A short video by Hoesung Lee, Korea University and vice-chair of the Intergovernmental Panel on Climate Change (IPCC) on carbon pricing and climate change. The video discusses the importance of putting a price on carbon emissions and related activities since climate change is an example of a global externality. Lee further explains the linkages of the environment with economic growth and developmen.

Students will learn the concept of global warming as a negative externality. They will also understand the importance of putting a price on carbon emissions to reduce global warming and the need for global cooperation.