Economics and Policies of Climate Change
Being aware of the urgency and importance of climate change is not enough to tackle it effectively. To avoid the worst climate outcomes, decisive action has to be taken. But what realistic options do we have? Since our resources are limited, is it better to act now or wait until we have more advanced and less expensive technology? How big do our abatement efforts have to be? This MOOC will help you understand how economists try to answer these questions and find the optimal course of action.
Monthly Subscription Starting at AED 99 + VAT
- Level Foundation
- المدة 10 ساعات hours
- الطبع بواسطة EDHEC Business School
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Offered by
عن
Being aware of the urgency and importance of climate change is not enough to tackle it effectively. To avoid the worst climate outcomes, decisive action has to be taken. But what realistic options do we have? Since our resources are limited, is it better to act now or wait until we have more advanced and less expensive technology? How big do our abatement efforts have to be? This MOOC will help you understand how economists try to answer these questions and find the optimal course of action. Most important, it will give you the conceptual tools to draw your own conclusions. 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.الوحدات
The Economics of Climate Change
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11
Videos
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3
Readings
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1
Discussion
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1
Assignment
1
Assignment
- Module 1 - Graded Quiz
1
Discussions
- Discussion Prompt Module 1
11
Videos
- Big Plan
- Cost of energy - Part I
- Cost of energy - Part II
- How much energy do we consume ?
- Energy policy design - Part I
- Energy policy design - Part II
- Energy policy design - Part III
- Comparing abatement initiatives and deciding when to act
- Optimal Investment in a Rice Economy - Part I
- Optimal Investment in a Rice Economy - Part II
- Investment Rates in a Rice Economy
3
Readings
- How much energy do we consume ?
- Energy policy design - Part III
- New Reading Rice Economy
The Social Discount Factor
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3
Videos
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1
Readings
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1
Discussion
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1
Assignment
1
Assignment
- Module 2 - Graded Quiz
1
Discussions
- Discussion Prompt Module 2
3
Videos
- The Social discount factor - Part I
- The Social discount factor - Part II
- Gamma discounting
1
Readings
- Note regarding Gamma discounting lesson
The DICE Model
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6
Videos
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1
Readings
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1
Discussion
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1
Assignment
1
Assignment
- Module 3 - Graded Quiz
1
Discussions
- Discussion Prompt Module 3
6
Videos
- Integrated Assessments Models
- DICE - Structure of the Model
- DICE - Temperature Modelling
- DICE - Population
- DICE - Results
- Conclusion of modules 1, 2 and 3
1
Readings
- Additional Material Dice Model and Stern Review
Types of climate change policies
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3
Videos
3
Videos
- Climate change as an economic growth problem
- Types of climate economic policies: mitigation versus adaptation
- Objectives of mitigation policies
Types of mitigation policies
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3
Videos
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1
Readings
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1
Discussion
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1
Assignment
1
Assignment
- Module 4 - Graded Quiz
1
Discussions
- Discussion Prompt Module 4
3
Videos
- Direct climate regulations
- Understand the benefits and limits of carbon taxes
- Carbon pricing
1
Readings
- Additional Material Module 4
Carbon markets around the world
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3
Videos
3
Videos
- Baseline & credit versus cap & trade
- Carbon markets around the world
- EU ETS carbon markets
Carbon instruments and portfolio decisions
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3
Videos
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1
Readings
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1
Discussion
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1
Assignment
1
Assignment
- Module 5 - Graded Quiz
1
Discussions
- Discussion Prompt Module 5
3
Videos
- Prices in carbon markets
- Carbon derivatives
- Uses of carbon derivatives
1
Readings
- Additional Material Module 5
Auto Summary
"Economics and Policies of Climate Change" is a comprehensive and essential course within the Business & Management domain, designed to equip learners with a deep understanding of the economic strategies and policies essential for addressing climate change. This course, offered by Coursera and led by expert instructors, delves into the complex but crucial questions of when and how much we should invest in combating climate change, given our limited resources. Throughout the course, participants will explore two primary economic approaches: the net-present-value method and Integrated Assessment Models (IAMs), with a particular focus on the DICE model created by Nobel laureate Professor Nordhaus. These methodologies will help learners understand how to compare future benefits and costs with present expenditures and how simplified models can guide optimal policy decisions. The course also covers various economic policies available to decision-makers, such as carbon taxes, regulations, standard-setting, and emissions trading markets. This knowledge will enable learners to critically assess and form their own informed opinions on effective climate policies. Spanning approximately 600 minutes, this foundational-level course is ideal for individuals interested in the intersection of economics and climate change, regardless of their prior specialized knowledge. Basic familiarity with economic concepts is helpful, and taking the first MOOC in the specialization is recommended for a solid understanding of the physical and technological aspects involved. Subscription options include Starter and Professional plans, providing flexible access to this valuable learning experience. Join this course to gain the conceptual tools needed to actively participate in the global effort to address climate change through informed and effective economic policies.
LIONEL MARTELLINI -EDHEC BUSINESS SCHOOL
RICCARDO REBONATO - EDHEC BUSINESS SCHOOL