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William Nordhaus (2018 Nobel Prize in Economics) has described how the free-rider problem, a central concept in economics, applies to climate change. In a study published in 2015 in the American Economic Review, Nordhaus developed an economic model to determine how to create a strong incentive for countries to collectively address climate change. He called his theory a “climate club.” Today, many think our behaviours will evolve towards more sustainable production and consumption patterns “thanks to the COVID outbreak”.

Short report #2 instruction:

Read the different articles I have identified. You can of course complement your readings
Answer to these questions:
From Nordhaus and other authors, briefly describe how the concept of the tragedy of the commons is applied to climate change (expected length ~200 words)
What are the key principles of the Climate Club defined by Nobel Prize Nordhaus? (expected length ~400 words)
What the coronavirus pandemic can teach us about tackling climate change? What are the new opportunities? Get your inspiration from Summarise Chassagne (2020) and Meyer (2020). (expected length ~400 words)

Expected length of short report #1: around 1000 words in total
Deadline and submission process: Submit your short report on the dedicated Turnitin on Moodle by the 28th April

References:

· Nordhaus, 2015, Climate Clubs: Overcoming Free-riding in International Climate Policy, American Economic Review (ARTICLE LINK)

· Chassagne, 2020, Here’s what the coronavirus pandemic can teach us about tackling climate change, The Conversation (ARTICLE LINK)

· Meyer, 2020, Coronavirus could lead to a sustainable society better equipped to tackle future problems, EURONEWS (ARTICLE LINK)