Economics of smart cities and communities

Aims of the course

The aim of the course is to introduce the smart city concept and different trends that are assuring green future together with guidelines for smart city transformation. In this course, students will gain understanding of digital transformation as a key driver of change in cities and communities. The course will also provide students with the information about essential smart city elements, with special emphasis on the smart mobility. The aim of the course is also to present different smart city initiatives as well as issues related to developing smart cities and communities. The aim is also to learn how to analyze and compare existing smart city and community projects and to analyze smart community data using R and other related software.

The course will provide students with the opportunity to critically evaluate, optimise and manage smart solutions for citizens and organizations in the urban surroundings and other environments. The course will also provide the students with the opportunity to develop the skills of analysing different approaches of smart city development as well as managing obstacles for it.

Course syllabus

Part 1: Digitalization and the society

Digitalization and digital transformation
Digital transformation of the society
The concept and the drivers of green future
Challenges for cities and communities
Innovative business models’ concept



Part 2: The smart city concept

Elements of smart city
Underlying technologies and their adoption
Guidelines for smart city transformation based on diversification and vertical integration
Smart city maturity models


Part 3: Smart City Economics

The aspect of improving the quality of life
Identifying market opportunities based on new technologies and Society 5.0
Understanding the value added of the innovation ecosystem
Designing new business models for smart cities' and communities’ application


Part 4: Smart Cities, Smart People and Smart Governance

Understanding the interconnections between well-being of people, technologies and governance
The importance of Digital Twins in managing smart cities and communitiesCase Study: Cost-benefit analysis of digital transformation projects in smart cities



Part 5: Smart city issues and initiatives

Obstacles for developing smart cities or communities
Privacy and security concerns
Intelligent Buildings, Smart Transportation and mobility
Financial constraints of smart cities’ development
Case studies of different implementation practices


Part 6: Urban Development and future opportunities

The City as a system of systems
Smart cities macro view & case studies
Big data analysis on city operation data
Smart urban infrastructure and energy system

Course director(s)