Economics Climate Change Economics Study Cards

Enhance Your Learning with Climate Change Economics Flash Cards for quick learning



Climate Change

Refers to long-term shifts in temperature and weather patterns caused by human activities, particularly the emission of greenhouse gases.

Mitigation

Actions taken to reduce or prevent the emission of greenhouse gases and limit the extent of climate change.

Adaptation

Strategies and measures implemented to adjust to the impacts of climate change and minimize vulnerability.

Carbon Pricing

A policy approach that puts a price on carbon emissions to incentivize the reduction of greenhouse gas emissions.

Renewable Energy

Energy derived from natural sources that are constantly replenished, such as sunlight, wind, and water.

Market Failures

Situations where the allocation of resources by the market is inefficient, leading to suboptimal outcomes in terms of economic efficiency and social welfare.

Externalities

Costs or benefits that are not reflected in the market price of a good or service, resulting in an inefficient allocation of resources.

Cost-Benefit Analysis

A method used to evaluate the economic feasibility of a project or policy by comparing the costs and benefits associated with it.

Intergovernmental Panel on Climate Change (IPCC)

An international body established to provide scientific assessments of climate change and its potential impacts.

Greenhouse Effect

The process by which certain gases in the Earth's atmosphere trap heat from the sun, leading to a warming effect.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Carbon Footprint

The total amount of greenhouse gases emitted directly or indirectly by an individual, organization, or product.

Climate Finance

Financial resources provided to support climate change mitigation and adaptation efforts in developing countries.

Cap and Trade

A market-based approach to controlling pollution by setting a limit on emissions and allowing companies to buy and sell permits to emit.

Environmental Economics

A branch of economics that studies the economic impact of environmental policies and the use of economic incentives to address environmental issues.

Economic Incentives

Financial or non-financial rewards or penalties designed to motivate individuals, businesses, or governments to take certain actions.

Climate Resilience

The ability of a system or community to withstand and recover from the impacts of climate change.

Fossil Fuels

Non-renewable energy sources formed from the remains of plants and animals that lived millions of years ago, such as coal, oil, and natural gas.

Renewable Portfolio Standards

Regulations that require utilities to obtain a certain percentage of their energy from renewable sources.

Green Jobs

Employment opportunities in sectors that contribute to environmental sustainability, such as renewable energy, energy efficiency, and waste management.

Carbon Leakage

The phenomenon where a reduction in emissions in one country leads to an increase in emissions in another country due to changes in production patterns.

Emissions Trading

A market-based approach to reducing greenhouse gas emissions by allowing companies to buy and sell emission allowances.

Discount Rate

The rate used to convert future costs and benefits into present value for the purpose of economic analysis.

Climate Justice

The concept that the burdens and benefits of climate change and its mitigation should be distributed fairly and equitably.

Renewable Energy Certificates

Tradable certificates that represent the environmental attributes of renewable energy generation and can be sold or traded separately from the physical electricity.

Greenhouse Gas Emissions

The release of gases, such as carbon dioxide and methane, into the atmosphere that contribute to the greenhouse effect and climate change.

Economic Growth

An increase in the production and consumption of goods and services in an economy over time, often measured by changes in GDP.

Renewable Energy Subsidies

Financial incentives provided by governments to promote the development and use of renewable energy sources.

Climate Change Vulnerability

The degree to which a system or community is susceptible to the adverse effects of climate change, including its exposure, sensitivity, and adaptive capacity.

Economic Efficiency

A state where resources are allocated in a way that maximizes the overall benefit to society, given the available resources.

Greenhouse Gas Intensity

The amount of greenhouse gas emissions produced per unit of economic output, often measured as emissions per unit of GDP.

Renewable Energy Investment

Financial resources directed towards the development, deployment, and operation of renewable energy projects.

Climate Change Adaptation

The process of adjusting to the current and future impacts of climate change, including the implementation of measures to reduce vulnerability and build resilience.

Economic Inequality

A measure of the disparity in income and wealth distribution within a society, often measured by indicators such as the Gini coefficient.

Clean Development Mechanism

A flexible mechanism under the Kyoto Protocol that allows developed countries to invest in emission reduction projects in developing countries as a way to meet their own emission reduction targets.

Sustainable Consumption

The use of goods and services that meet present needs without compromising the ability of future generations to meet their own needs.

Climate Change Mitigation

Actions taken to reduce the emission of greenhouse gases and limit the extent of climate change.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people, often measured by indicators such as GDP per capita.

Renewable Energy Technologies

Technologies that harness energy from renewable sources, such as solar panels, wind turbines, and hydroelectric power plants.

Climate Change Policy

Government actions and regulations aimed at addressing the causes and impacts of climate change, including mitigation and adaptation measures.

Economic Externalities

Costs or benefits that are not accounted for in the market price of a good or service, resulting in an inefficient allocation of resources.

Climate Change Denial

The rejection or skepticism of the scientific consensus on climate change and its human-caused origins.

Economic Incentives for Renewable Energy

Financial rewards or penalties designed to promote the development and use of renewable energy sources.

Climate Change Education

Efforts to increase public awareness and understanding of climate change and its impacts, often through formal and informal educational programs.

Economic Impact Assessment

An analysis of the economic consequences of a particular event, policy, or project, often conducted to inform decision-making.

Climate Change Communication

The process of conveying information about climate change to individuals, communities, and decision-makers in a clear and effective manner.

Economic Modeling

The construction and analysis of mathematical or computational models to simulate and predict economic behavior and outcomes.

Climate Change Skepticism

The questioning or doubt of the scientific consensus on climate change and its human-caused origins.

Economic Policy Instruments

Tools and measures used by governments to influence economic behavior and achieve specific policy objectives, such as carbon taxes and subsidies.

Climate Change Resilience

The ability of a system or community to withstand and recover from the impacts of climate change, including its adaptive capacity and flexibility.

Economic Recession

A period of temporary economic decline characterized by a decrease in GDP, income, employment, and trade.

Climate Change Science

The study of the Earth's climate system, including the causes and consequences of climate change, as well as the development of climate models and projections.

Economic Stimulus

Government policies and measures aimed at boosting economic activity and promoting economic growth during periods of recession or stagnation.

Climate Change Adaptation Planning

The process of developing strategies and actions to reduce vulnerability and build resilience to the impacts of climate change.

Economic Sustainability

The ability of an economy to support current and future generations by using resources efficiently, promoting social well-being, and protecting the environment.

Climate Change Policy Evaluation

The assessment of the effectiveness, efficiency, and equity of climate change policies and measures.

Economic Systems

The structure and organization of an economy, including the production, distribution, and consumption of goods and services.