Question

Discuss the relevant economic theories and principles of the issue of global warming?

Answer 1

Economic theories are ideas that aim to describe how economics works. It provides an outlet of research in all areas of economics based on rigorous theoretical reasoning and topics in mathematics that are supported by the analysis of economic problems. Global warming is the long-term heating of the earth's climate system observed since the pre-industrial days due to human activities primarily fossil fuel burning which increases heat-trapping greenhouse gas levels in the earth's atmosphere.

In his book "Economic theory and Global warming", professor Uzawa shows the usefulness of sophisticated economic theory in the analysis of the very important and practical problem of global climate change, the theoretical premises of orthodox economic theory to those broad enough to be capable of analyzing the phenomena to environmental disequilibrium, particularly global warming. He constructs a theoretical framework in which three major problems facing global warming may effectively be addressed. The book perfectly shows the relation between global warming and ecomnc theories.