A system of stochastic differential equations is formulated describing the
heat and salt content of a two-box ocean. Variability in the heat and salt
content and in the thermohaline circulation between the boxes is driven by fast
Gaussian atmospheric forcing and by ocean-intrinsic, eddy-driven variability.
The eddy forcing of the slow dynamics takes the form of a colored, non-Gaussian
noise. The qualitative effects of this non-Gaussianity are investigated by
comparing to two approximate models: one that includes only the mean eddy
effects (the averaged model'), and one that includes an additional Gaussian white-noise approximation of the eddy effects (the Gaussian model’). Both of
these approximate models are derived using the methods of fast averaging and
homogenization.
In the parameter regime where the dynamics has a single stable equilibrium
the averaged model has too little variability. The Gaussian model has accurate
second-order statistics, but incorrect skew and rare-event probabilities. In
the parameter regime where the dynamics has two stable equilibria the eddy
noise is much smaller than the atmospheric noise. The averaged, Gaussian, and
non-Gaussian models all have similar stationary distributions, but the jump
rates between equilibria are too small for the averaged and Gaussian models.

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