The Economics of Climate Change

Autumn Term 2014

363-0577-00L The Economics of Climate Change

Synopsis: Climate change is one of the most pressing issues that governments and the global community have to face and represents one of the biggest challenges to the modern energy system. This course outlines the problem of climate change and discusses the economic solutions (both domestic and international) to this problem.

Aim: This course has a number of objectives: (i) To outline the problem of climate change (ii) to discuss and compare the theoretical economic solutions to combating climate change (iii) to present existing climate change mitigation actions in an economic context and (iv) to outline possible future climate policy issues.

Content: Economics of pollution, Optimal level of greenhouse gases, International Environmental Agreements, Tradable pollution permit markets, : Carbon Taxes, Technological innovation and R&D, The optimal approach to control Climate change, The future of Climate change policy;

Literature: Perman et al. (2003), Natural Resource and Environmental Economics, Pearson Addison Wesley.
Also, Journal articles will be cited

Schedule: Wednesdays 10:00 a. m. - 12:00 p. m. at LFW E 13

Slides

Lecture 1: Introduction (PDF; 1615 kB)

Lecture 2: Economics primer (of pollution) (PDF; 336 kB)

Lecture 3: Optimal level of greenhouse gases I (PDF; 1520 kB)

Lecture 4: Optimal level of greenhouse gases II (PDF; 974 kB)

Lecture 5: Intragenerational equity in climate policy (PDF; 786 kB)

Lecture 6: International Environmental Agreements (PDF; 1530 kB)

Lecture 7: Policy instruments I (PDF; 1000 kB)

Lecture 8: Policy instruments II: Regulation via Prices vs. Quantities (PDF; 835 kB)

Lecture 9: Credit-based Mechanisms (PDF; 1220 kB)

Lecture 10: Climate Policy in Switzerland (PDF; 1660 kB)

Lecture 11: Multiple Policy goals (PDF; 377 kB)

Lecture 12: Voluntary approaches to climate change mitigation (PDF; 1400 kB)

Lecture 13: Repetition (For preparation, please consider the downloadable mock exam.)

(PDF; 335 kB)

Lecture 14: Repetition/Results from COP 20 in Lima and Group Work (PDF; 320 kB)

Problem Set: Optimal Instruments and CDM (Find an example solution here. )

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