Tuesday, January 6, 2009

Economic Modelling



My journey is on its way and I have moved from the humble brick (which comes in 800 colours) to The Treasury, Australian Government: Australia's Low Pollution Future: The Economics of Climate Change Mitigation. With a title like that it sounds like they need an acronym – TAGALPFTECCM. On second thoughts the acronym looks longer than the original title.

http://www.treasury.gov.au/lowpollutionfuture/

The Treasury department has been doing some modelling (not the clay sort) about reducing emissions in the medium and long term. Early reductions will be less expensive than later ones. Perhaps they should just say a stitch in time saves nine.

What I learned that was special:
• The Treasurer and the Minister for the Environment admit this is one of the most complex economic modelling projects undertaken in Australia.

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