Model/Simulator: Climate Change, the Economy, and Society

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 Change Economics and Economic Policy
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