as the financial viability of such investments. Other research interests include the evaluation of various types of public policies aimed at encouraging investments in renewable energy sources and increasing energy efficiency, as well as developing the methodology to evaluate economic and broader social advantages and disadvantages of promoting renewable energy sources. Our researchers also focus on modeling and assessing the degree of convergence in fossil fuel consumption and renewable energy sources, to enable the design of public policies that promote a sustainable and balanced proliferation of preferred energy sources.

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  1. Investments in Croatian RES Plants and Energy Efficient Building Retrofits: Substitutes or Complements? Mikulić, Davor and Damira Keček, 2022, Energies, 15(1)
  2. Evaluation of the cost-effectiveness of the installation of heat-cost allocators in multifamily buildings in Croatia Slijepčević, Sunčana, Davor Mikulić and Kristijan Horvat, 2019, Energies, 12(3), pp. 507.
  3. Deployment of renewable energy : economic effects on the Croatian economy Keček, Damira, Davor Mikulić and Željko Lovrinčević, 2018, Energy Policies, 126, pp. 402-410.
  4. Economic Effects of Wind Power Plant Deployment on the Croatian Economy Mikulić, Davor, Željko Lovrinčević and Damira Keček, 2018, Energies, paper published July 19, 2018, DOI:
  5. Is there convergence in per capita renewable energy consumption across U.S. states? Evidence from LM and RALS-LM unit root tests with breaks Payne, James E., Maruška Vizek and Junsoo Lee, 2017, Renewable and Sustainable Energy Reviews, 70, pp. 715–728. 
  6. Stochastic convergence in per capita fossil fuel consumption in U.S. states Payne, James E., Maruška Vizek and Junsoo Lee, 2017, Energy Economics, 62, pp. 382–395. 
  7. The economic impact of energy saving retrofits of residential and public buildings in Croatia Mikulić, Davor, Ivana Rašić Bakarić and Sunčana Slijepčević, 2016, Energy Policy, 96 (2016), pp. 630–644.
  8. The socioeconomic impact of energy saving renovation measures in urban buildings Mikulić, Davor, Ivana Rašić Bakarić and Sunčana Slijepčević, 2016, Ekonomska istraživanja (Economic Research), 29 (1), pp. 1109–1125. 

Other papers

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  1. Oil prices and European household consumption expenditures Vizek, Maruška, Junsoo Lee and James E. Payne, 2020, OPEC Energy Review, 44(1).
  2. Revitalization and energy renovation of Donji grad, Zagreb Mikulić, Davor, Ivana Rašić Bakarić and Sunčana Slijepčević, 2017, The Institute of Economics, Zagreb and North-west Croatia Regional Energy Agency.


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  1. Sustainable Development in Croatia and the European Green Deal, 2020 Commissioned by: Friedrich Ebert Stiftung
    Project manager: Vedran Recher
  2. Analysis of indirect benefits of energy efficient retrofit of buildings, 2019 Commissioned by: Ministry of Construction and Physical Planning
    Project manager: Davor Mikulić
  3. Analysis of economic trends as a base for Croatian energy strategy (CRO2050), 2018 Commissioned by: Energy Institute Hrvoje Požar
    Project manager: Željko Lovrinčević
  4. Integral analysis of the effects of the development and construction of renewable energy sources in Croatia from 2007 to 2016, 2017–2018 Commissioned by: Energy Institute Hrvoje Požar
    Project manager: Željko Lovrinčević
  5. Cost effectiveness of individual heat cost allocators in Croatian buildings, 2017 Commissioned by: Ministry of Environmental Protection and Energy
    Project manager: Davor Mikulić
  6. Review of energy efficiency financing schemes in member states and recommendations to maximise their impacts and effective deployment, 2016 Commissioned by: REKK Energiapiaci Tanacsado within a contract with DG Environment
    Project manager: Željka Kordej-De Villa
  7. Analysis of financial viability of energy efficient renovation in residential and public buildings in Croatia, 2015 Commissioned by: Ministry of Construction and Physical Planning
    Project manager: Davor Mikulić
  8. Revitalisation and energy efficient renovation of Donji grad, 2014 Commissioned by: North-west Croatia Regional Energy Agency
    Project manager: Davor Mikulić
  9. Market, technological, technical and economic characteristics of TE Plomin C-500 thermal plant construction in the context of the Croatian energy system and the South East European energy community, 2005–2006 Commissioned by: HEP Group
    Project manager: Mustafa Nušinović