WISO300615 Economics of climate change
- Type
- Seminar
- Semester hours
- 2
- Lecturer (assistant)
- Schmid, Erwin
- Organisation
- Sustainable Economic Development
- Offered in
- Sommersemester 2026
- Languages of instruction
- Englisch
- Content
-
Introduction in Paretian welfare economics, social welfare, welfare functions and social indifference curves, Pareto principles, fairness principles, welfare criteria, social optimality, compensation tests, theory of second best, theory of market failure, valuation methods.
- Economics of external effects; external costs and benefits; economic instruments of internalizing external effects (e.g. tax, quota and standards, cap and trade); welfare analysis and merits of economic instruments; the role of uncertainty in selecting instruments; Coase theorem; basics in information and contract theory (i.e. adverse selection, moral hazard, screening, signaling).
- Economics of public goods; public goods and social optimality; private and social efficient prices for public goods; quasi-public goods.
- selected topics: e.g. enewable energy economics, water economics, climate economics
- Previous knowledge expected
-
Introduction in micro-economics and environmental and resource economics
- Objective (expected results of study and acquired competences)
-
basic and advanced knowledge in the contents of the course
You can find more details like the schedule or information about exams on the course-page in BOKUonline.