Climate & Economics


The economic model we will explore here is adapted from Nordhaus’s DICE model (Dynamic, Integrated Climate and Economics model).  It is basically a global carbon model wedded to a global economic model.  The model consists of many different parts and to fully understand the model and all of the logic within it is well beyond the scope of this module, but with a bit of background we can carry out some experiments with this model to explore the consequences of different policy options regarding the reduction of carbon emissions.