Summary: It is clear that free trade leads to economic growth, especially in developing economies like China. Economists have sought to explain why this is true. In this topic we will explore that relationship.
Inquiry Question: What is the relationship between trade and development?
You should have finished reading the article from last class.
TQE Discussion (formative): You will participate in a short small group discussion (TQE) related to the article you were assigned last class.
Lecture: I will lecture using this slide show.
Required: None
Optional:
Listen to this podcast. Focus on this question as you listen: How does economic growth affect the environment?
Bjorn Lomborg, President of the Copenhagen Consensus Center, talks about the costs and benefits of attacking climate change with EconTalk host Russ Roberts. Lomborg argues that we should always be aware of tradeoffs and effectiveness when assessing policies to reduce global warming. He advocates for realistic solutions that consider the potential to improve human life in other ways. He is skeptical of the potential to move away from fossil fuels and argues that geo-engineering and adaptation may be the most effective ways to cope with climate change.
And this one. Focus on the same question.
Is climate change the ultimate Black Swan? Martin Weitzman of Harvard University and co-author of Climate Shock talks with EconTalk host Russ Roberts about the risks of climate change. Weitzman argues that climate change is a fat-tailed phenomenon--there is a non-trivial risk of a catastrophe. Though Weitzman concedes that our knowledge of the climate is quite incomplete, he suggests that it is prudent to take serious measures, including possibly geo-engineering, to reduce the accumulation of carbon dioxide in the atmosphere.