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Mini-Course
The Economics of Global Warming
Roger Guesnerie
- Professor, Collège de France
- Visiting Professor, Harris School of Public Policy Studies
Course Details
Dates: April 20-23, 2009
Time: 12:00 - 1:20 p.m.
Location: Harris School, 1155 E. 60th Street, Quiet Study Area
RSVP online.
Course Overview
Coinciding with Earth Day 2009, this course aims to explore the economics of global warming and provide a framework for assessing and designing climate policies. Students will learn the scientific facts, economic models and political issues that have led to global climate change and that contribute - or impede - the policy process. The first lecture will provide a broad introduction to the climate problem while the second and third lectures will examine the pace and design of climate policies.
Syllabus
The three lectures will cover the following topics:
April 20 - The Climate Problem and Its Economic Side
This lecture will provide a broad overview of the facts and scientific assessments of the global warming problem. A focus will be placed on the role of economic activity in the release of greenhouse gases and in particular the past, present, and expected future contributions of different sectors and actors to carbon dioxide emissions. Also presented will be the technical options of climate policies and an introductory discussion of costs. Other topics to be covered in the first lecture include the Kyoto protocol, the quotas-versus-taxes debate, and the question of the involvement of developing countries.
Listen to the lecture | Download the presentation (pdf)
April 22 - The Pace of Climate Policies
The determination of the optimal pace of climate policies may be viewed as the outcome of a general cost-benefit analysis. One key issue is the choice of the appropriate social discount rate and the question has generated hot debate among economists. These debates will be briefly presented, with an emphasis on those originating from the recent Stern Review. Visiting Professor Guesnerie will present his own view on the conflict between economic reason and ecological intuition and will show how the solution is affected by ecological sensitivity, relative risk aversion, economic performance, and intergenerational altruism.
Listen to the lecture | Download the presentation (pdf)
April 23 - The Design of Climate Policies
This lecture will come back to the question of the design of climate policies, a question raised in the first lecture. Three lines of reflection will be presented:
- It will be argued that the standard "tax versus quota" debate has to be reassessed in order to take full attention at the interaction between climate policies and the markets for fossil fuels.
- The basic options of climate treaty will then be considered.
- The experience of the European Trading Scheme will be presented, including successes, problems, and shortcomings.
Listen to the lecture | Download the presentation (pdf)
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