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Instructors: Prof. Dr. Hermann Held
Event type:
Interactive class
Displayed in timetable as:
Hours per week:
3
Credits:
6,0
Language of instruction:
English
Min. | Max. participants:
- | 35
Comments/contents:
The lecture delivers an introduction to the coupled energy-climate problem. It focusses on the economics of transforming our energy system, given climate targets. Hereby the lecture is designed for Master of Economics students who would not have some university training on natural science at their disposal. Hence the lecture will also introduce climate dynamics in a condensed way such that it can be utilized for integrated assessment, together with energy economics.
Learning objectives:
At the conclusion of the course the students will have the knowledge and the analytical skills to closer examine specialized future climate economical problems. In particular the students will have acquainted the fundamental concepts of modelling for climate dynamics as well as (constrained) welfare optimization for climate economics. In order to achieve this, the students will need to work through the slides in the aftermath of each lecture and also to deepen their insights with the literature indicated in the beginning of the course. Finally, students are given the chance to further test their level of understanding by giving a short presentation on a specialised subject.
Didactic concept:
Attendance during lectures is not mandatory. However it is recommended because multi-disciplinary contents will be presented at a level of aggregation that is taylored to the needs of integrated assessment modelling of the climate problem. In that sense it is even harder to be substituted by an excellent text book than more disciplinarily oriented lectures.
Outline
- Overview on climate economics: cost benefit vs. cost effectiveness analysis; further dimensions of complexity of the climate problem, in particular risk & uncertainty aspects
- Taylor-expansion climate model; budget approach
- Climate Dynamics: foundations from classical mechanics; definition of climate; qualitative discussion of atmospheric circulation patterns; ocean, biosphere, cryosphere, Keeling curve; Greenhouse gas effect
- Energy economics
- Ramsey model & economic growth
- Overview on integrated assessment modelling of the climate problem with an emphasize on climate economics
- Macro-economics of carbon capture & storage
Literature:
• IPCC-AR5-WGIII (2014). Available for free under http://www.ipcc.ch/report/ar5/wg3/ .
• Nicholas Stern (2006): The Economics of Climate Change – The Stern Review. Available for free on WWW.
• Global Sustainability – A Nobel Cause, Schellnhuber, H. J., M. Molina, N. Stern, V. Huber and S. Kadner (eds.), Cambridge University Press, Cambridge, United Kingdom and New York, USA, ISBN-13:780521769341, 189-204 (2010). Available for free under http://www.nobel-cause.de/book/global-sustainability .
• R. Perman, Y. Ma, J. McGilvray and M. Common (2003), Natural Resource and Environmental Economics.
• José P. Peixoto & Abraham H. Oort, Physics of Climate, AIP Press (1992)
Additional examination information:
Assessment
The assessment of this course consists of
Assignment problems in terms of voluntary oral presentations through which the mark for the final exam can be upgraded.
Home exercises on average every second or third week
A final written exam with all non-electronic media allowed in the last week of the lecture term in the lecture room. An option for a 2nd exam is foreseen for September/October.
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