6). Can Micro help us to better care for the earth?

Use your knowledge of microeconomics, especially externalities and public goods to discuss and answer the following question.

Can the logic of microeconomics help us to deal with global warming?

What are micro's limits in this regard? What else might be needed outside the realm of micro?

Be bold, you are welcome to imagine new international government institutions as well as new methods of assigning property rights around the world. You should attempt to:

1). Define the problem in micro and externality or public good terms.

2). Discuss how each of the possible solutions might be helpful or not in dealing with climate change.

a). Mergers

b). Social Norms

c). Coase Theorem

d). Command and Control Regulation

e). Pigouvian taxes

f). Tradable Permit Markets

g). Other Methods