The course starts with an overview of how the modern economics relates to the challenges that have been created by ongoing climate changes and why the global heating can be seen as a market failure. Thereafter follows three separate yet coherent blocks each of which is concluded with a study visit linked to the focus of the block.
The first block is about the resources of nature, such as sustainability and overexploitation of the resources of the planet. Here, driving forces of the increased concentration of carbon dioxide in the atmosphere are also discussed, as well as global distribution issues with regard to climate adaptation.
Block two deals with finance, innovations and economic growth. Here, the students will deal with basic economic studies about growth and climate such as the Stern report, climate models of William Nordhaus and the endogenic theory of growth. The block treats the financial costs for a climate adaptation, which meets the aim of the Paris Agreement and how these can be created. Further, preconditions and barriers for green innovations are studied both theoretically and empirically.
The final block is policy oriented and deal with global, national, company and individual levels. It treats questions such as international agreements, emission trading, regulations, taxes and subsidies. The block also studies how both mandatory legislation and self-regulation influence the companies' will and ambitions to green adaptation. Here, differences are also studied between different countries and industries