Understanding the Social Cost of Carbon in Economic Planning

Every policy decision and urban development plan has an environmental price tag, but how do we calculate the true monetary damage of a single ton of carbon dioxide? Understanding the social cost of carbon (SCC) is essential for modern planning, policy-making, and environmental economics. This text-based course guides you through the foundational economic principles used to quantify climate damages, helping you understand how regulatory decisions, discount rates, and climate risk assessments shape our sustainable future. What you'll learn: - Learn the fundamental definitions and core concepts of environmental economics and social cost. - Understand how integrated assessment models (IAMs) simulate the interactions between the global economy and climate change. - Analyze the critical role of discount rates in valuing future climate impacts for long-term planning. - Evaluate how the social cost of carbon is applied in regulatory impact analyses and urban policy design. - Explore modern frameworks for climate risk assessment and corporate sustainability reporting. You will start with the basic economic theories of externalities and market failures before exploring quantitative modeling techniques and real-world policy applications. This course is designed for beginners in urban planning, public policy, economics, or environmental studies, with no prior advanced mathematics or economic background required. Start reading today to master the economic tools driving modern climate policy.