Economics and Climate Change

Aberystwyth University

Our Planet is facing a ‘Climate Emergency’. Climate Change is the greatest contemporary environmental challenge with man-made carbon emissions proven to have resulted in unprecedented rises in global temperatures with significant impacts on human, social, political, economic and natural systems. The relationship between climate change and society is highly complex but we have the knowledge and the technology available to reduce the impact on climate, and thus ease the pressures on the world's most vulnerable places, people and wildlife. We just need people like you to help make it happen.

Economics can play a key role in tackling climate change by providing an understanding of the incentive structures of consumers and firms that help explain why and how governments might intervene in economic markets to deliver climate friendly policies and institutions. Through the study of economics, students will gain an understanding of the failures of ‘conventional’ markets to effectively tackle climate change. Drawing on sub-disciplines of environmental and ecological economics, students will develop an appreciation of how local, national and international policies can be developed to provide incentives such as carbon trading schemes and taxes aimed at reducing emissions. Economics can also help us understand the role of institutions, such as the Intergovernmental Panel on Climate Change (IPCC) helping set international targets for carbon emissions. A knowledge of economics also provides insights into mechanisms for transformative societal change such as moves to a carbon neutral economy, transitions to green GDP, and an understanding of the impact of climate change on equity issues between developed and developing countries. A combination of economic and climate change modules will allow students to develop the interdisciplinary skills needed to understand and create solutions to the climate crisis.

The degree in ‘Economics and Climate Change’ will prepare students to become future leaders in the fight against climate change. In this degree, you will combine a knowledge of the science underpining climate change with a wide range of economic tools that allow you to understand and develop policies and incentives supporting the transition to a carbon neutral economy. The degree explores creative ways in which policies can be developed to respond to the challenge and opportunities of the current climate crisis. It will also equip you with relevant subject specific knowledge alongside the inter-disciplinary, interpersonal skills and attributes needed to create a more just and sustainable world. Economics and Climate change will set you on the rewarding journey of having a positive impact on your world.

Students studying Economics and Climate Change at Aberystwyth will:
• Develop an inter-disciplinary approach to addressing the climate crisis
• Analyse the causes and consequence of climate change and environmental degradation from an economics perspective
• Develop an understanding of the application of economics across a range of problems and contexts, and in the area of climate change in particular
• Develop the analytical skills and ability to develop simplifying frameworks for studying the real world, including the impact of climate change
• Develop the relevant skills for the constructive use of economic knowledge to tackle problems of economic policy, including policies that tackle climate change
• Develop economic graduates with an appreciation of social responsibilities, including in the area of climate change.

Aberystwyth Business School