An Economist's Guide to Climate Change
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Provided by: MIT Climate Portal|Published on: July 23, 2026
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Scientist Reviewed This resource has been reviewed by SubjectToClimate's climate scientists and verified for scientific accuracy and up-to-date information. Learn about our review process →
Synopsis
- In this 15-minute podcast episode, research scientist Dr. Jennifer Morris explains the social cost of carbon, how economic models attempt to translate the harms of climate change into dollars, and why estimates of that cost vary so widely.
- Students learn how uncertainty, hard-to-quantify impacts, and the risk of catastrophic tipping points shape the debate, and why economists argue that an uncertain cost is not a reason for inaction.
Subjects: Earth and Space Sciences, Economics
Authors: Ask MIT Climate Podcast
Region: Global
Languages: English
Teaching Materials
Classroom Implementation:
- This podcast episode includes a full transcript, so it works well as listening, reading, or a combination.
- Use this podcast in an environmental economics or policy unit to introduce ideas like the social cost of carbon, carbon taxes, and externalities.
Related Resources:
- Use this En-ROADS simulation lesson to discover the mitigating impacts of carbon prices and other policy approaches.
- Use this short video about Doughnut Economics to introduce alternative economic models that center environmental and social wellbeing.
Extensions:
- Have students weigh the arguments for setting a carbon price through a social cost of carbon estimate versus the European Union's cap-based approach, and discuss what each prioritizes.
- Ask students to explain, using the podcast's reasoning, why treating the cost of carbon as zero is a claim that evidence contradicts.
Scientist Notes
Teaching Tips
Standards
Resource Type and Format
Scientist Reviewed
This resource has been reviewed by SubjectToClimate's climate scientists and verified for scientific accuracy and up-to-date information. Our review process ensures that every resource in our library reflects the current state of climate science.
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