Course Overview

This program equips policymakers, economists, planners, and development practitioners with the tools to analyze the economic impacts of climate change, evaluate climate‑related risks, and design policies that support climate‑resilient and low‑carbon development.

The course aligns with the World Bank Climate Change Action Plan, IMF Climate Macroeconomic Assessment Program (CMAP), and global frameworks for climate finance, carbon pricing, and adaptation economics.

Participants learn how climate change affects growth, fiscal policy, public investment, poverty, and macro‑financial stability—and how to design economic policies that promote resilience and sustainability.

2. Learning Objectives

Participants will be able to:

• Understand the economic drivers and consequences of climate change.

• Analyze climate risks and their macroeconomic transmission channels.

• Evaluate mitigation and adaptation policies using economic tools.

• Integrate climate risks into fiscal, monetary, and development planning.

• Assess climate‑related public investment and cost‑benefit analysis.

• Understand climate finance instruments and access mechanisms.

• Apply carbon pricing and market‑based climate policy tools.

• Produce climate‑economic policy briefs aligned with World Bank standards.

3. Target Audience

• Ministries of Finance, Planning, Environment, and Energy

• Central bank macro‑financial and research departments

• Climate change units and national adaptation teams

• World Bank–funded project teams

• Economists, researchers, and policy analysts

• Private‑sector development and sustainability specialists

• NGOs and civil society organizations working on climate policy

4. Detailed Course Outline

Module 1: Introduction to Climate Change Economics

• Climate science fundamentals for economists

• Economic rationale for climate action

• Global climate governance (UNFCCC, Paris Agreement)

• World Bank and IMF climate‑economic frameworks

• Case studies of climate‑driven economic shocks

Module 2: Economic Impacts of Climate Change

• Impacts on growth, productivity, and labor markets

• Sectoral impacts: agriculture, energy, water, infrastructure

• Poverty, inequality, and vulnerability

• Climate‑induced migration and displacement

• Long‑term macroeconomic projections under climate scenarios

Module 3: Climate Risk Assessment & Macroeconomic Transmission Channels

• Physical risks: extreme weather, slow‑onset events

• Transition risks: carbon pricing, stranded assets, regulatory shifts

• Macro‑financial risks and financial stability implications

• Tools for climate risk diagnostics

• Integrating climate risks into macroeconomic models

Module 4: Economics of Climate Mitigation

• Mitigation pathways and decarbonization strategies

• Carbon pricing: carbon taxes, emissions trading systems (ETS)

• Energy transition economics

• Cost‑benefit and marginal abatement cost curves

• Role of technology and innovation

Module 5: Economics of Climate Adaptation

• Adaptation planning and resilience building

• Cost‑benefit analysis of adaptation investments

• Climate‑resilient infrastructure and agriculture

• Social protection and climate resilience

• National Adaptation Plans (NAPs) and economic prioritization

Module 6: Climate Finance & Investment Mobilization

• Global climate finance architecture (GCF, CIF, GEF, IDA)

• Public vs. private climate finance

• Green bonds, sustainability‑linked loans, blended finance

• Accessing climate finance for national projects

• Designing bankable climate‑investment proposals

Module 7: Fiscal Policy, Public Investment & Climate Change

• Climate‑responsive budgeting

• Fiscal risks from climate change

• Green public financial management (Green PFM)

• Public investment management for climate resilience

• Integrating climate into Medium‑Term Expenditure Frameworks (MTEFs)

Module 8: Climate‑Smart Development & Just Transition

• Low‑carbon growth strategies

• Economic diversification for fossil‑fuel‑dependent economies

• Social and labor‑market impacts of the energy transition

• Policies for a just and inclusive transition

• Case studies from developing countries

Module 9: Climate Change in World Bank & IMF Programs

• Climate diagnostics in Systematic Country Diagnostics (SCDs)

• Climate‑related Development Policy Operations (DPOs)

• IMF Climate Macroeconomic Assessment Program (CMAP)

• Climate‑informed Country Climate and Development Reports (CCDRs)

• Lessons from global climate‑economic reforms

Module 10: Practical Exercises & Capstone Project

• Conducting a climate‑economic impact assessment

• Designing a carbon pricing policy for a simulated country

• Preparing a climate‑resilient public investment plan

• Developing a climate finance proposal

• Capstone: Draft a Climate‑Economic Policy Strategy for a simulated economy

5. Training Methodology

• Expert‑led lectures and guided discussions

• Hands‑on climate‑economic modelling and scenario analysis

• Case studies from World Bank and IMF climate programs

• Group work and policy simulations

• Practical sessions on climate finance, carbon pricing, and adaptation economics

• Capstone project with peer and instructor feedback

6. Deliverables & Outputs

Participants will receive:

• A Climate Economics Toolkit (frameworks, templates, datasets)

• Climate risk assessment and modelling tools

• Carbon pricing and adaptation analysis templates

• Capstone project report and presentation

• Certificate of Completion from Regewall Training Institute