Eco314
LECTURE 1: BACKGROUND AND INTRODUCTION
Adonis Yatchew yatchew@chass.utoronto.ca www.economics.utoronto.ca/yatchew 150 St. George Street, Room 278
© A. Yatchew
2
Energy and Environment are Fundamentally Interdisciplinary
The study of energy is intrinsically interdisciplinary in
nature – many disciplines inform our understanding of energy.
The theoretical and applied sciences underpin the fundamental
potentialities of energy and their impacts, both beneficial and detrimental.
Humanities document and elaborate the human consequences of
its use.
The social sciences analyse societal aspects.
© A. Yatchew
3
Energy and Environment are Fundamentally Interdisciplinary
Sciences: the science of energy production and its environmental
impacts, most importantly climate change; the vast potential for noncarbon energy sources; the need for breakthrough technologies.
Humanities: the historical evolution of energy use, and how it has
affected technological, institutional and civilizational change; the role that energy and the related technologies have played in a succession of human epochs.
Social Sciences: the economics and politics of energy, our current
dependence on hydrocarbons (which provide over 80% of the energy we use) and the role that economic principles can play in resolving the often conflicting objectives of economic growth and environmental protection; the interplay of economics, politics and energy security.
© A. Yatchew
4
Course Objectives
1.
Broad overview of major areas of energy economics and related environmental issues. Understanding of important economic tools used to analyse energy markets. Develop capacity to understand public discourse and critically assess energy and environmental debates, (e.g., decarbonization, fracking, renewable energy, markets v. regulation …). Facility with vast data resources on energy and related environmental issues.
2.
3.
4.
© A. Yatchew
5
Adonis Yatchew yatchew@chass.utoronto.ca www.economics.utoronto.ca/yatchew 150 St. George Street, Room 278
© A. Yatchew
2
Energy and Environment are Fundamentally Interdisciplinary
The study of energy is intrinsically interdisciplinary in
nature – many disciplines inform our understanding of energy.
The theoretical and applied sciences underpin the fundamental
potentialities of energy and their impacts, both beneficial and detrimental.
Humanities document and elaborate the human consequences of
its use.
The social sciences analyse societal aspects.
© A. Yatchew
3
Energy and Environment are Fundamentally Interdisciplinary
Sciences: the science of energy production and its environmental
impacts, most importantly climate change; the vast potential for noncarbon energy sources; the need for breakthrough technologies.
Humanities: the historical evolution of energy use, and how it has
affected technological, institutional and civilizational change; the role that energy and the related technologies have played in a succession of human epochs.
Social Sciences: the economics and politics of energy, our current
dependence on hydrocarbons (which provide over 80% of the energy we use) and the role that economic principles can play in resolving the often conflicting objectives of economic growth and environmental protection; the interplay of economics, politics and energy security.
© A. Yatchew
4
Course Objectives
1.
Broad overview of major areas of energy economics and related environmental issues. Understanding of important economic tools used to analyse energy markets. Develop capacity to understand public discourse and critically assess energy and environmental debates, (e.g., decarbonization, fracking, renewable energy, markets v. regulation …). Facility with vast data resources on energy and related environmental issues.
2.
3.
4.
© A. Yatchew
5