Explores the economics and public policy of global climate change and develops the economic theory including the concepts of externalities, stock pullutant models, the social discount rate, and complicating factors such as information, uncertainty, technological progress, and risk. Students use economic analysis to compare different policy instruments such as administrative regulation, marketable permits, tax incentives, and direct subsidies. Also covers the political economy of international environmental agreements, including an analysis of the Kyoto Protocol. Prereq: ECON 401, ECON 605. Writing intensive.