On June 16, 2021, William D. Nordhaus, the winner of the Nobel Prize in Economic Science, delivered an online academic report entitled "Economic Approaches to Climate Change Policy" for teachers and students at the " Distinguished Lecture Series, BIT ". More than 300 teachers and students attended the report in Zhongguancun and Liangxiang campuses. Participants in the report also include staffs from the Ministry of Science and Technology of the People’s Republic of China, the National Natural Science Foundation of China, the Chinese Academy of Sciences, the Graduate School and the International Exchange and Cooperation Office of the BIT and other departments, as well as part-time professor Zi-Li Yang. The report was hosted by Yi-Ming Wei, Chair Professor and Vice President of Beijing Institute of Technology (BIT).

   Professor Yi-Ming Wei extended a warm welcome to Professor Nordhaus. He briefly introduced the achievements of Nordhaus and the basic situation of the Center for Energy & Environmental Policy Research , BIT.

   In his report, Professor Nordhaus introduced the current situation of global carbon emission, and pointed out that the effect of global emission reduction was not significant. Simultaneously ，he elaborated the problems faced by global low-carbon transformation and the challenge of insufficient incentives for the development of low-carbon technologies. After this, he proposed to adopt a higher and continuously increasing global uniform carbon price to promote emission reduction and put forward solutions to the "free rider" problem. At the end of the report, he answered the questions raised by teachers and students. Professor Nordhaus's rigorous academic attitude and master style left a deep impression on the teachers and students present.

   In recent years, Professor Yi-Ming Wei 's team of Beijing Institute of Technology (BIT) has conducted in-depth cooperation with Professor Nordhaus of Yale University and Professor Zi-Li Yang of Binghamton, and jointly undertaken Yale Climate Change Research Project (YCCRP) led by Professor Nordhaus. Significant progress has been made in cooperative research and personnel training.

   Professor William D. Nordhaus, a world-famous economist, who is Sterling Professor of Yale University, academician of the American Academy of Sciences, the founder of climate change economics, and the former president of the American Economic Society. In 2018, he won the Nobel Prize in economic sciences for "Integrating climate change into long-term macroeconomic analysis". He has been committed to the study of climate change economics since the 1970S and worked in many academic institutions such as the Climate Change Committee of the American Academy of Sciences. He published a series of Monographs on climate change economics and co-authored the famous textbook Economics with Samuelson. The comprehensive assessment model of climate change DICE/RICE developed by him is classical in the field of climate economy.

Professor Nordhaus's job profile:

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