ECS2606 Latest exam pack questions and answers and summarized notes for exam preparation.
ECS2606 Latest exam pack questions and answers and summarized notes for exam preparation. Updated for 2024 exams
ECS2606 Latest exam pack questions and answers and summarized notes for exam preparation
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BRILLLIANT TUTORS
ECS2606
Assignment 2
DUE 20 September
2024
[Year]
[Type the company address]
, Book
Environmental Economics
ECS2606 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024) - DUE
20 September 2024 ; 100% TRUSTED Complete, trusted solutions and
explanations.
. 1. Discuss the different incentive-based policies which are available
in environmental economics. [10]
Incentive-Based Policies in Environmental Economics
Incentive-based policies create financial incentives or disincentives to encourage
environmentally friendly behavior, offering flexibility to firms in choosing the most cost-
effective methods for pollution reduction. Unlike command-and-control regulations that mandate
specific actions, these policies utilize economic tools to guide behavior.
Common Incentive-Based Policies:
1. Pollution Charges (Taxes):
o Mechanism: Imposing a fee on each unit of pollution emitted.
o Impact: Encourages firms to reduce emissions to lower costs.
o Example: Carbon tax on fossil fuel consumption.
2. Tradable Permits:
o Mechanism: Issuing a limited number of pollution permits that can be bought and
sold.
o Impact: Firms with lower abatement costs sell permits to those with higher costs,
optimizing overall cost efficiency.
o Example: EU Emissions Trading System (ETS) for greenhouse gases.
3. Subsidies:
o Mechanism: Providing financial support for environmentally friendly activities.
o Impact: Promotes investment in clean technologies.
o Example: Subsidies for renewable energy projects.
4. Deposit-Refund Systems:
o Mechanism: Consumers pay a deposit on products, refunded upon proper
recycling or disposal.
o Impact: Incentivizes recycling and reduces waste.
o Example: Deposit on beverage containers.
5. Market-Based Instruments:
o Mechanism: Utilizing market forces to achieve environmental objectives.
o Impact: Often more efficient and flexible compared to direct regulation.
o Examples: Green procurement, environmental labeling, eco-certification.
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