Year of entry: 2018
Course unit details:
Climate Change Economics and Policy
|Unit level||Level 3|
|Teaching period(s)||Semester 1|
|Available as a free choice unit?||Yes|
See course Blackboard pages.
|Unit title||Unit code||Requirement type||Description|
|Environmental Economics IIA||ECON20101||Pre-Requisite||Compulsory|
In addition to ECON20101, students must also have taken at least one of the following to be able to take this course unit (compulsory Pre-Requisite):
- ECON10001 or
- ECON20281 or
The aims of this course are to:
- Introduce students to recent research developments in climate change economics & policy analysis by providing an overview of concepts, formal techniques and a range of practical applications.
- Develop students understanding and ability to critically reflect on the use of these formal methods and quantitative analytical techniques to support decision making in the climate change context.
- Equip students to participate in discussion of climate change policy through an economic lens.
- Provide students with the knowledge and skills required for writing a position paper on a topic covered in the course.
By the end of the course you will:
- Have a solid understanding of humans’ role in global climate change, the inter-temporal efficiency of climate change mitigation measures, and the international distribution of responsibility for climate change policy.
- Be able to identify why market institutions fail in protecting the local and global environment, and describe and articulate effective ways to encourage more coordination and cooperation, design better incentive structures, and promote more protection.
- Be familiar with the main recent statistics and policies with respect to climate change and its mitigation in the UK and internationally and they will be able to explain the economics methods used to analyse and support decisions on mitigation efforts.
- Have developed a rigorous and critical understanding of mitigation approaches and climate policies from an economic perspective.
Topic 0: Introduction to the Course.
Topic 1: Measuring Climate Change, CO2 and the Link between them.
Topic 2: Uncertainty and Climate Damages in Economic Terms.
Topic 3: Mitigation, Discounting or How to Compare Present and Future Consumption.
Topic 4: Pulling it together: Economic Integrated Assessment Modelling.
Topic 5: Policy Instruments and What is used in Practice.
Topic 6: International Environmental Problems.
Teaching and learning methods
Lectures and exercise classes.
- Analytical skills
- Synthesis and analysis of information. Critical reflection and evaluation of research.
- The course assignment requires students to investigate in greater detail a specific problem and come up with a policy proposal. Planning independent work using library, electronic and online resources. Using reporting skills.
- Written communication
- Information retrieval. Time management. Applying subject knowledge.
- Final Exam - 1.5 hours (70% of overall mark).
- Assessed Coursework - position paper (30% of overall mark).
- For the position paper you will receive detailed instructions. Feedback will be given twice (on your first idea for your position paper and outline, respectively).
- Mock exams.
- Series of quiz questions (Blackboard) covering topics in each lecture.
- Class feedback.
- Office hours.
- Discussion boards.
The main textbooks are:
- Tol, R.S.J. (2014), Climate Economics: Economic Analysis of Climate, Climate change and Climate Policy, Edward Elgar.
- Some chapters from: Perman, Ma, Common, Maddison and McGilvray. Natural Resource and Environmental Economics, Fourth Edition. Addison Wesley
- The relevant specific chapters will be indicated before each lecture.
Assigned empirical/applied papers: The text book material will be supplemented with a limited number of assigned empirical/applied papers for each lecture. This information will be on Blackboard well in advance of each lecture. There will also be some class handouts.
|Scheduled activity hours|
|Assessment written exam||1.5|
|Practical classes & workshops||5|
|Independent study hours|
|Grada Wossink||Unit coordinator|