Economics of Climate Change
Economics 40534
Spring 2023
Professor Nelson Mark
Some Useful and Interesting Climate Websites
US Environmental Protectation Agency
NASA
NOAA (National Oceanic and Atmospheric Administration)
Course Schedule
Week 1. The Science of Climate Change and Emission Scenerios
January
17-19
Read: Tol, chapters 1 and 2
WW
chapter 1, 5 and 6
Pope
Francis encyclical (optional) (full
text here)
Slides: Slide Deck 01
Week 2. Empirical Evidence on Economic Damages
January
24 (quiz 1)
January
26 (problem set 1).
Read: Tol chapter 5.1
Tol
chapter 6
Heal and Park. “Temperature Stress and Direct
impact of Climate Change”.
Slides: Slide Deck 03
Problem set 1: Excel File for PS01 and Problem Set 1
Week 3. Empirical evidence (continued)
January 31 (quiz 2)
Read (look
over introduction, data, main results):
Cook, Nikolai and Anthony Heyes,
“Brain freeze: outdoor cold and indoor cognitive performance”.
Somanathan, et
al. (2021) “The Impact of Temperature on Productivity and Labor Supply:
Evidence from Indian Manufacturing”
Cachon, Gerald P., Santiago
Gallino, and Marcelo Olivares, “Severe Weather
and Automobile Assembly Productivity”
New York
Times article on Climate Start-Ups
Slides: Slide Deck 04
For Thursday:
Read: Carleton
and Hsiang. “Social and Economic Impacts of Climate”.
Hsiang and many coauthors.
“Estimating Economic Damage from Climate Change in the United States.”
Slides: Slide Deck 05
Week 4: Indirect Evidence on Economic Damages
February 7 (quiz 3) on Dell, Jones and Olken
Read: Dell,
Jones, and Olken,
“Temperature Shocks and Economic Growth.”
Slides: Slide Deck 06
February 9
Read: Berg,
Curtis, and Mark, “GDP and Temperature”.
Problem set 2: Hard copy here
Week 5: Policy Instruments
February 14 (quiz
4).
Read: Tol
chapter 4.1-4.4 for Tuesday. Quiz will cover this part. Read for basic ideas,
not details. Also pay attention to the Boxes.
Slides: Slide Deck 07
Week 6: Policy Instruments (continued)
February 21 NO
QUIZ
Read Tol chapter
4.7-4.10
February 23
Read Tol Chapter
9.1-9.3 and Chapter 10.2
Problem
Set 3. Due Tuesday 2/28/2023 in class.
Week 7: Uncertainty in Climate Change Economics
February 28: Slide Deck 09
Week 8: Review for midterm and midterm.
Week 9: Thursday March 23. Uncertainty (continued) Notes on uncertainty
Week 10: Tuesday March 28 Uncertainty (continued).
Thursday March
30: Uncertainty: The Dismal Theorem
Week 11: Tuesday April 4: Overview of Tol’s
Integrated Assessment Model (MLIAM)
Thursday April 6:
We start building the model. Bring your laptop to class.
Excel worksheet: MLIAM01_Class.xlsx
Week 12: Tuesday April 11: Excel worksheet: MLIAM02_Class.xlsx
Week 13: Tuesday April 18: Excel worksheets: MLIAM03_Class.xlsx,
MLIAM04_Class.xlsx and some notes: Notes MLIAM02-04
Thursday April
20: Use this Excel worksheet: MLIAM05.xlsx to do Problem Set 6
Week 14: All my notes on MLIAM and MLIAM06_Class.xlsx to compute the SCC
Problem sets 4-6 solutions:
Final Exam Location 138
DBRT 1:45-3:45 p.m. Monday 8 May.