oil pump Growth, Resources, and the Environment

Thursday 10:15 - 11:45 in OEC 0.169
Lecture number: 801281
Main text: Selected journal articles and selected chapters from Perman, R. et al., 2003, Natural Resource and Environmental Economics; David Weil, 2005, Economic Growth; Jones, C.I., 2002, Introduction to Economic Growth. Course material for participants is available at the course material webpage

1. Introduction: The Limits to Growth (Or Not?)

References: Nordhaus, W.D., 1992, Lethal model 2: The limits to growth revisited, Brookings Papers on Economic Activity 2, 1-43.
David Weil, 2005, Economic Growth, Chapter 16.1.-2.

2. A General Resource Constrained Model

References: Nordhaus, W.D., 1992, Lethal model 2: The limits to growth revisited, Brookings Papers on Economic Activity 2, 1-43.
Jones, C.I., 2013, Introduction to Economic Growth, Norton, Chapter 10.

3. A Theory of Resource Prices

References: Krautkraemer, J., 1998, Non-renewable resource scarcity, Journal of Economic Literature 36, 2065-2107.
Perman et al., Ch. 14-15.

4. Optimal Use of Non-renewable Resources and Sustainability

Reference: Perman et al., Ch. 14-15.

5. Growth and the Environment: The Green Solow Model

References: W.A. Brock and M.S. Taylor, 2005, Economic growth and the environment: A review of theory and empirics, Handbook of Economic Growth, Chapter 28.
David Weil, 2005, Economic Growth, Chapter 16.3.
Perman pp. 36-40

6. The Economics of Global Warming

References: Perman pp. 321-334.

7. Accounting for Climate Change: The Stern Report and the Dice Model

References: N. Stern, 2008, The economics of climate change, American Economic Review 98, 1-27.
W.D. Nordhaus, 2007, A review of the Stern review on the economics of climate change, Journal of Economic Literature 45, 686-702.
Perman pp. 538-553

8. (How) Shall We Discount the Future?

References: Dasgupta, P., 2008, Discounting Climate Change, Journal of Risk and Uncertainty 37, 141-169.
Weitzman, M.I., 2007, A review of the Stern Review, Journal of Economic Literature 45, 703-724

9. A Supply-Side Model of Global Warming and the Green Paradox

Reference: H.-W. Sinn, 2008, Public policies against global warming, International Tax and Public Finance 15, 360-394.

10. Depletion of Renewable Resources and the Tragedy of the Commons

References: Dockner et al, 2000, Differential Games in Economics, 331-333.
J.A. Brander and M.S. Taylor, 1998, The simple economics of Easter Island, American Economic Review 88, 119-138.

11. Resource Abundance and Growth at the Country Level

References: Sachs, J.D., and Warner, A.M. (2001). The curse of natural resources. European Economic Review, 45(4), 827-838.
Torvik, R. (2001). Learning by doing and the Dutch disease. European Economic Review, 45(2), 285-306.
Rodriguez, F., and Sachs, J.D. (1999). Why do resource-abundant economies grow more slowly?. Journal of Economic Growth, 4(3), 277-303.

12. Institution and the Resource Curse

References: Mehlum, H., K. Moene, and R. Torvik, 2006, Institutions and the Resource Curse, Economic Journal 116, 1-20.

13. Resources, Kleptocracy, and Divide-and-Rule

Reference: Acemoglu, D., Verdier, T., and Robinson, J., 2004, Kleptocracy and Divide-and-Rule: A Model of Personal Rule, Journal of the European Economic Association 2, 162-192.