In this course, you will learn:
- Examine the causes of climate change and its effects on different countries and generations.
- Understand the worldwide climate change regime's legal concepts, norms, and institutions.
- Applying the Theory of Externalities, explain how markets work and fail.
- Compare and contrast taxes and cap-and-trade programmes, focusing on their efficiency and effectiveness.
- Demonstrate intercultural sensitivity and awareness of other countries' social and economic perspectives.
1: Introduction to Climate Change and the Social Cost of Carbon
- The Scientific Evidence
- Key Polluting Countries
- Introduction to Carbon Accounting
- Projected Impacts
- Valuing Greenhouse Gas Emissions: Introduction to the Social Cost of Carbon
2: Evolution and Architecture of the International Climate Change Regime
- The United National Framework Convention on Climate Change (UNFCCC)
- The Kyoto Protocol
- The Paris Agreement: A new paradigm of international cooperation
3: Climate Change Policy and The Theory of Externalities
- Introduction to the theory of Externalities
- The Pigouvian Tax
- Problems with Pigouvian Taxation
4: How Prices Can Save the Global Climate: The Standard-Price-Approach
- The Standard-Price-Approach
- Taxes vs. Cap-and-Trade
- Efficiency and Effectiveness