'Economics of Climate Change' Presented at Department of Economics, Sarasvathy Narayanan College, Madurai

1. ECONOMICS OF CLIMATE CHANGE
CAUTIONS AND CONCERNS
Dr.C.Muthuraja, M.A, M.Phil, PhD
Head, Post Graduate and Research Department of Economics
The American College, Madurai - 625 002, TAMIL NADU
(cmuthuraja@gmail.com) - (M-09486373765)
(Presented at Department of Economics, Saraswathy Narayanan College, Madurai, TAMIL
NADU on 29.03.2019)SINCE 1881

2. CONTENTS
♦ INTRODUCTION
♦ CLIMATE CHANGE
♦ ECONOMICS OF CLIMATE CHANGE
♦ IMPACT ON :
 AGRICULTURE
 INDUSTRY
 ENVIRONMENT
 PEOPLE
♦ MITIGATION
♦ ROLE :GOVERNMENT-PRIVATE-NGO’S-INDIVIDUAL
♦ SUMMARY + APPEAL
SINCE 1881

3. CLIMATE CHANGE
♦ Climate change occurs when changes in Earth's
climate system result in new weather patterns that
last for at least a few decades, and maybe for
millions of years
♦ The climate system is comprised of five
interacting parts, the atmosphere, hydrosphere,
cryosphere, biosphere, and lithosphere
♦ Small changes in average temperature of Earth
lead to large and potentially dangerous shifts in
climate and weather
♦ Rising global temperatures, Changes in weather
and climate, floods, droughts, intense rain,
frequent and severe heat wavesSINCE 1881

4. ECONOMICS OF CLIMATE CHANGE
• The uncertainty inherent in economic analyses of
environmental regulations is magnified by the long-term
and global scale of the problem
• There are uncertainties regarding the pace and form of
future technological innovation, economic growth, and
thresholds for climate impacts
• Discusses the effect of global warming on the world
economy
• The Stern Review on the Economics of Climate
Change for the Government of the United
Kingdom (2006 by economist Nicholas Stern, Chair of
the Grantham Research Institute on Climate Change and
the Environment at the London School of
Economics (LSE) and also chair of the Centre for
Climate Change Economics and Policy (CCCEP) at
Leeds University and LSESINCE 1881

5. The Economics Perspective
 “… it will do us little good to solve our common
global economic problems if we do not do
something about the most pressing common
environmental problem: global warming.”
Joseph E. Stiglitz, 2001 Nobel Memorial Prize in
Economics
 “we are much better off to act to reduce CO2
emissions substantially than to suffer and risk
the consequences of failing to meet this
challenge.”
Kenneth J. Arrow, 1972 Nobel Memorial Prize in
Economics
SINCE 1881

6. Benefits and Costs
• Climate change could cost India 2.8 per cent of GDP, and
depress living standards of nearly half of its population by
2050, as average annual temperatures are expected to rise
by 1-2 per cent over three decades
• If no measures are taken, average temperatures in India
are predicted to increase by 1.5-3 degrees- 'South Asia's
Hotspots: The Impact of Temperature and Precipitation
Changes on Living Standards‘
• Even if preventive measures are taken along the lines of
those recommended by the Paris climate change
agreement of 2015, India's average annual temperatures
are expected to rise by 1-2 degrees celsius by 2050
• About 600 million people in India today live in locations
that could either become moderate or severe hotspots of
climate change by 2050 under a business-as-usual
scenario
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11. ENVIRONMENT AND CLIMATE CHANGE
SINCE 1881

12. GENDER AND CLIMATE CHANGE
SINCE 1881

13. POVERTY AND CLIMATE CHANGE
SINCE 1881

14. CHILDREN AND CLIMATE CHANGE
SINCE 1881

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19. AGENDA
SINCE 1881

20. STUDENTS AND CLIMATE CHANGE
SINCE 1881

21. TOWARDS GREEN ECONOMICS/WORLD
SINCE 1881
ROLE OF
♦ INTERNATIONAL INSTITUTIONS
♦ GOVENMENTS
♦ PRIVATE CORPORATES
♦ NON GOVERNMENT ORGANISATIONS
♦ PUBLIC
♦ INDIVIDUAL
♦MASS/SOCIAL MEDIA FAMILY

22. INDIVIDUAL EFFORTS
FAMILY PARTICIPATION
PUBLIC PARTICIPATION
SOCIAL/CIVIC RESPONSIBILITIES
LEARN TO SHARE
LEARN TO UNLEARN +++
SINCE 1881

23. SINCE 1881

24. APPEAL
SINCE 1881
CLIMATE CHANGE EDUCATION
PLEASE
EACH ONE TEACH ONE
IF NOT
EACH ONE CATCH ONE AND TEACH ONE

25. QUESTIONS
SINCE 1881