Global warming from the increase in greenhouse gases has become a major scientific and political issue during the past decade. But there are many scientific uncertainties about the detailed aspect of the greenhouse effect. Policy responses for these uncertainties are being proposed by the experts in this field. This thesis describes the greenhouse effect comprehensively and discuss the alternative policy options in response to the greenhouse effect, especially in economic perspectives. The emission charge system and the marketable permit system are contrasted in relation to the greenhouse effect and the inevitability of international cooperation in coping with this problem is proposed. Finally, an efficient tax system is suggested based on the efficiency condition that minimizes the total costs of the GHG reduction and the application of the ability-to-pay principle is shown to have the same effect on the resource allocation as that of the polluter-pays principle in a simplified model.