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MOOC List is learner-supported. When you buy through links on our site, we may earn an affiliate commission.
In the first part of the MOOC, you will learn about the two main approaches used by economists to determine when and how much we should invest in the fight against climate change. The first method is the net-present-value approach. Here the social discount rate plays a central role in determining optimal policy, by showing how future benefits and costs can be compared and made comparable (‘present-valued’) with expenditures today. In the second approach you will learn how Integrated Assessment Models (IAMs) work. In particular, you will study in detail the strengths and weaknesses of one of the most popular IAMs, the DICE model, developed by Nobel laureate Professor Nordhaus. This model tries to figure out the optimal course of action by providing a simplified account of the science, the technology and the economics of the problem.
The second part of this MOOC then explores the different types of economic policies that decision-makers can adopt. You will be introduced to different methods used to control emissions, such as carbon taxes, regulations and standard-setting. You will also learn about the most developed emissions trading markets around the world and their effects on the economy.
This MOOC is for those who wish to understand the economics of climate change and use this understanding to form their own informed opinion about the policies on which we can rely to tackle it. It is not necessary to have specialized prior knowledge, apart from basic familiarity with economic concepts such as utility functions. We do suggest, however, taking the first MOOC of this specialization before starting this one in order to gain a simple but solid understanding of the physical and technological aspects of the problems.
Course 2 of 4 in the Climate Change and Sustainable Investing Specialization.
Syllabus
WEEK 1: The Economics of Climate Change
WEEK 2: The Social Discount Factor
WEEK 3: The DICE Model
WEEK 4: Climate change economic policies
WEEK 5:How do Carbon Markets work?
MOOC List is learner-supported. When you buy through links on our site, we may earn an affiliate commission.
MOOC List is learner-supported. When you buy through links on our site, we may earn an affiliate commission.