Climate Economics: Scientific and Economic Foundations

Dienstag, 10.03.2020

In this course we first learn the fundamental scientific principles which drive the long-run consequences of climate change. Then we explore how to trade off the long-run costs of these consequences against the immediate costs of greenhouse gas abatement, in order to derive optimal global mitigation policies. To this end, we briefly review Nordhaus’ DICE model, the most prominent Integrated Assessment Model of climate change mitigation, and its connections to the neoclassical growth model. We then explore several shortcomings of the DICE model, namely the absence of non-market damages, its negligence of the intergenerational nature of climate change mitigation and its disregard for the high uncertainty of the damages of climate change, and discuss how incoorporating these aspects impacts on the optimal mitigation policy.

Dozierende(r): Prof. Dr. Ralph Winkler
10.03.2020:12:15 - 14:00
Ort: 1. Etage, 106
Hochschulstrasse 4

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