Environment

• What is the topic of discussion in ECON330 Contemporary Issues in Economic Policy?

  Climate Change
• What is the main idea of the topic "What is global warming going to cost us?"

  Global warming has both positive and negative effects
• Why are heat waves considered a symbol of global warming?

  Heat waves are dangerous and kill people
• What is the estimated number of polar bears according to the Polar Bear Research Group?

  26,000
• What percentage of deaths are caused by cold according to the study published in Lancet in 2015?

  7%
• What is the main cause of global greening according to global studies?

  Carbon dioxide fertilization
• What is the name of the professor who estimated the most important and expensive impacts of climate change?

  William Nordhaus
• What is the expected increase in temperature at the end of the century without any additional climate policies?

  3.5°C
• What is the estimated loss of global GDP due to climate change according to Nordhaus?

  2.9%
• Why is it important to consider adaptation when estimating the cost of climate change?

  Adaptation can reduce the impact of climate change
• What are the main points to consider when estimating the cost of climate change?

  • Temperature increase
  • Sea-level rise
  • Carbon dioxide fertilization
  • Adaptation
  • Economic growth
• Why is banning the use of fossil fuels not a solution to climate change?

  It would forgo the benefits of fossil fuels
• What are the three solutions to fix climate change mentioned in the study material?

  Carbon taxes, technological innovation, and adaptation
• How can carbon taxes help reduce emissions and limit global warming's most damaging effects?

  • Carbon taxes can reflect the cost of emissions in the price of products
  • This will force people to look for cheaper alternatives
  • Carbon taxes can aggressively reduce emissions at a reasonably low cost
• What is the main idea of the topic "How to fix climate change"?

  There are several solutions to fix climate change, including carbon taxes, technological innovation, and adaptation
• How does climate change affect poor countries?

  Climate change hurts poorer countries more than richer countries
• What is the relationship between climate change and economic growth?

  Climate change can reduce economic growth
• What is the role of innovation in solving big problems like climate change?

  • Innovation can provide new solutions to reduce emissions and adapt to climate change
  • Innovation can help reduce the cost of climate change mitigation and adaptation
  • Innovation can create new opportunities for economic growth and development
• Why is it important to consider the cost of regulations when implementing climate policies?

  Regulations can have unintended consequences and costs
• What is the potential consequence of intense global action to reduce climate change?

  It can cause more hunger and food insecurity than climate change itself
• What is the main problem with climate change according to the study material?

  Market failure
• Why is climate change considered a market failure?

  Because the cost of emissions is not reflected in the price of products
• What is the proposed solution to climate change through innovation?

  Focus on finding alternative energy sources
• What are some examples of innovation that have solved big problems in the past?

  • Replacement of whale oil with kerosene
  • Invention of the car to replace horse-drawn carriages
  • Invention of the catalytic converter to reduce air pollution from cars
• Why are solar and wind power not considered the answer to climate change?

  They are expensive and inefficient compared to fossil fuels
• What percentage of global energy needs are met by solar and wind power?

  1%
• What are some areas of research and development that could lead to innovation in energy production?

  • Green energy R&D
  • Energy storage
  • Nuclear energy (especially nuclear fusion)
  • Air capture
• What is the main advantage of nuclear energy?

  It does not emit carbon dioxide
• What is the problem with air capture as a solution to climate change?

  There is not enough land to capture all excess carbon dioxide
• What are some ways that people can adapt to a warmer planet?

  • Using air conditioners
  • Changing travel destinations
  • Investing in flood protection
  • Creating more parks and water features
• Why is it important to consider adaptation as a solution to climate change?

  Because many countries may not implement aggressive environmental policies
• What is the estimated cost of researching geoengineering technology?

  $9 billion
• Why is it important to consider costs and benefits of different policies to address climate change?

  To make rational decisions
• What is the role of innovation in solving big problems?

  To find new solutions
• What are the limitations of solar and wind power as alternative energy sources?

  They are expensive and inefficient
• What is the estimated cost of protecting at least 90% of the global coastal flood plain population from sea level rise?

  Economically advantageous
• What are some examples of geoengineering solutions to climate change?

  • Stratospheric aerosol injections
  • Marine cloud brightening
  • Deliberate modification of the climate to suit human needs
• What is the potential benefit of geoengineering as a solution to climate change?

  It could prevent all of the temperature increase projected in this century
• What is the potential of nuclear energy as a low-carbon energy source?

  It does not emit carbon dioxide
• Why is adaptation an important solution to climate change?

  Because many countries may not implement aggressive environmental policies