Overview
Economic modeling of climate policy is a vital tool for understanding the complex interactions between climate change and economic systems. By using various modeling techniques, economists can analyze the potential impacts of different policies, helping policymakers make informed decisions that bala...
Key Terms
Example: Countries implement carbon pricing to incentivize companies to lower emissions.
Example: A cost-benefit analysis of a new renewable energy project shows long-term savings.
Example: Stakeholders in climate policy include governments, businesses, and environmental groups.
Example: Assuming constant economic growth is a common model assumption.
Example: Investing in renewable energy can reduce reliance on fossil fuels.
Example: The economic impact of a new climate policy can be measured in job changes.