ECON320 SUNY Canton Ecological Macroeconomics: Consumption Investment and Climate Change by Jonathan M. Harris

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Evprsna

Economics

ECON320

SUNY CANTON

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Instructions:

1. Read “Ecological Macroeconomics: Consumption, Investment, and Climate Change” by Jonathan M. Harris from

http://www.ase.tufts.edu/gdae/Pubs/wp/08-02EcologMacroEconJuly08.pdf.

2. Write double-spaced summary/comments (five pages).

3. Use Times New Roman, one inch margins, and 12 point font.

4. Include in your summary the following sections:

* Introduction (1 page: 10 points)

* Literature Review (1 page: 10 points)

* Data and Model Specification (1 page: 10 points)

* Results Analysis (1 page: 10 points)

* Conclusion/Comments (1 page: 10 points)

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Explanation & Answer

Attached.

Running head: RESEARCH PAPER ANALYSIS

Research Paper Analysis
Student’s Name
Institutional Affiliation

1

RESEARCH PAPER ANALYSIS

2

Ecological Macroeconomics: Consumption, Investment, and Climate Change
Introduction
By the year 2050, the challenge of global carbon emissions reduction by 50-85% is
conflicting with the available economic growth patterns that depend heavily on high usage of
fossil fuel energy. The Intergovernmental Panel on Climate Change suggests this change as a
target that aligns with risk limitation of more than 2ºC temperature rise. Theoretically, it is
possible conceiving the development of the economy as “delinked” from fossil fuel
consumption. This way, any delinking would indicate a significant change from the patterns of
the economy of the last 150 years. The recent macroeconomic theory is mainly pointed towards
continuous exponential development in the gross domestic product as an assumption. The
historical accounts indicate that there is a correlation of GDP growth with a parallel account of
high levels of fossil energy usage and emissions of CO2. To reduce the emissions of carbon, it is
essential to have key modifications in the patterns of economic growth.
Climate change is part of the interconnected category of environmental problems linked
to growth limits. It involves agricultural production, population growth, species loss, and water
supplies. To attain a low carbon path, it is essential to have limited consumption, stabilization of
populations, and the most significant investments in environmental protection and social
priorities like nutrition, public health, and education. The new realities require reflection from
the macroeconomic theory. Macroeconomic reclassification totals are suggested to differentiate
between the groups of services and goods, which can expand with time, and those, which
requires limitations to decrease emissions of carbon. From this reformulation, it is an indication
that there are various likelihoods for economic expans...


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