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- Can economics help us to understand, and deal with, the prospect of climate change dueto human activities?Your answer should include reference to at least three of the following aspects of theproblem:a) A carbon tax vs cap and tradeb) The UK’s legal commitment to reduce net carbon emissions to zero by 2050c) Assessing costs to future generationsd) Bargaining over climate changee) Environmental dynamicsWhat makes climate change an economic problem? And if it is, how should policy dealwith it?Your answer should include reference to at least three of the following aspects of theproblem:a) Climate change as an externalityb) A carbon tax vs. cap and tradec) Cost-benefit analysisd) Assessing costs to future generationse) Environmental dynamics2. How can the world come together to combat climate change? Give examples.
- Critically analyse the macroeconomic and financial effects of climate change. How do these effectsdiffer between the Global South and the Global North?Imagine you are working as a climate advisor to the federal government and they want to craft a bill to drastically reduce methane emissions in America. Which of the following policies would you recommend to them as the most effective in reducing methane? a. federal and state funding being directed to the western states for large scale forest management and fire prevention b. incentive programs to reduce meat production and consumption, while additionally subsidizing alternative diet options c. a nationwide waste management program focused on composting organic material to divert waste from landfills d. incentivizing solar panels to allow for affordable renewable energy that is competitive with market pricing for energy]What is the role of carbon pricing mechanisms, such as cap- and - trade systems and carbon taxes, in addressing climate change? A. To incentivize the reduction of greenhouse gas emissions B. To promote deforestation C. To increase fossil fuel consumption D. To subsidize renewable energy sources
- A corrective tax on the emission of carbon wastes is one possible way to reduce the economic costs associated with global warming. Critically analyze the Pigovian or Corrective Taxes?Computer models of global climate changecaused by increasing carbon dioxide in the atmosphere predictnot only higher overall temperatures, but also more intense andfrequent heat waves. During the devastating European heatwave in the summer of 2003, between 35,000 and 52,000“excess deaths” occurred. Before taking specific actions toreduce carbon dioxide emissions, economists and politicians tryto estimate the costs. Should excess deaths be included as acost of inaction? If so, what value should we place on a life?1) Identify a concept on your own from Douglas North and explain it in your own words. You need to CLEARLY identify the source (i.e. name of the book and page, or link of the video and time, or name and link of the website). (one paragraph) 2) How would you use this concept to explain an observation in your life, a historical event, a cultural norm or institution, a local/international problem, create a solution to an environmental issue, or to create a business opportunity? (one paragraph)
- What are the two main approaches to tackle the problem of global warming and climate change?Watch Dan Miller’s TED talk, A Simple and Smart Way to Fix Climate Change, and address the following questions. (a) What is the economic root of the climate change problem, that is, why do people (firms, consumers, etc) engage in activities which imply a cost to the environment that exceeds the economic benefit? (b) How does Miller’s proposal relate to the concept, presented in class, of Pigouvian taxation? (c) How does Miller’s proposal relate to the concept of repeated interaction (i.e., repeated games)? (d) What are the main constraints stopping proposals like Miller’s from being implemented?Quèstion 10 2'sweswwwewewE 2 Answer OXAGON is an industrial city that will be built in NEOM. One of the factories interested to join there has been producing a dependable product used by farmers, municipalities, and suburbanites alike to co mdl grass in fields and gardens. Contributions to NEOM revenue have been minimized by international dumping of generic glyphosate, as announced in mid-2021 due to Pandemic of COVID-19. The factory sales price was decreased from $4,072 to $60,308 per gallon to compete with the highly competitive pricing, and it is expected that the international price will be around $6,968 per gallon. Assume when the price was set at $4,072 per gallon, there was a prediction that in 5 years the price would inflate to $9,853 per gallon. Determine the interest adjusted rate for inflation, if the inflation is 11% and the interest is 3% per year real return is expected by the factory.
