Research Seminar in Economics of the Environment Essay
This is 4th-year economics course so please make an offer if you have an economics background. You may need to use economics methods & models in your answers.
– Select two of the three topics below and answer the corresponding questions in a mini-essay format. Relate your answers to the literature you have read on the topic. For each topic write 3-4 pages.
Topics:
1- Valuation of eco-systems:
The government is concerned about the degradation of ecosystems. You have been commissioned to provide advice to the cabinet on how to proceed.
You are to write a briefing note responding to the following questions: What method(s) have economists used to value degradation of ecosystems? Are these methods reliable? How should policy makers proceed in the future?
In responding to these questions, you may take a broad view of ecosystems, including species at risk, unique scenic landscapes, and services provided by natural processes (water purification, climate regulation, etc.), or you may focus on a sub-set of these ecosystem issues.
2- Value of life saving:
The Government of Imbecilia is considering reducing the speed limit on highways and freeways in order to reduce the number of fatal car crashes. Obviously, the main benefit of this policy would be to save lives.
The costs would primarily involve longer trip times (There are no doubt other costs and benefits but they need not concern us here). The government will have to conduct cost-benefit analysis to determine whether the policy would lead to a net improvement in social welfare or a loss.
In this analysis, how should the government determine the dollar value of lives saved? What are the issues and challenges involved in arriving at such a value? Discuss.
3- Trade Liberalization and the Environment
The Government of Canada has recently signed the USMCA, a renewed trade deal with Mexico and the US, as well as the CETA (Comprehensive Economic and Trade Agreement) with the European Union, and the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) with 10 Asia-Pacific countries.
Should we expect increasing trade through such deals will lead to increased pollution? Discuss what you have learned from the literature.
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