Economics of Climate Change

Description: The training integrates climate, the economy, and the policy issues that emerge in the training of attempts by countries to address global warming. The main focus of the training is the presentation of a unified framework of climate and the economy, along with their interactions, which is used to show how climate change policies are derived. Emphasis is also given to introducing learners to the new macroeconomics of climate change and mathematical methods which are used in climate change and welfare-economics.

Content: The training will cover the following topics:

Topic 1:  Introduction to Climate change

  • Basics and components of the climate system
  • Climate, climate variability, and climate change
  • Greenhouse effect and the carbon cycle
  • Basic terminologies: mitigation, adaptation, resilience, vulnerability
  • Trends and projections of climate variables
  • Facts about sources of emissions
  • The interrelation between climate change and economic development and growth

Topic 2: Climate policy instruments

  • General Principles and considerations
  • Mitigation Policy Responses
  • Climate finance and justice
  • Adaptation to climate change
  • Instrument Choice and Choice Criteria
  • Climate-Related Policies in Developing Countries

Topic 3: Discounting and social cost benefit analysis

  • The Nature of Costs and Benefits
  • Costs of Greenhouse Gas Control
  • Climate change adaptation and mitigation costs
  • Strategies to Consider Abatement Costs
  • Benefits of Greenhouse Gas Control
  • Economics of Vulnerability, Resilience, Adaptation, and Mitigation
  • Impacts of Climate Change on Growth and Development
  • Structural change and competitiveness

Topic 4: Risks and Uncertainty in Climate Change

  • Risks, Expected Value, and Risk Aversion
  • Willingness to Pay for Risk Reduction
  • Uncertainty and Discounting
  • Uncertainty, Irreversibility, Learning, and Insurance
  • The Optimal Timing of Emissions Control
  • The financial risks of climate change

Topic 5: International Cooperation and Climate Policies

  • A Game Theoretic Perspective
    • International Policies and Agreements
    • International Collective Action for Climate Change
    • The Future of Climate Change Agreements.

Target Group: The training is suited to researchers or consultants, Policy makers, NGOs, and sector specific analysts.

Requirement: A minimum of BA/BSc degree in economics and related disciplines with basic knowledge of optimization techniques. 

Duration of the Training:  Seven Days.

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