Last modified: 14 Feb 2025 09:16
Climate change presents one of the most formidable global challenges. This course offers an extensive introduction to the economics of climate change and relevant policy responses which shape societies’ efforts to mitigate the effects of climate change. It explores how the toolkit from economics and finance can be utilised to assess and evaluate carbon management strategies in the realm of climate policy, both from a national and international perspective.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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The fundamental aims of the course are:
Climate change represents a significant market failure, wherein the economic system fails to properly account for the environmental costs associated with greenhouse gas emissions as a consequence of unsustainable production and consumption practices. Upon understanding the global public good nature of climate change, students will gain an understanding of the estimation of damage costs from climate change and how this can support the evaluation of climate change mitigation options. Students will learn about the economic challenges surrounding international climate agreements and how this shapes climate mitigation efforts, including latest discussions on geoengineering in the context of climate agreements. Alongside the economic underpinnings, students will learn about various financial instruments and strategies that can be used in managing environmental change in the context of global warming. Throughout the course students will develop a critical understanding of the economics of climate policy and gain an appreciation of the complex financial challenges. By the end of the course, students will be equipped with the knowledge and tools needed to address and assess climate change in relation to sustainability.
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 50 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Feedback will be provided with use of a rubric |
Word Count | 3000 | |
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Understand the main economic arguments used to assess climate change mitigation options and the distributional implications of climate change and climate change policy |
| Procedural | Analyse | Use basic economic concepts to analyse international cooperation on climate change policy |
| Assessment Type | Summative | Weighting | 50 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Feedback will be provided with use of a rubric |
Word Count | 3000 | |
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Evaluate | Critically evaluate climate policy using the key concepts and tools relevant to carbon finance |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2-hour exam Individual feedback will be provided upon request |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Understand the main economic arguments used to assess climate change mitigation options and the distributional implications of climate change and climate change policy |
| Procedural | Analyse | Use basic economic concepts to analyse international cooperation on climate change policy |
| Conceptual | Evaluate | Critically evaluate climate policy using the key concepts and tools relevant to carbon finance |
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