Examines the economic impact of climate change, the costs of mitigation, and the challenges that climate change poses to conventional approaches to policy analysis, including among others: the paradoxes of intergenerational discounting; the difficulty of taking account of extreme uncertainty and irreversible risks, and incorporation of non-monetized values into a cost-benefit framework. The class will look closely at the carbon tax versus cap and trade debate, and beyond it. We will also examine climate policy in the US and China, competing perspectives on global equity, and strategies for dealing with the free-rider problem in global negotiations. Prerequisites: introductory economics and permission of instructor.
Prerequisites: Permission of Instructor