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give an example of an equity (fairness) issue that arises in working toward a global agreement to limit greenhouse gase emissions.
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- Consider the global market for carbon dioxide. how would you Explain the economic theories of intertemporal choice, choice under uncertainty, and externalities help in understanding this market and its welfare consequences, as well as the challenges one encounters when trying to apply such theories to this context?Explain how marketable emission credits add to overall economic efficiency, compared to across-the-board limitations on maximum discharges of air pollutants by firms.Typically this kind of economic activity results in environmental harm through production and consumption externalities. When a country such as Econ Land manages to break the link between economic activity and environmental harm, it is known as ["decoupling", "uncoupling"] . Whether Econ Land has truly broken this link or not depends on the amount of ["export pollution", "import pollution"] they are responsible for, pollution in other countries resulting from the production of products consumed in the country of Econ Land.
- Some economists claim that grinding poverty and impatience impel people to strive for immediate gain, forgetting long-term environmental sustainability. You are an Environmental Economist in the Ministry of the Environment and Beautification in your local country, and you are tasked with holding a team meeting and the Chief Economist has given the following guidelines: II. two critiques (most recent) of the environmental Kuznets Curve. III. the importance of inter-generational equity and optimal depletion with regards to non-renewable resources.From an economic perspective, the optimal quantity of CO2 is:a) zerob) the level at which species extinction is eradicated c) the level at which the marginal benefit of emissions = the marginal cost of emissionsd) the level at which the rate of economic growth = rate of inflatione) the level at which the total average costs of emissions reach a minimumgive an example of efficient (market failure) isuue that arises in working toward a global agreement to limit greenhouse gas emissions.
- In an attempt to bring equity to the climate change agreement, the Framework Convention on Climate Change incorporated the concept of common but differentiated responsibilities, which suggested what? Select all that apply: a. developing countries may need to hinder their growth in order to meet emission reduction goals b. responsibility for reducing emissions should be placed on large corporations rather than countries c. all countries should be responsible for the same percentage of emission reductions d. the richest countries of the world should cut emissions prior to developing countries e. countries that have contributed more to overall emissions should be responsible for more reductionsDescribe one type of negative market externality with a forest as it relates to climate change. Explain what the negative externality is and what it means for the market with no government intervention. b) Now describe two different ways the government could intervene in the market you described in the previous question. How does each government action change that market and what are those changes c) Identify two important ways that a natural resource economist can support the government interventions you have described in this questionEmission charges and cap-and-trade systems are the two dominant market incentive-based approaches for the reduction of emissions. Describe how an emission charge or tax works. Describe how a cap-and-trade system works. Contrast the two systems: what are the fundamental differences between them? Do those differences matter? Provide two examples of jurisdictions that impose a carbon tax. Provide two examples of jurisdictions that imposes a cap-and-trade regime. As the manager of a business that produces emissions, which system would you prefer to face? Why?
- There is increasing scientific evidence that climate change caused by human actions has substantially impacted surface temperatures on Earth. However, what is unclear is the tools available to managers and policymakers to reduce carbon emissions. Greenhouse gas emissions come from a large number of sources such as power plants, and factories to automobiles all around the world. Therefore, the number of pollution sources that need to be controlled is enormous. Additionally, countries often balk at the enormous price of curtailing their emissions. To address some of these challenges, the European Union adopted a cap-and-trade system to reduce their emissions. As an economic advisor and consultant to the European Union, your opinion has been sought on the cap-and-trade system and whether it is beneficial in reducing carbon emissions. Using the tools of managerial economics, analyse the cap-and trade system and comment on the ability of this policy to reduce carbon emissions. Does a…Consider the main approaches to environmental policy— lawsuits, command-and-control laws and regulations, and economic policy tools. Describe an advantage and a disadvantage of each. Do you think any one approach is most effective? Could we do with just one approach, or does it help to have more?To evaluate potential policy options that address emissions and climate change, economists often recommend a thorough cost-benefit analysis, in which the avoided environmental and human health damages are weighed against the["marginal abatement costs", "marginal abatement benefits"] . Most estimates by environmental economists suggest that the benefits of emission reduction are somewhere between 5-20% of world GDP, while the costs are between 1-4%. Using a cost-benefit analysis, this would imply that these policies ["should", "should not"] be implemented. The resulting policies can take the form of ["preventive", "adaptive"] strategies, those that reduce damages resulting from climate change, or ["preventive", "adaptive"] strategies that reduce emissions.
