This course studies the long-term consequences of economic growth and climate change through the lens of welfare economics. Equipped with insights from the major models of economic growth (Solow, Ramsey, Romer) and empirical literature, we discuss whether, in a world of climate change, sustained economic growth is feasible – and desirable.
It is difficult to imagine a social phenomenon that matters more for the lives of humans than long-term economic growth. For millennia, nearly all people throughout the world lived at subsistence levels. Within a few centuries, per capita income in some regions of the world increased 100-fold, while in others no sustained economic growth occurred. Some countries then quite suddenly caught up within a few decades. Describing and explaining these patterns lies in the scope of theories of economic growth and development.
This course is for 1st year MIA and MPP students only.
Instructor
- Lion Hirth , Professor of Energy Policy
