Please give an example of economic analysis on Environmental policy or recent environmental news. The analysis...

Please give an example of economic analysis on Environmental policy or recent environmental news. The analysis should include material related to externalities, internalization of externalities, and coase theorem. The analysis should be about one page typed. Thank you

Expert Solution

Answer:IPCC's Report regarding increasing levels of PM 2.5 and PM 10 in to the environment which is main cause of many problems related to health and environment i.e. T.B. and many air borne diseases,increase in Effect of climate change and many more,these are all externalities and effect of externalities which will later cost more than what has been earned by economic growth.

To tackle it Initiatives like Emission Trading System on Stock Exchanges can be used,in which Firms which used to emit greater than a prescribed limit will have to pay for exceeding the limit.

Here we can analyse an environmental policy on the basis of Coase theorem which was given by Ronald Coase.Thos Theorem states that Well defined property rights can be used to overcome the problem of Externalities.It also held that polluter and victims can be reached on mutually beneficial bargain if pollution cost is higher than net return by the goods produced.

Hence in such condition when such high air pollution is costing so many lives degrading then this can be used when property rights given to victims (government as representative of people who is suffering due to pollution),then Polluters will pay to compensate the victims.

On same system this trading system will function,but one of the drawback is it doesn't take account of externalities affecting and will affect future generations.

Rahul Sunny answered 2 years ago

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