Climate Change Economics

The future cost associated with extreme climate change is fast becoming a topic that policy makers and sectors can no longer ignore. Real change cannot be effected without governments, businesses and individuals working towards a shared goal. This pathway explores the economic identities that model the impact of anthropogenic emissions on the earth, as well as exploring why climate change is an example of market failure.

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8 videos • 1 hour 22 minutes

  • The Physical Risks of Climate Change

    In this video, Amit explores the impact of the physical damage of climate change on the macroeconomic economy and stresses the importance of being aware and intervening with the correct policy response or the impact of climate change will spread and intensify.

    Amit Kara12:30

  • Climate Policy Intervention

    In this video, Amit talks about the need for government intervention to tackle the climate change crisis. He further talks about market failure, externalities, the case for governments to intervene through Pigouvian taxes such as carbon tax and new regulation.

    Amit Kara12:01

  • Modelling the Path to Net Zero

    In the last two videos on this series, Amit explained how human behaviour is directly responsible for climate change and the need for government intervention to tackle the climate change crisis. In this video he quantifies the link between human activity and emissions by building a simple scenario model known as Kaya identity.

    Amit Kara13:28

  • Carbon Tax and Regulation

    In the fourth video on his series of Macroeconomics of Climate Change, Amit touches on the different types of interventions that the government can introduce. The key focus of this video is government policy.

    Amit Kara13:36

  • Integrated Assessment Models I

    In the fifth video of this series on the Macroeconomics of Climate Change, Amit focuses on models that are used to assess the economic impact of climate change. The class of models he discusses is this video are Integrated Assessment Models or IAMs. Amit outlines why IAMs are the most widely used models among social scientists specialising in climate-related issues. 

    Amit Kara11:09

  • Integrated assessment models II

    In the sixth video of this series on the Macroeconomics of Climate Change, Amit outlines why IAMs have been and will remain the workhorse models for climate economics and policy analysis. In this video, Amit continues the discussion around IAMs and completes the model circle. He also discusses how these models can be used to justify climate action.

    Amit Kara06:44

  • Central Banks and Climate Risk Management

    In this video, Amit discusses climate change and the role that central banks can play in helping navigate the economy towards net zero. Amit makes a compelling case for why climate change risk management should be included in the mandate for every central bank. 

    Amit Kara12:35

  • Foundational

    Central Bank Climate Stress Tests

    In the final video of this series, expert economist, Amit Kara talks about stress testing. Stress tests are conducted by financial institutions or regulators to assess the resilience of financial institutions or the financial system as a whole. This video focuses specifically on climate stress testing.

    Amit Kara17:42

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