A model/simulator to understand the relationships between climate change, economics, and social factors.

Students will customize parameters related to policy (such as emissions-related tax or treaty), climate (such as levels of climate sensitivity and harm), and economy (such as growth and energy efficiency) to observe the corresponding effects of climate change on the economy and society.

Use this tool to help your students find answers to:

  1. Using the simulator, compare the abatement costs for different policy settings—a carbon tax scenario, a climate treaty scenario, and a “business as usual” scenario.
  2. Using the simulator, observe and discuss how changes in the price of clean energy and changes in the extent of harms from climate change will affect the economy and society.

About the Tool

Tool Name webDICE Model Dynamic Integrated Climate Economy
Discipline Economics
Topic(s) in Discipline Consumption per capita, Total factor productivity, Social cost of carbon, Abatement, Carbon tax
Climate Topic Energy, Economics, and Climate Change
Type of Tool Model/Simulator
Grade Level Undergraduate
Location  Global
Language English
Translation
Developed by The Center for Robust Decision Making on Climate and Energy Policy (RDCEP) at the University of Chicago
Hosted at The Center for Robust Decision Making on Climate and Energy Policy (RDCEP) at the University of Chicago
Link http://webdice.rdcep.org
Access Online
Computer Skills Intermediate

Economics