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University of Cape Town: Climate Change Mitigation in Developing Countries Start Date: May 11 th [MUSIC] The economics of climate change are driven by a phenomenon known as the tragedy of the commons. Additionally, edX offers the option to pursue verified certificates in … This interactive online program is designed for managers, analysts, and leaders from government, corporations, and non-governmental organizations from around the world. Edx offers both individual courses and advanced programs designed to help you learn about climate change in an engaging and effective online learning environment complete with video tutorials, quizzes and more. Syllabus as of January 6, 2019. So that's about 500 gigatons of carbon, and that's enough to raise the earth's temperature eventually by about 1 degree C, which is not a disaster yet. Climate change is the most significant challenge to achieving sustainable development globally, threatening current patterns of growth and poverty reduction whilst creating global injustice and vulnerability. An understanding of the strengths and weaknesses of the economic approach to mitigation of climate change Yet we are well placed with the knowledge and … And that gives you a function that looks like this, and it says that there is an optimum number of sheep that you could graze on this yard that would provide the most food for everybody. As the understanding among financial institutions of the risks and opportunities imposed by climate change becomes more… — Dr. Brian P. Flannery, Science, Strategy and Programs Manager, Exxon MobilCorporation . Using climate change economics, you will evaluate various national and international policy frameworks including carbon markets to mitigate human-induced climate change. Because the true costs of the decision are not being paid by the person who's making the decision. It loses the sort of ethical justification of the way this worked on a short time if you're trying to decide whether to fix your roof in ten years. Then the key concepts of climate-change economics and governance will be introduced, such as market failure, pricing carbon, and the tragedy of the commons. The course will provide a summary of the latest climate science, including climate extremes, impacts and adaptation options, impacts on water, greenhouse gas emissions and value chains. The course will start from the basic climate change science and take you through the core economic concepts, models and analyses related to emission mitigation and then to the ongoing discussions and negotiations on a national and international level. And if I'm not paying for the damage to the common, I won't take that into account, and so that leads to a distortion of the market. Look at local and global climate change initiatives. The first adaptation is the installation of pumps to force water back into Biscayne Bay in areas within the city known for floods. And so it's in your individual interest to continue to add more sheep to this common area long past the optimum number of sheep for the total yield. If we want to protect our planet from dangerous and unprecedented change, first we must understand the science behind climate change. 5 day intensive programme (7 - 11 June 2021) Identify where economics crosses paths with policies for climate action and sustainable development.Strip economic approaches to sustainability down to their essence. But if we keep going, we start getting into warming unlike any the earth has seen in millions of years, and this is bad. This class describes the science of global warming and the forecast for humans’ impact on Earth’s climate. The course covers the theory and practice of carbon pricing and alternative policy instruments for climate change mitigation, and principles and policy approaches for adaptation to climate change. And also, most of the carbon that we're worried about is coal. It makes it harder for the financial interests in the company to decide whether to actually invest in CO2 scrubbing equipment, for example, or whether to just pay for the permits in the future. Whereas the price for emission permits in a cap and trade scheme, where you're buying and selling these emission permits, is sort of floating. So this is based on the idea that you can put money into some sort of a bank account that yields interest and that money will grow through time. I believe that Climate Change Economics can provide an important forum to consider fundamental economic issues that will enhance understanding and improve climate policy deliberations." An obligation in 100 years, like climate change is an obligation that somebody would have to pay for, shrinks down to almost nothing if it's too far into the future. An understanding of the economic arguments as to the relative merits of alternative instruments for the control of climate change, The online version of this course outline is not available, Please visit, Information Systems & Technology Management, 8 Reasons to study postgrad at UNSW Business School, Certificate in Executive Management and Development, Meet our 2020 Full-Time Scholarship Recipients, Digital Enablement Research Network (DERN), Behavioural Insights for Business and Policy, Cyber Security and Data Governance Research Network, ARC Centre of Excellence in Population Ageing Research (CEPAR), Centre for Applied Economic Research (CAER), Centre for Energy & Environmental Markets (CEEM), Centre for Innovation & Entrepreneurship (CIE), Centre for Law Markets and Regulation (CLMR), Industrial Relations Research Centre (IRRC), Economic & Labour Relations Review (ELRR). External means that the cost is not being paid for by the decision maker. The study of climate change offers an opportunity to develop the skills and effective policies to reduce risk and better adapt to a changing environment. In this 4-course, 4 course unit certificate you gain an understanding of the Earth’s climate system and how and why it has changed over time. And it's kinda silly, nobody's gonna put $5 in the bank and let it sit there for 100 years, but this does sort of describe the way that money tends to flow. Climate change has been named as the number one threat to humanity. Climate Change: Economics and Governance. A knowledge of how to undertake an economic appraisal of projects designed to mitigate emissions of greenhouse gases such as the Clean Development Mechanism So the advantage of a tax scheme is that the price of carbon is controlled. © 2021 Coursera Inc. All rights reserved. It