Effects of climate change on human healthThe effects of climate change on human health are increasingly well studied and quantified. They can be grouped into direct effects (for example due to heat waves, extreme weather events) or indirect effects. The latter take place through changes in the biosphere for example due to changes in water and air quality, food security and displacement. Social dynamics such as age, gender or socioeconomic status influence to what extent these effects become wide-spread risks to human health.
Cost-effectiveness analysisCost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis, which assigns a monetary value to the measure of effect. Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect.
Effects of climate change on agricultureThe effects of climate change on agriculture can result in lower crop yields and nutritional quality due to drought, heat waves and flooding as well as increases in pests and plant diseases. Climate change impacts are making it harder for agricultural activities to meet human needs. The effects are unevenly distributed across the world and are caused by changes in temperature, precipitation and atmospheric carbon dioxide levels due to global climate change. In 2019, millions were already suffering from food insecurity due to climate change.
Transaction costIn economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931, and Oliver E. Williamson's Transaction Cost Economics article, published in 2008, popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs.
Marginal costIn economics, the marginal cost is the change in the total cost that arises when the quantity produced is incremented, the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output.
Effects of climate change on the water cycleThe effects of climate change on the water cycle are profound and have been described as an intensification or a strengthening of the water cycle (also called hydrologic cycle). This effect has been observed since at least 1980. One example is the intensification of heavy precipitation events. This has important negative effects on the availability of freshwater resources, as well as other water reservoirs such as oceans, ice sheets, atmosphere and land surface.
Climate migrantClimate migration is a subset of climate-related mobility that refers to primarily voluntary movement driven by the impact of sudden or gradual climate-exacerbated disasters, such as "abnormally heavy rainfalls, prolonged droughts, desertification, environmental degradation, or sea-level rise and cyclones". The majority of climate migrants move internally within their own countries, though a smaller number of climate-displaced people also move across national borders. Climate change gives rise to migration on a large, global scale.
Subarctic climateThe subarctic climate (also called subpolar climate, or boreal climate) is a continental climate with long, cold (often very cold) winters, and short, warm to cool summers. It is found on large landmasses, often away from the moderating effects of an ocean, generally at latitudes from 50°N to 70°N, poleward of the humid continental climates. Subarctic or boreal climates are the source regions for the cold air that affects temperate latitudes to the south in winter.
Fundamental theorems of welfare economicsThere are two fundamental theorems of welfare economics. The first states that in economic equilibrium, a set of complete markets, with complete information, and in perfect competition, will be Pareto optimal (in the sense that no further exchange would make one person better off without making another worse off). The requirements for perfect competition are these: There are no externalities and each actor has perfect information. Firms and consumers take prices as given (no economic actor or group of actors has market power).
Edgeworth boxIn economics, an Edgeworth box, sometimes referred to as an Edgeworth-Bowley box, is a graphical representation of a market with just two commodities, X and Y, and two consumers. The dimensions of the box are the total quantities Ωx and Ωy of the two goods. Let the consumers be Octavio and Abby. The top right-hand corner of the box represents the allocation in which Octavio holds all the goods, while the bottom left corresponds to complete ownership by Abby. Points within the box represent ways of allocating the goods between the two consumers.
