Economics

What is it?

The social science of creating, distributing, and consuming goods and services. Economists study both individual decisions and larger systems to understand how societies are organized, with a focus on explaining patterns of wealth, efficiency, and fairness.

Median annual salary
$ 0
People employed U.S.
0
Job growth score (out of 100)
0

What would you do?

Collect and clean datasets on inflation, wages, etc.
Analyze consumer and business behavior
Compare cost strategies for companies
Forecast future trends, like the effect of climate change on the economy
Write reports for governments, think tanks, and international organizations

Relationship to climate change

Economics is key to incentivising sustainable decisions and creating sustainable societies
To fight climate change, economists…
Put a price on carbon
• Design optimal carbon taxes to reduce emissions
• Compare carbon pricing to other climate strategies
• Find the best amount to set emission limits to
Drive innovation
• Design tax credits and grants to encourage clean energy
• Show how solar and wind energy could lead to cheaper electricity
• Run models to see which technologies have the most economic and climate benefits
Shape climate agreements
• Model how global agreements affect trade, growth, and emissions
• Calculate future emission scenarios based on country income and historical emissions
• Design policy that has both economic and sustainability benefits
Make businesses sustainable
• Quantify emissions in companies to find ways to reduce emissions and save money
• Draft ways to make green initiatives financially valuable
• Help businesses anticipate effects of carbon pricing or emissions regulations
Use economics for these climate change solutions…
More solutions

Get Started

Economics is a great fit if you enjoy problem-solving, data and patterns, looking at pros and cons, and understanding how societies work. Explore classes and project ideas to get started:
Recommended classes
High school:
AP Microeconomics
AP Macroeconomics

AP Calculus
Statistics

Computer Science

English

AP Seminar (helpful)
AP Research (helpful)
Study how climate policies have affected local businesses
Survey community response to discounts, rewards, and other incentives
Calculate cost of switching your school or house to renewable energy
Create models for how solar panels or electric vehicles could save households money over time
Get involved with your city government on climate policy
Economists
Climate Change Could Become a Global Economic Disaster
How much will climate change drag down the economy?
An economic solution to climate change that could save trillions
How have economists thought about climate change?


Written by Aiden Miao
Palo Alto High School (2027)

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