A Simple Climate-Solow Model for Introducing the Economics of Climate Change to Undergraduate Students

In this paper the simplest integrated assessment model is developed in order to illustrate to undergraduate students the economic issues associated with climate change. The growth model developed in this paper is an extension of the basic Solow model and includes a simple climate model. Even though the model is very simple it is very powerful in its predictions. Students use the model to explore various scenarios illustrating how economic...