would just be a business opportunity. So for one thing, the growth just gets crazy if you don't talk about 100 years instead. In this degree, you will combine a knowledge of the science underpinning climate change with a wide range of economic tools that allow you to understand and develop policies and incentives supporting the transition to a carbon neutral economy. Global Warming I: The Science and Modeling of Climate Change, Construction Engineering and Management Certificate, Machine Learning for Analytics Certificate, Innovation Management & Entrepreneurship Certificate, Sustainabaility and Development Certificate, Spatial Data Analysis and Visualization Certificate, Master's of Innovation & Entrepreneurship. So let's say you have an option to pay $100 now or you could pay, actually by putting that money in the bank now, you could pay $135 in ten years. The advantage of cap and trade might be that the actual emissions are controlled, but a tax could also be sort of tuned up and down to get the emissions down to what you want them to be. This multi-disciplinary course provides an in-depth overview of the economics and governance of climate change, and the risks and opportunities they present for a range of organisations. The course focuses on key knowledge areas of sustainability theory and practice, including population, ecosystems, global change, energy, agriculture, water, environmental economics and policy, ethics, and cultural history. And it turned out to be wildly cheaper than anybody had predicted in advance to cut those emissions. Another issue that comes up in the economic discussion of climate change is an idea known as the discount rate. Business leaders, policy makers and the general public generally seek a lower carbon footprint but struggle to agree on a timely and cost effective pathway to decarbonization. Climate Change Economics and Policy Sanford School of Public Policy Spring 2019 3 credits ENV 640(k) & PPS 585(k) Duke University Time Tuesdays, Thursdays 8-9:15am (Duke) Tuesdays, Thursdays 9-10:15pm (DKU, until 3/10) Tuesdays, Thursdays 8-9:15pm (DKU, after 3/10) Instructor This course will equip you with the fundamentals of International Climate Change Law and Policy. Economics. So the only hard part here is to make the decision. But weighing the costs of climate change versus the costs of mitigating climate change, is kind of fraught with an ethical problem. Another way of describing this economically is as an external cost. Climate Change MOOC. SUST5021 (v.1) SCP549 Sustainability, Climate Change and Economics or any previous version UNIT REFERENCES, TEXTS, OUTCOMES AND ASSESSMENT DETAILS: The most up-to-date information about unit references, texts and outcomes, will be provided in the unit outline. It starts with a brief introduction to the key economic concepts which are useful to analyze the climate change problem (e.g., efficiency and optimality, externalities and public goods, property rights, market failure). Let's say that the amount of lamb chops you could get per sheep decreases as the population of sheep on the common ground increases. A specific focus on applied economics - particularly in regards to climate change and the environment - drew me to LSE. And the advantage of that is that this allows the market to find the cheapest way to meet that obligation to decrease the emissions. You will learn to critically assess Environmental Economics theory and its application to climate change policy, including the use of market-based policy approaches such as environmental taxes and emissions trading. So the way to address this in economic framework is to internalize the cost, which means to make the person who's making the decision pay for it, rather than leaving it for everybody to pay for. Basically, as far as I am concerned, for what that's worth, either one of these would be a fabulous thing. On this course you will explore this science, looking back across 4 billion years of Earth’s history to help you learn the difference between ‘natural’ from ‘human’ induced change… Bottom line: I think it would be a challenge that humankind could beat if we decided to. And then they allow people to buy and sell the right to emit that carbon. Tax, I've also heard the argument, would be easier to implement because it could be, the carbon could be taxed at the source, at the coal mine. So we have a cap and trade system going in the US to control SO2 emissions that lead to acid rain. So the idea originated with a picture of a common yard in a village that farmers could graze their sheep on. So cap and trade, the idea is that you, the governing agency sets the amount of emissions that they are willing to allow. Climate Change courses from top universities and industry leaders. You've seen that we've burned about 300 gigatons of fossil fuel and 200 gigatons of trees we've cut down. Unpack the taxation system. So I made up a totally made up story about sheep to illustrate this idea. Sustainability, Climate Change and Economics. Intended for an audience without much scientific background but a healthy sense of curiosity, the class brings together insights and perspectives from physics, chemistry, biology, earth and atmospheric sciences, and even some economics—all based on a foundation of simple mathematics (algebra). All Economics ... with a two-day simulation of the United Nations’ climate policy negotiations under the Framework Convention on Climate Change (UNFCCC). Syllabus: It's a very comprehensive and extremely tough course to negotiate. The programme comprises three compulsory courses that move from the science of climate change and its impacts, through the key adaptation and mitigation solutions, to the examination of the business response to climate change, and the risks and opportunities it represents. One is a carbon tax, and the other is a scheme called cap and trade. A particular focus will be given to recent advances in the research on the valuation of costs and benefits over time under uncertainty. This collection of free online courses will help you understand what causes global warming, what the effects of climate change are, and how we can limit or adapt to climate change. So I would close by giving the encouraging perspective that most of the carbon we're really concerned about in changing earth's climate is still in the ground. supports HTML5 video. The hard part, in my opinion, is making that decision. Rather than cap and trade, you're trying to tax every, all the power plants. 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