The first part of the course reviews the scientific evidence on global climate change (IPCC studies). This is followed by an analysis of market failure in the production of greenhouse gas emissions, and consideration of carbon markets as a policy response. A cost-benefit study of the control of greenhouse gases (the Stern Report) is examined, and the concluding part of the course looks at a computer model of economic activity and the environment. Students will learn about the scientific evidence on global climate change, and the associated economic implications, market failures, and policy options to mitigate those market failures. Students will develop skills to assess policy options in this area, and they will become conversant with applied cost-benefit analysis and a computer model of economic activity and the environment.e on climate change; economic models of the environment and market failure; cost-benefit analysis of policy options; carbon market