As an undergraduate Economics teacher, you can use this set of computer-based tools to help you in teaching cost-benefit analysis.
This lesson plan will help students to understand the principles of cost-benefit analysis. The activities will allow students to apply cost-benefit analysis to global climate change, in general, and to carbon abatement (an action to mitigate climate change).
Thus, the use of this lesson plan allows you to integrate the teaching of a climate science topic with a core topic in Economics.
As an undergraduate Economics teacher, you can use this set of computer-based tools to help you in teaching cost-benefit analysis.
This lesson plan will help students to understand the principles of cost-benefit analysis. The activities will allow students to apply cost-benefit analysis to global climate change, in general, and to carbon abatement (an action to mitigate climate change).
Thus, the use of this lesson plan allows you to integrate the teaching of a climate science topic with a core topic in Economics.
The tools in this lesson plan will enable students to:
| Grade Level | Undergraduate |
| Discipline | Economics |
| Topic(s) in Discipline | Cost-Benefit Analysis, Carbon Abatement, Energy Economics, Climate Mitigation and Adaptation |
| Climate Topic | Climate Economics; Policies, Politics, and Environmental Governance |
| Location | Global |
| Language(s) | English |
| Access | Online / Offline |
| Approximate Time Required | 150 – 180 mins |
| Share | |
| Resource Download |
Here is a step-by-step guide to using this lesson plan in the classroom/laboratory. We have suggested these steps as a possible plan of action. You may customize the lesson plan according to your preferences and requirements.
Reading (20 – 30 min)
Introduce the topic of cost-benefit analysis and its principles by using the reading “An Introduction to Cost Benefit Analysis” by Thayer Watkins, Department of Economics, San Jose State University is available
Reading (~45 – 60 min)
Next, introduce the economic analysis of climate change and discuss cost-benefit studies of global climate change by using the reading “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” from “The Economics of Global Climate Change”
The reading, “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” is in Ch. 2 (pg. 15-25) of “The Economics of Global Climate Change”, written by Jonathan M. Harris, Brian Roach, and Anne-Marie Codur, Global Development and Environment Institute, Tufts University, and is available
This reading explores and compares the methodology used by various economic models for cost-benefit analysis of climate change.
Classroom/Laboratory activity (~80 min)
Now, explore the topic further through a hands-on activity, “The Economics of Global Climate Change”,to perform costbenefit analysis for carbon emissions abatement.
The classroom/laboratory activity “Abating Carbon Emissions”, developed by Gautam Sethi (Bard College), Curt Gervich (SUNY Plattsburgh), and Robyn Smyth (Bard College), is available at here
In this activity, carbon abatement is considered to be an action that will mitigate climate change, and the costs and benefits of abating carbon emissions are calculated.
Use this lesson plan to help your students find answers to:
| 1 | Micro-lecture (video) | A micro-lecture (video), “Quantifying the Economic Cost of Climate Change”, delivered by Solomon M. Hsiang, Climate Risk Expert and U.C. Berkeley Professor of Public Policy, from RMSConnection: This can be accessed here. |
| 1 | Reading, “An Introduction to Cost Benefit Analysis” | Thayer Watkins, Department of Economics, San Jose State University |
| 2 | Reading, “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” from “The Economics of Global Climate Change” | Jonathan M. Harris, Brian Roach, and Anne-Marie Codur,, Global Development and Environment Institute, Tufts University and Global Development Policy Center, Boston University |
| 3 | Classroom/Laboratory activity, “Abating Carbon Emissions” | Gautam Sethi (Bard College), Curt Gervich (SUNY Plattsburgh), and Robyn Smyth (Bard College); available on SERC’s InTeGrate portal |
| 4 | Additional Resources | Solomon M. Hsiang, Climate Risk Expert and U.C. Berkeley Professor of Public Policy; From University of California Television (UCTV) |
| Grade Level | Undergraduate |
| Discipline | Economics |
| Topic(s) in Discipline | Cost-Benefit Analysis, Carbon Abatement, Energy, Economics, and Climate Change Miti |
| Climate Topic | Energy, Economics, and Climate Change; Policies, Politics, and Environmental Governance |
| Location | Global |
| Language(s) | English |
| Access | Online / Offline |
| Approximate Time Required | 150 – 180 mins |
| Share | |
| Resource Download |
Here is a step-by-step guide to using this lesson plan in the classroom/laboratory. We have suggested these steps as a possible plan of action. You may customize the lesson plan according to your preferences and requirements.
Reading (20 – 30 min)
Introduce the topic of cost-benefit analysis and its principles by using the reading “An Introduction to Cost Benefit Analysis”
The reading “An Introduction to Cost Benefit Analysis” from Thayer Watkins, Department of Economics, San Jose State University is available
Reading (~45 – 60 min)
Next, introduce the economic analysis of climate change and discuss cost-benefit studies of global climate change by using the reading “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” from “The Economics of Global Climate Change”
The reading, “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” is in Ch. 2 (pg. 15-25) of “The Economics of Global Climate Change”, written by Jonathan M. Harris, Brian Roach, and Anne-Marie Codur, Global Development and Environment Institute, Tufts University, and is available
This reading explores and compares the methodology used by various economic models for cost-benefit analysis of climate change.
Classroom/Laboratory activity (~80 min)
Now, explore the topic further through a hands-on activity, “The Economics of Global Climate Change”,to perform costbenefit analysis for carbon emissions abatement.
The classroom/laboratory activity “Abating Carbon Emissions”, developed by Gautam Sethi (Bard College), Curt Gervich (SUNY Plattsburgh), and Robyn Smyth (Bard College), is available at here
In this activity, carbon abatement is considered to be an action that will mitigate climate change, and the costs and benefits of abating carbon emissions are calculated.
Suggested questions/assignments for learning evaluation
Use the tools and the concepts learned so far to discuss and determine answers to the following questions:
Use this lesson plan to help your students find answers to:
| 1 | Micro-lecture (video) | A micro-lecture (video), “Quantifying the Economic Cost of Climate Change”, delivered by Solomon M. Hsiang, Climate Risk Expert and U.C. Berkeley Professor of Public Policy, from RMSConnection: This can be accessed here. |
| 1 | Reading, “An Introduction to Cost Benefit Analysis” | Thayer Watkins, Department of Economics, San Jose State University |
| 2 | Reading, “Economic Analysis of Climate Change: Cost-Benefit Studies of Global Climate Change” from “The Economics of Global Climate Change” | Jonathan M. Harris, Brian Roach, and Anne-Marie Codur,, Global Development and Environment Institute, Tufts University and Global Development Policy Center, Boston University |
| 3 | Classroom/ Laboratory activity, “Abating Carbon Emissions” | Gautam Sethi (Bard College), Curt Gervich (SUNY Plattsburgh), and Robyn Smyth (Bard College); available on SERC’s InTeGrate portal |
| 4 | Additional Resources | Solomon M. Hsiang, Climate Risk Expert and U.C. Berkeley Professor of Public Policy; From RMSConnection |
