Undergraduate Course: Issues in Climate Change Economics (ECNM10077)
|School||School of Economics
||College||College of Humanities and Social Science
|Credit level (Normal year taken)||SCQF Level 10 (Year 3 Undergraduate)
||Availability||Available to all students
|Summary||The course intends to cover various topics related to climate change economics. These topics can be categorised as follows. Firstly, fundamental topics that are necessary for the understanding of any issues in climate change economics. Secondly, advanced topics that address new and emerging issues in the literature. All topics are of equal importance.
The course will begin with a necessary but brief introduction to climate change science. The bulk of the course will then focus on a more in-depth analysis of a range of issues in climate change economics, mixing economic theory and practical applications.
The course will not only provide insights into recent research and policy in this topical and important field, but also encourage students to think more deeply about applying standard economic analyses in complex and practical settings.
To provide students with an in-depth understanding of:
- fundamental concepts of consideration in the economics of climate change
- a number of emerging and recent issues in the literature
The topics covered, which may vary from year to year, are likely to be drawn from:
1. Review of Climate Change Science
2. Key Concepts in Climate Change Economics (1): policy instruments, political economy, uncertainty, dynamics, limitations, green paradox and carbon leakage
3. Key Concepts in Climate Change Economics (2): policy instruments, political economy, uncertainty, dynamics, limitations, green paradox and carbon leakage
4. Time and Discounting
5. Technological Transfers and Direct Technical Change
6. Uncertainty, Irreversibility and Investment
7. The Economics of Catastrophes, Fat Tails and the Dismal Theorem
8. Regulating Risk with Liability
9. Climate Change Agreements
10. Behavioural Economics and Climate Change Policy
12. The Economics of Market Stability Reserve in the EU ETS
13. Climate Change and Migration
14. The Economics of Geoengineering
15. Experimental Economics and Climate Change Policy
16. Climate and Energy Policy Interaction
17. Climate Change Modelling: Computable General Equilibrium Models (CGM), Integrated Assessment Models (IAMs), etc.
18. Integrating Carbon Markets
19. Cost Benefit Analysis
Entry Requirements (not applicable to Visiting Students)
|| Students MUST have passed:
Economics 2 (ECNM08006)
||Other requirements|| None
Information for Visiting Students
|Pre-requisites||Students should usually have at least 3 Economics courses at grade B or above (or be predicted to obtain this) for entry to this course. This MUST INCLUDE courses in Macroeconomics, Microeconomics and Statistics. We will only consider University/College level courses.
|High Demand Course?
Course Delivery Information
|Academic year 2017/18, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Seminar/Tutorial Hours 4,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||30% Essay that covers technical and policy briefings
70% Final Examination
||Students are expected to prepare for and participate during the tutorials, which will be technical in nature and serve as practice for the exam. Feedback on their answers will be provided during the tutorials.
||Hours & Minutes
|Main Exam Diet S2 (April/May)||Issues in Climate Change Economics||2:00|
On completion of this course, the student will be able to:
- Have a knowledge and understanding of the basics of climate change science
- Have a strong knowledge and understanding of: 1.fundamental concepts, issues, policy options and models in climate change economics 2. recent and ongoing research activity in the literature
- Think independently and coherently about climate change policies and be able to judge and advise on their implications
|Graduate Attributes and Skills
||Research and Inquiry
- B1. The ability to identify, define and analyse theoretical and applied economic problems and identify or devise approaches to investigate and solve these problems.
- B3. The ability to critically assess existing understanding of economic and social issues, the limitations of that understanding and the limitations of their own knowledge and understanding of those issues.
- B4. The ability to question the principles, methods, standards and boundaries of economic knowledge
Personal and Intellectual Autonomy
- C1. The ability to be independent learners who take responsibility for their own learning, and are committed to continuous reflection, self-evaluation and self-improvement.
- C4. The ability to collaborate and debate effectively to test, modify and strengthen their own views.
- D1. The ability to make effective use of oral, written and visual means to critique, create and communicate understanding.
- D2. The ability to further their own learning through effective use of feedback.
- D3. The ability to use communication as a tool for collaborating and relating to others.
- E1. The ability to manage tasks and also skills in time-management.
- E4. The ability to work effectively with others, capitalising on their different thinking.
|Additional Class Delivery Information
||1 x 2:00 hour lecture per week for 10 weeks
|Course organiser||Mr Alaa Al Khourdajie
|Course secretary||Mrs Anna Domagala
Tel: (0131 6)51 5305