Association Webinars: Can Macroeconomic Models really Model a Low-Carbon Energy Transition?



Are the right theories and assumptions being used to integrate the economics of energy and climate change? Can the current crop of economic models (e.g., IAMs) effectively inform energy and carbon policy? What are the economic theories and assumptions behind these models, and are they up to the task? If not, what economic theories and frameworks can improve our modeling of energy and economic interactions? Join this webinar for insights into the practical and theoretical difficulties and possibilities for modeling the important linkages between energy consumption and economic growth and distribution.


Carey W. King, Research Scientist and Assistant Director, Energy Institute, University of Texas at Austin

Dr. Carey W King performs interdisciplinary research related to how energy systems interact within the economy and environment as well as how our policy and social systems can make decisions and tradeoffs among these often competing factors. The past performance of our energy systems is no guarantee of future returns, yet we must understand the development of past energy systems. Carey’s research goals center on rigorous interpretations of the past to determine the most probable future energy pathways.

His first book, The Economic Superorganism: Beyond the Competing Narratives of Energy, Growth, and Policy, highlights the ways that we should improve macroeconomic modeling by more directly incorporating physical principles.

Carey is Research Scientist at The University of Texas at Austin and Assistant Director at the Energy Institute. He also has appointments within the Jackson School of Geosciences and the McCombs School of Business. He has both a B.S. with high honors and Ph.D. in Mechanical Engineering from the University of Texas at Austin. 

Steve Keen, Professor, Distinguished Research Fellow, Institute for Strategy, Resilience and Security, University College London

Distinguished Research Fellow at the Institute for Strategy, Resilience and Security at University College London (

Winner of the Revere Award from the Real World Economics Review for being the economist “who first and most clearly anticipated and gave public warning of the Global Financial Collapse and whose work is most likely to prevent another GFC in the future.”

Specialist in complex systems modelling in economics, especially of Hyman Minsky’s Financial Instability Hypothesis. Publications also on environmental economics, the role of energy in production, critiques of Neoclassical and Marxian economics, monetary dynamics, empirical data on causes of financial crises, and economic methodology (

Previously Professor of Economics at Kingston University London UK (2014-2018) and University of Western Sydney, Australia (2007-2013).

Crowdfunded via Patreon at

Author of Debunking Economics and Can We Avoid Another Financial Crisis?.

Developer of the Open Source system dynamics program Minsky (

David Daniels, Visiting Researcher at Chalmers University of Technology; former Chief Energy Modeler of the Energy Information Administration

David Daniels is a visiting professor at Chalmers University, where he focuses on global energy systems. He is also a non-resident fellow of the Payne Institute for Public Policy at Colorado School of Mines, and he serves on the international advisory panel of the Sustainable Gas Institute at Imperial College London. Prior to moving to Sweden, Dr. Daniels spent 20 years in Washington, DC. He was the chief energy modeler at the U.S. Energy Information Administration (EIA), where he helped formulate the government's long-term energy outlooks; he developed the U.S. Department of Homeland Security's quantitative terrorism risk analysis methodology; and he worked as technical advisor to several programs at the Defense Advanced Research Projects Agency (DARPA). David began his career as a strategy consultant at The Boston Consulting Group (BCG). His academic background is in high energy particle physics, earning graduate degrees from Oxford and Harvard.


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