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Table of Contents

  1. Topic pack - Microeconomics - introduction
  2. 1.1 Competitive Markets: Demand and Supply
  3. 1.1 Competitive Markets: Demand and Supply - notes
  4. 1.1 Competitive markets - questions
  5. 1.1 Competitive markets - simulations and activities
  6. 1.2 Elasticities
  7. 1.2 Elasticities - notes
  8. Section 1.2 Elasticities - questions
  9. Section 1.2 Elasticities - simulations and activities
  10. 1.3 Government intervention
  11. 1.3 Government Intervention - notes
  12. 1.3 Government intervention - questions
  13. 1.3 Government intervention - simulations and activities
  14. 1.4 Market failure
  15. 1.4 Market failure - notes
  16. Section 1.4 Market failure - questions
    1. Market failure - short answer
    2. Externalities - short answer
    3. Externalities & allocative efficiency - short answer
    4. Externalities - self-test questions
    5. Public goods - short answer
    6. Merit goods - short answer
    7. Demerit goods - short answer
    8. Types of goods - self-test questions
    9. Government responses - short answer
    10. Common access resources - activities
    11. Overexploitation - questions
    12. Sustainability - report
    13. Plastic bags - carrying the weight of the environment?
    14. Running cars on biofuels can be unethical
    15. Cement - the hidden polluter?
    16. African roses - a sign of change
    17. Congestion charging
    18. Putting a price on carbon
    19. Power bills to soar in 'green reforms'
    20. Beyond Kyoto
    21. Economic growth cannot continue
    22. The rush to find Jade
    23. Chopstick tax
    24. Taxing light bulbs - that's a bright idea
    25. Trading pig excrement
    26. Congestion pricing
    27. Packaging tax
    28. Airport expansion plans
  17. Section 1.4 Market failure - simulations and activities
  18. 1.5 Theory of the firm
  19. 1.5 Theory of the firm - notes (HL only)
  20. Section 1.5 Theory of the firm - questions
  21. Section 1.5 Theory of the firm - simulations and activities
  22. Print View

Beyond Kyoto

Kyoto is the only international agreement with binding targets for curbing greenhouse gas emissions, but China and the United States, the world's biggest polluters, are not subject to its constraints. Under Kyoto, developed countries are allowed to establish domestic and internationally linked emissions trading schemes and purchase emissions reductions in developing countries and count them as their own. But on December 31 2012, Kyoto will expire without a successor agreement.

Since the 2007 Bali summit countries have been in a negotiating deadlock over different paths for a post-Kyoto agreement. Developing countries want a second Kyoto emissions reduction period because it puts the entire onus on developed countries.

Non-European developed countries want a new non-binding agreement that brings all the leading emitters into the tent. European countries want a mix of both. The failure to agree over what was being negotiated, let alone the detail, led to the eruption at the 2009 Copenhagen summit.

The absence of a global framework undermines the political and policy case for prioritising emissions cuts. Any knowledge of international relations - or human nature - should tell us that a non-binding treaty on climate change is about as effective as a peace vigil in a bombing raid. Staying with a non-binding treaty model means we are all unhappy and the planet is doomed. Good diplomacy is, as always, about taking what you can get.


You have been asked by a student run economics website to write a blog post on the theme of climate change. The editor has asked that the post summarises the recent history of international summits on climate change and then comments on the possibility of reaching a further international agreement on emissions following the expiry of the Kyoto agreement. You have decided to entitle your post 'Beyond Kyoto'.

Use the following links as a starting point for your research:

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You may also like to read the following articles relating to climate change: