An interdisciplinary research paper allows students to analyze issues from multiple perspectives and think more broadly than a traditional research paper. An interdisciplinary approach can yield novel insights and solutions. This sample paper explores the topic of climate change and its economic impacts through both environmental science and economics lenses.
Climate change poses serious risks to both the environment and the global economy. As the planet continues to warm due to rising greenhouse gas emissions, changes in weather patterns are occurring more frequently and intensely. Some of the climatic changes already taking place include rising sea levels, stronger storms, more severe and frequent heat waves, extended droughts, and heavier rainfall (IPCC, 2018). These physical impacts of climate change have substantial economic consequences. Agriculture, coastal communities, infrastructure, and public health are all vulnerable to climate change damages. While transitioning to a low-carbon economy comes with short-term costs, failing to mitigate climate change risks far greater economic losses.
From an environmental science perspective, the scientific evidence that human greenhouse gas emissions are the dominant cause of global warming is unequivocal. The burning of fossil fuels like coal, oil and gas emits carbon dioxide and other heat-trapping gases into the atmosphere. Concentrations of atmospheric carbon dioxide, methane and nitrous oxide have increased to levels unprecedented in at least the last 800,000 years from their pre-industrial levels (IPCC, 2018). Carbon dioxide levels are now over 45% higher than pre-industrial levels of 280 ppm, reaching concentrations of over 400 ppm. The scientific consensus is that limiting global warming to well below 2°C requires global greenhouse gas emissions to reach net zero by 2050.
Climate change impacts are also assessed with high confidence to be worsening over this century according to the intergovernmental Panel on Climate Change (IPCC). As temperatures rise, extreme heat waves are projected to be more intense and frequent in most land regions. Increasing temperatures are also leading to rising sea levels, amplifying coastal impacts from storm surges and high tides. As temperatures increase, the chance of heavy rainfall events intensify along with droughts in some regions. Additional warming will magnify these climate disruptions, making them more severe. Coral reefs are projected to decline dramatically with 1.5°C of global warming and be nearly all lost at 2°C according to recent studies.
From an economic perspective, the costs of climate change are already substantial and growing. Insured losses from climate-related disasters climbed sharply over the past two decades, with 2017 being the costliest year on record according to Munich Re, a reinsurance company. The U.S. experienced 16 weather and climate disaster events in 2017 with losses exceeding $1 billion each across a wide swath of the nation. Most disastrous fires and hurricanes are estimated to become more frequent and destructive as temperatures rise further according to a large body of peer-reviewed research.
Some sectors of the economy will face especially large costs from unmitigated climate change impacts. Agriculture and food security are highly vulnerable as warming poses new risks for crops and livestock. Rising temperatures, changing precipitation patterns, and more frequent extreme weather can reduce crop yields and livestock productivity in many regions. These effects combined with water scarcity risks pose a threat to global food supplies. An estimated additional 100 million people could face chronic hunger by 2050 due to climate change according to the IPCC. Fisheries and ocean ecosystems also face severe threats as the oceans warm and become more acidic. Coral reefs, a vital resource for fishing and tourism, are severely threatened by continued climate change.
Coastal communities and infrastructure face growing climate risks as well. Sea level rise projections have been updated upward in recent scientific assessments. A rise of 1 to 4 feet by 2100 is now considered likely under scenarios of high emissions. Hundreds of coastal cities and towns worldwide are at risk of inundation and surge flooding. Coastal property is also increasingly at risk from stronger storms and hurricanes as the atmosphere and oceans continue warming. An estimated $1 trillion in existing coastal property values in the U.S. alone could be lost by 2100 under a high sea level rise scenario according to one study. Critical infrastructure such as roads, bridges, airports, seaports and power plants located near coasts are vulnerable as well. Protecting at-risk communities and properties from rising seas will require massive investments in adaptation and resilience measures.
Public health is another area that faces substantial health and economic consequences from climate change impacts. Climate influences the spread of diseases and triggers events such as heat waves that threaten lives. Vector-borne diseases transmitted by mosquitoes and ticks such as Lyme disease, West Nile virus and Zika virus have expanded their ranges northward. Harmful algal blooms associated with warming oceans produce toxins that can sicken and even kill people and animals. More frequent and intense heat waves claimed over 100,000 lives in Europe in 2003 alone according to some studies. Wildfires which have intensified due to warming and drying also threaten many communities with smoke and other health hazards. The economic costs of climate-related illnesses and lost lives each year amount to billions globally today and are projected to grow dramatically without mitigation efforts.
Meanwhile, transitioning to a low-emission economy poses front-loaded short-term macroeconomic costs but provides substantial long-term economic benefits. Some argue that ambitious emissions reductions could harm economic growth in the short-run by raising energy prices. Renewable energy sources like wind and solar have become cheaper than fossil fuels on an unsubsidized basis in many markets today. Costs continue falling rapidly with increased production. Energy efficiency strategies and technologies also deliver net economic savings over time.
Investments in expanding renewable energy, upgrading the power grid, modernizing transportation systems, improving building efficiencies and research offer significant opportunities for economic growth, jobs and new industries according to modeling by groups like the International Renewable Energy Agency. The clean energy sector employed over 10 million people globally in 2015 and this sector is growing rapidly according to IRENA. Overall, inaction on climate change is projected to cost the global economy far more than proactive efforts to transition according to integrated assessment models. Major businesses worldwide also now recognize climate risks and support climate policy that facilitates an orderly transition to a low carbon economy.
An interdisciplinary examination of climate change highlights the immense environmental and economic threats posed by this urgent issue. From the perspectives of both climate science and economics, the costs of inaction clearly far outweigh the costs of proactive mitigation and adaptation efforts according to current research. While the transitions required have short-term macroeconomic adjustments, a sustainable, prosperous economy for the 21st century depends on an urgent and coordinated global response to climate change. Both interdisciplinary analysis and international cooperation will remain vital to successfully addressing this global challenge.
Andrew Stroud