ABSTRACT
Climate change economics has produced new methods for evaluating environmental benefits, for determining costs in the presence of various market distortions or imperfections, for making policy choices under uncertainty, and for allowing flexibility in policy responses. The economics of global warming refers to the projected size and distribution of the economic costs and benefits of global warming and to the economic impacts of actions aimed at the mitigation of global warming. Global warming has become one of the most pressing issues of modern society. The global warming problem was one of the sustainability science subjects along with the North South Poles and poverty issues. Global warming will cause migration from some countries to others. Those that suffer the most from global warming will see depopulation. The challenge of coping with global warming is particularly difficult because it spans many disciplines and parts of society. The greenhouse gases which create this problem are long lived, so action is urgently needed.
