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Economic Externalities

Economic Externalities Reading A reading titled ‘Global Warming and Economic Externalities’ by Armon Rezai, Duncan K. Foley and Lance Taylor, that discusses greenhouse gases (GHG) as a negative externality in global markets. The reading discusses the effect of mitigation investments on the economic well being of current and future generations. It also demonstrates how equilibrium […]

Climate Change- A Market Failure

Climate Change- A Market Failure Reading A reading titled ‘Why do economists describe climate change as a market failure?’ by Alex Bowen, Simon Dietz and Naomi Hicks, that discusses how since climate change does not maximise societal welfare, it is a market failure. The reading focuses on the ‘greenhouse-gas externality’ that describes the indirect impact […]

Naomi Klein discusses ‘This Changes Everything’

Naomi Klein discusses ‘This Changes Everything’ Video A video by award-winning journalist, author and filmmaker, Naomi Klein, at the Cambridge Forum about her book titled, ‘This Changes Everything’. In this video, Naomi Klein summarizes her book and explains why she thinks that capitalism is the real cause for climate change. Students will learn how capitalism, […]

The COVID-19 Pandemic, Recession and Economic Policies

The COVID-19 Pandemic, Recession and Economic Policies Reading A reading by Carbon Brief explaining how countries around the world design economic policies for a ‘green recovery’ from the recession due to the COVID-19 pandemic, by reducing carbon emissions while boosting their economies. Students will be introduced to terms such as green recovery, green stimulus, and […]

Naomi Klein on Capitalism and Climate Change

Naomi Klein on Capitalism and Climate Change Reading This reading is a comprehensive overview of how capitalism has shaped our response and reaction to climate change. This book is divided into three parts – Bad Timing, Magical thinking and Starting Anyway. Bad timing deals with how Free Market Fundamentalism, Invisible Hand and similar economic ideologies […]

Environmental Economics: Climate Change as Market Failure

Impact of Climate Change on Environmental Economics: Climate Change as Market Failure Overview Overview As a High School or Undergraduate Economics teacher, you can use this set of computer-based tools to teach about national/international environmental protection, negative externalities such as global warming, and market failure associated with climate change. This lesson plan allows you to […]

Teaching Opportunity Costs of Greenhouse Gas Emissions

Teaching Opportunity Costs of Greenhouse Gas Emissions Overview Overview As an Undergraduate Economics teacher, you can use this set of computer-based tools to help you in teaching about opportunity costs using an in-class experiment of trading emissions permits for the use of a hypothetical fuel that emits greenhouse gases. Global warming due to greenhouse gas […]

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