HONR 229L: Climate Change: Science, Economics, and Governance The Economics of Climate Change, Part II Your name here 1 November 2018

a) what is the difference between mitigation and adaptation measures Can breeze through this one … kind of an “ice breaker”, should you do desie The policy response to climate change section begins by noting 3 mitigation measures and 3 adaptation measures. Might want to ask the class: a) what is the difference between mitigation and adaptation measures b) what are the these 3 mitigation measures? c) what are the three 3 adaptation measures? I’ve advised discussion leads to prepare slides asking the class to provide their answers, to facilitate some conversation, then prepare a slide with your answers. Proceed as you see fit  Also, can find figures and tables from the reading at: http://www.ase.tufts.edu/gdae/education_materials/modules/The_Economics_of_Global_Climate_Change_Figures.ppt but I’ve placed many in this PPT, in an easy to re-size format.

In case you want to show Table 3, here it is in an easy to re-size format

I think Table 4 is worthy of an in depth discussion; hopefully students will understand the numbers in these tables but likely some will, some won’t, and it would be great to discuss, in terms of the numerics of a carbon tax. Alas, some of the numbers in the tables dated. Below, I give the version of the table as published, as well as an update based on latest pricing info: Source: http://www.ase.tufts.edu/gdae/education_materials/modules/The_Economics_of_Global_Climate_Change.pdf Our update, 2018 (nearly no change) Please email me and Laura if you need any help understanding these tables.

I think Table 4 is worthy of an in depth discussion; hopefully students will understand the numbers in these tables but likely some will, some won’t, and it would be great to discuss, in terms of the numerics of a carbon tax. Alas, some of the numbers in the tables dated. Below, I give the version of the table as published, as well as an update based on latest pricing info: Source: http://www.ase.tufts.edu/gdae/education_materials/modules/The_Economics_of_Global_Climate_Change.pdf Our update, 2018 (large change; we don’t understand the origin of the price of natural gas used by Tufts) FYI, our estimate for the price of natural gas is from https://www.eia.gov/dnav/ng/ng_pri_sum_dcu_nus_a.htm We used the entry for Electric Power Price in this table.

I think Table 4 is worthy of an in depth discussion; hopefully students will understand the numbers in these tables but likely some will, some won’t, and it would be great to discuss, in terms of the numerics of a carbon tax. Alas, some of the numbers in the tables dated. Below, I give the version of the table as published, as well as an update based on latest pricing info: Source: http://www.ase.tufts.edu/gdae/education_materials/modules/The_Economics_of_Global_Climate_Change.pdf Our update, 2018 (modest change; due to rise in the price of gasoline) FYI, our estimate for the price of gasoline is from https://www.eia.gov/dnav/pet/pet_pri_gnd_a_epmr_pte_dpgal_w.htm We use the entry for “All Grades” in this table.

Fig 16 & Fig 17, in case you’d like to use

Would be most excellent if you can spend some time soliciting feedback from the students, as to how they answered the first AT question Figure 18 compares the price per gallon of gasoline (all prices normalized to US dollars) versus per-capita consumption of gasoline in various countries. a) What is the per-capita consumption of gasoline in the US? b) Conduct a quick estimate of the per-capita consumption of gasoline of all members of your family who drive. You can base this estimate on a rough guess of how many miles each car is driven, per year, then looking up the fuel efficiency of the year/model of each car. I am seeking a single number for the “gallons per person" of gasoline consumed by your family. Of course, feel free to ask family members to estimate their annual mileage. c) If the price of gasoline in the US were to rise to the mean value that exists in Europe shown in Figure 18, i.e., $7.50 cents per gallon, estimate (roughly) how much your family’s consumption of gasoline would decline. .

Fig 18, which you could use, or fine to use any other type of comparable figure you can find on the web.

For the discussion of Figure 18, can perhaps also use something like this subset of questions Why is gasoline so much more expensive in Europe than in the US? What would happen in the US, if the price of gasoline was as expensive as in Europe?

Much of the reading focuses on a description of Carbon Tax and Cap & Trade. Q2 of the AT reads: Write a short essay comparing and contrasting Carbon Taxation and Cap & Trade of carbon emissions, and conclude by noting which policy option you think should be pursued to transition society away from fossil fuels. If you conclude that neither option should be pursued, then please select some Other Policy Tool (pg 42-43) and state why you would prefer to see this other option considered. You certainly could lead an extended discussion of: What is a carbon tax? What is Cap & Trade? Strengths / weaknesses of each approach (material on page 41-42 will be especially helpful) what are other policy options (e.g., page 42-43) e) perhaps have an extended discussion, perhaps even a debate, on what policy option should be pursued

Fig 19 & 20 in easy to resize format, in case you’d like to use

OK, not too creative here, but could spend some time on the last AT question as well as Fig 21 Figure 21 provides pictorial representation of various CO2 emission abatement options, tied to both costs and emission reduction for year 2030. a) state something either surprising or something new you learned from this figure. b) if you were granted the authority to implement these abatement options, explain which would you first implement as well as the reason for this choice. Of course, fine to discuss other aspects of this figure and also, might want to explain relation of the euro to the dollar

Here is a web source with useful info, should you want to use: https://www.mckinsey.com/business-functions/sustainability-and-resource-productivity/our-insights/the-carbon-productivity-challenge

As I write to all of the students: your call on how to use the ~45 mins I like using some AT questions, to facilitate discussion, but some students think this has been over done  Bringing in material outside of the reading, related to the topic, has gone over very well so far this semester. To the extent you can bring in outside material, while staying true to the reading, the more students will appreciate the discussion. Feel free use extra material and steer in whatever direction you’d like. Great if you can have a draft ready for us to discuss on Tuesday! Good luck!