On January 16, 2019, Prof. Dr. Tran Tho Dat - NEU President had a meeting with Prof. Terry Iverson - Expert on climate change economy, University. Colorado State, USA.
Attending the meeting, on the side of the National Economics University, there was also a PhD. Dao Thanh Tung - Director of International Cooperation Department; Associate Prof. Dr. Dinh Duc Truong - Dean of Environment and Urban Faculty; with the university’s officials and lecturers.
Speaking at the meeting, Prof. Dr. Tran Tho Dat - NEU President noted and appreciated the relationship between National Economics University and Colorado State University, USA in the years. He hoped that this visit and lecture by Prof. Terry Iverson would be a good start for the development of the Department of Economics & Climate Change Management - Faculty of Environment & Urban in particular and for the study of climate change in the economic aspect of Vietnam in general.
Prof. Terry Iverson also hoped that the working session today would open up many opportunities for the two universities to increase their exchanges and experiences from each other. The relationship between the two universities will become stronger and more developed.
After the meeting with the university leaders, Prof. Terry Iverson - Colorado University gave a presentation on "Climate change economics and some policy implications" to lecturers and students of National Economics University. In his presentation, he shared that “Climate change is a form of external market-related failure. The theory of externalities and public goods is the starting point for economic analysis of climate change. However, climate change has some differences compared to other types of market failures such as: the comprehensiveness and complex nature of climate change impacts - long-term impacts and increase over time,... Hence, economic analysis of climate change must be considered in many different respects.’
In his presentation, Prof. Terry Iverson also presented the model of DICE (The Dynamic Integrated Climate - Economy) - developed by Prof. Laureate William Nordhaus - winner of the Nobel Prize for 2018 for the achievement of integrating climate change into long-term macroeconomic analysis. Prof. Terry Iverson emphasized that the needs and results of economic analysis of climate change to provide information for planning climate change policies has been increasing in recent decades, so finding methods balance the costs and benefits of achieving reasonable goals for climate change mitigation, adapting to climate change is the primary goal of modern economics.