Assignment:
Word limit: 1200 words, across all questions. Marks will be deducted for exceeding the word limit.
Marking: Marks will be awarded based on how well you: (a) understand the economic conceptsfrom the lectures; (b) apply the appropriate concepts to the question(s); (c) conduct systematic analysis using the concepts; (d) engage in critical discussion; and (e) draw conclusions.
Presentation: Assignments must be typed, using 10 - 12 sized font and 1.5 - 2 line spacing.Graphs and diagrams can be hand drawn and scanned in, but must be clearly drawn and clearly labeled.
Read the attached newspaper article for some background on the issue of climate change in Singapore: "Singapore pledges new 2030 greenhouse gas targets to limit climate change"- The Straits Times, 3rd July 2015.
Then use economic analysis to answer the following questions. Ensure that you use relevant economic concepts (and diagrams, where appropriate) in your answers. Note that general layman or broadbrush journalistic discussions do not constitute sufficient economic analysis.
QUESTIONS:
1. According to economic theory, under what circumstances should a government intervene in
issues of climate change?
Extra pointers to include:
-Economic analysis
-Climate change: Global warming problems?
-Economic causes of climate change
-Negative extrenalities: explanation,diagrams, market failure
-Are third parties in society affected?
-World production and consumption point of view
2. Climate change results from particular human activities in every country across the world. To hat extent can government intervention in any individual country such as Singapore be effective in combating it?
Extra pointers to include:
-If individual government implement policies, to what extent will it help achieve desired outcome?
3. What different public policy solutions are available to an individual government such as Singapore's to combat climate change? What are the pros and cons of each?
Extra pointers:
-Have 3 public policies, elaborated and explained, with pros and cons listed clearly. (example of public policy can be: policy to reduce carbon emissions
-1 policy to have negative externality diagram (Eg; Tax on goods to help solve problems?)
4. Provide examples of what each of us as private individuals can do to combat climate change in the absence of government regulation. Is this kind of private solution likely to be effective?
Extra pointers:
-Individually what can we do? (eg; drive less, cycle instead) Would these improve the situation?
- Have at least 3 solutions with proper elaboration