• Critically assess the causes of Climate Change and distinguish its impacts in relation to different countries and generations,
• Understand the legal principles, rules and institutions of the international climate change regime,
• Explain how markets function and fail by applying the Theory of Externalities,
• Compare and contrast Taxes and Cap-and-Trade, with a focus on efficiency and effectiveness,
• Demonstrate intercultural awareness and sensitivity to the social and economic perspectives of other nations.

Week 1: Introduction to Climate Change and the Social Cost of Carbon

• The Scientific Evidence
• Key Polluting Countries
• Introduction to Carbon Accounting
• Projected Impacts
• Valuing Greenhouse Gas Emissions: Introduction to the Social Cost of Carbon

Week 2: Evolution and Architecture of the International Climate Change Regime

• The United National Framework Convention on Climate Change (UNFCCC)
• The Kyoto Protocol
• The Paris Agreement: A new paradigm of international cooperation

Week 3: Climate Change Policy and The Theory of Externalities

• Introduction to the theory of Externalities
• The Pigouvian Tax
• Problems with Pigouvian Taxation

Week 4: How Prices Can Save the Global Climate: The Standard-Price-Approach

• The Standard-Price-Approach
• Taxes vs. Cap-and-Trade
• Efficiency and Effectiveness

"Great course, just enough detail too learn from but not too much that you are bogged down in the minutiae. Great overview!!"

- Past CCL201x Student