Environmental Economics Essay.

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The optional paper should be 10-15 pages long and should address environmental issues, providing an economic perspective. The format should follow a policy memo. Creativity, economic insight, as well as provision of useful and relevant information is appreciated. You can use a project to analyze a policy, an institution, or an economic problem. You can rely on materials on the web, in the library, and personal interviews. Always remember to quote your sources and give references in a bibliography or in footnotes. It does not matter what style you use to cite your sources but you should be consistent. It is important that the paper has a point: analyze a problem, suggest a policy, provide an explanation, etc. Topics: �� Potential Negative Impacts Associated with Overpopulation �� The National Pollution Discharge Elimination System (NPDES) Permits (This paper analyzes a policy that was part of the Clean Water Act.) �� Energy in China �� How much is Heather Farms Park worth to the people of Walnut Creek? An investigation of willingness to pay �� The Economics of Oil Prices �� Radiation Contamination and U.S. Responses to Contain Its Growth �� Rhino Resources �� Sustainable Development: the Balance of Growth and the Environment �� Pesticide Contamination in Groundwater �� The Mekong River Development Project – Evil-ution of the River �� Animal Waste: How Much is Too Much? �� The Kyoto Protocol �� Toward Sustainable Fishery: The Regulations: In the Case of Pacific Halibut Fishery �� The Complex Web of Forestry Legislation �� The Decline of the Fish Population �� Climate Change: Bridging the Gap Between Industrialized and Developing Nations by Economic Means �� The Three Gorges Dam Project: Benefit for the Future of Uncalculated Risk? �� In Search of a Solution to California\’s Water Quality Crisis  �� The Exxon Valdez Oil Spill of 1989 �� Who Should We Believe When it Comes to Overpopulation and Natural Resource Depletion? �� Paper Recycling: An Economic Analysis �� The Grazing Debate in New Mexico, The Economics of Land Use �� Soaring Gas Prices in California and Across the Nation �� No More Ocean Dumping �� Cost Benefit Analysis of Methyl Tert-Butyl Ether (MTBE) �� The Environmental Economics of the Whaling Industry �� Ecotourism and its Impacts �� Air Pollution in Tehran; with Emphasis on Automobile Regulations �� Pacific Bell Park: The Economics of Lead-Based Paint and Air Pollution �� Spring-Run Chinook Salmon �� Water on Tap: An Exploration of the Factors that Contribute to Safe Drinkable Water �� Smoking as an Externality �� Air Pollution: Nature\’s Power Over Man: When can we Safely Breathe? �� Issues on Carbon Dioxide Emissions �� The Economics of California\’s Coast �� Wildlife Habitat Management: Benefit-Cost Analysis of WHIP (Wildlife Benefit Incentive Program) �� The Economies of Transplants �� Economic Impact of Industrial Pollution in Korea �� The Facade: Water Projects in Inyo County �� The Federal Agricultural improvement and Reform Act of 1996: An Economic Analysis �� Mountaintop Mining in the Appalachian Mountains �� The Environmental Costs of Economic Reform �� Recognizing the Rewards of Agricultural Research, Extension, and Education �� The Decline of Salmon in the Northwest by Dams �� A Case Study: Economics of the Transboundary Movement of Toxic Waste �� The Effects of MtBE Pollution on Residential Water Pricing in South Lake Tahoe, California �� Externality Costs Caused by Wastes in Japan �� Out on a Limb: Saving the World\’s Forests �� Implications of Scale Economies in the Gold Mining Industry on Cyanide Pollution �� Ballot Measure and the Environment �� Dealing with the Externalities of Smoking �� Radiation Contamination and U.S. Responses to Contain Its Growth �� Effect of A Mining Model in Namibia �� The Effects of Water Subsidies on Irrigation Efficiency Please make it awesome. It is really important to my life.



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Environmental economics may be defined as the theoretical and empirical studies of the environmental uses and abuses under the context of economics. The study of environmental economics incorporates economic aspects such as market failure, valuation, and externality into the field of environmental study.  This study explores the topics such as pollution, alternative forms of energy, water quality, green economy, oil pricing, and carbon emissions and integrates the concept of sustainability into the topics. The motive of environmental economics is to realize maximum societal benefits through minimum usage of the natural resources. This paper reviews the concepts and policies surrounding environmental economics, relate them to case studies, and draws recommendations concerning certain issues.

  1. Concepts in Environmental Economics

Market failure

            Market failure is a significant concept to environmental economics. This concept may be explained as a situation whereby the market fails to offer resource efficiently as Hanley and Shogren posit this situation occurs when a market won’t allocate scarce resources to create a great social welfare. The situation may impose a wedge between what a private person would do given the market prices, and what the society would expect them to do. Such wedges imply that there may be inefficiencies or wastefulness; resources could be reallocated to make such persons better without affecting the others. Common types of market failure include non-excludability, non-rivalry, and externalities (2007, p. 142).


            In economics, this concept refers to a benefit or cost incurred by an individual rather than the buyer or seller. This positive externality is beneficial, whereas a negative externality imposes costs to society. The relevance of this concept in environmental economics applies in situations such as smoking or industrial pollution. In the case of a factory emitting pollution may not take the cost of pollution that it imposes on the surrounding communities. Environmentalists have been in the constant fight to reduce the impact of carbon pollution without paying attention to their effects to the on the community. Economists try to adapt the best financial situation to trap more people. Environmental economists combine the two approaches to realize economic advancement without compromising the effect on the environment (Hanley & Shogren, 2007, p. 143).



            Determining the value of natural resources may be viewed as one of the hardest issues in environmental economics. Some resources such as oil may have a monetary value attached to them; however, it would be near impossible to estimate the exact value of having a green environment to be used by the future generations (Hanley & Shogren, 2007).  A lot of ambiguity surrounds valuation of natural resources because although their value would be infinite to some people, others may view it as worthless. Other environmental resources such as the ozone, clean air, and lack of pollution may be intangible therefore; no price would be attached to them.

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