QUESTION ON RESOURCE & ENVIRONMENT ECONOMICSMicrosoft Word - Policy Report.docx 1 ECON3034...

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QUESTION ON RESOURCE & ENVIRONMENT ECONOMICS

Microsoft Word - Policy Report.docx 1 ECON3034 Resource and Environmental Economics Policy Report (20%) DUE: November 7 @ 11: 55 pm EC Assignment Description and Instructions: • The policy report should be no more than 10 pages. It should be typed in Times New Roman typeface, size 12 and 1.5 line spacing. • Report should be saved as a PDF document. • Students MUST reference using the APA referencing style. Quotations of more than two lines should be set off from the text in single spacing and indented at least 2 inches from the left-hand margin. • Tables and figures should appear as close as possible to the text where they are discussed. They should be listed by number, title and page numbers in the List of figures, tables, charts, illustrations page. 2 Write a policy report analysing the economic environment of an industry of your choice, which is found within the Caribbean region: (a) Determine the Caribbean country or countries in which the industry can be found and construct a table showing the contribution to GDP (for the last five years) for each country. (b) Identify the main methods of environmental valuation that can be applied and assess their effectiveness in measuring the negative environmental impacts of the industry. (c) Based on your assessment of the economic environment, what opportunities and challenges are likely to emerge for this industry in the long run? (d) Express your agreement or disagreement with the use of a Cost Benefit Analysis approach for the purpose of future economic development in this industry. Support your policy report with specific data, facts and evidence from the Caribbean. The following links may be useful: Writing policy briefs and Reports - UTM https://www.utm.utoronto.ca/asc/sites/files/asc/public/shared/pdf/wdi/sample_course_materials/s oc/SOC_PolicyWritingGuide.pdf Writing Sample Policy Report on Affordable Housing https://www.slideshare.net/MichelleFeldman5/writing-sample-policy-report-on-affordable- housing The policy report should include: • Introduction • Literature Review / Critique/ Analysis of status quo • Opportunities / Challenges • Evaluation of cost-benefit analysis for the chosen industry • Conclusion 3 The following rubric will be used for the policy report: Excellent Good Satisfactory Poor Introduction (5marks) Theintroductionand objectivesareclearly stated.Backgroundand contextareclearly articulatedand effectivelylinkedto objectives. 5points Theintroductionand objectivesareclear. Backgroundandcontext arepartiallydescribedand mostlylinkedtoobjectives. 4points Theintroductionand objectivesareclearbut thebackgroundand contextarenotwell describednorclearly linkedtoobjectives. 2–3points Theintroductionis vague.Backgroundand contextarevagueor absolutelylackingand therearenoclearlinksto objectives. 0-1points Literature Review/ Critique (10marks) Evaluativereviewofthe currentsituationforthe industrywithlogically soundreasonsand/or well-chosenexamples. Eachassertionis supportedwith researchableand verifiablesupportfrom reputablesources.No biasisevidentinthe analysis. 9-10points Explainsmostofthefactors impactingtheindustrywith logicallysoundreasons and/orwell-chosen examples. Assertionsaregenerally well-researchedand supportedbyappropriate referencematerials.No biasisevidentinthe analysis. 8points Explainssomeofthe factorsimpactingthe industrybutisweakin theuseofrelevant reasonsorexamples. Someevidenceis providedtosupport manyoftheassertions, butnotall.Reference materialsmaybe inappropriate. 5–7points Identifiesthefactors impactingtheindustry butlittleornoattemptto carryoutanevaluative review. Norelevantreasons and/orexamples provided. Assertionsand statementsareweak, unsupportedorbiased. 0–4points Opportunities/ Challenges (20marks) Atleasttwo opportunitiesandtwo challengesarepresented fortheindustry.A thoroughcost-benefit analysisisprovidedfor each. Studentsareinnovative inidentifyingrelevant challengesand opportunities.Allideas providedarenew. 9-10points Atleasttwoopportunities andtwochallengesare presentedfortheindustry. Athoroughcost-benefit analysisisprovidedfor each. Someinnovationis observedinthe identificationofchallenges andopportunities.Someof theideasprovidedarenew. 8points Atleasttwo opportunitiesandtwo challengesarepresented fortheindustry.An adequatecost-benefit analysisisprovidedfor each. Littleinnovationinthe identificationof challengesand opportunities.Student reliesonideas/strategies thatalreadyexist.No newideaspresented. 5–7points Nomorethanone opportunityandone challengeispresented fortheindustry. Aninadequateorno cost-benefitanalysisis provided. Studentsimplyprovides ideas/strategiesthat alreadyexist. 0–4points Evaluation (15marks) Evaluationindicates originalthought, synthesisofideasandin- depthanalysis. Mainpointswell developedwithhigh qualitysupporting details.Revealshigh degreeofcritical thinking. Evidenceandexamples arevividandspecific. 14–15points Evaluationindicates originalthinkingand developsideaswith sufficientandfirm evidence. Mainpointswelldeveloped withqualitysupporting details.Criticalthinkingis weavedintopoints. Therearegood,relevant supportingexamplesand evidence. 11-13points Evaluationindicates thinkingandreasoning appliedwithoriginal thoughtonafewideas. Mainpointsarepresent withlimiteddetailand development.Some criticalthinkingis present. Therearesomeexamples andevidence,though general. 8–10points Showssomethinkingand reasoningbutmostideas areunderdevelopedand unoriginal. Mainpointslackdetailed development.Ideasare vaguewithlittle evidenceofcritical thinking. Therearetoofew,no examplesandevidence ortheyaremostly irrelevant.0–7points Conclusion (5marks) Conclusionsareclearly statedandconnections totheargumentsand positionsareclearand relevant.Theunderlying logicisexplicit. 5points Conclusionsareclearly statedbutconnectionsto argumentsandpositions arenotalwaysclearand relevant-someaspects maynotbeconnectedor minorerrorsinthe underlyinglogicare present.4points Conclusionsarepoorly statedandconnectionsto argumentsandpositions areveryunclear/ irrelevant.3points Conclusionsarevery poorlystatedandthe connectionstothe argumentsandpositions areincorrect,unclear, irrelevantorpresented withoutexplanation. Underlyinglogichas majorerrors. 0-2points Writingand References (5marks) Thereportiscoherently organizedandthe argumentsandpositions areeasytofollow.There Thereportisgenerallywell organizedandmostofthe argumentsandpositions areeasytofollow.There Thereportisnotvery wellorganisedandonlya fewargumentsand positionsareeasyto Thereportispoorly organizedanddifficultto read–doesnotflow 4 arenospellingor grammaticalerrors. Fourormorereferences wereused/cited. Referenceswere: 1.Appropriateforthe contextofthe Project/Report. 2.Wereverycurrent whereapplicableusing referencesproduces duringthelast2years 3.Usedeffectivelyinthe Project/Report. 4.Writtenusingthe latestAPAstyleformat. 5points areonlyafewminor spellingand/or grammaticalerrors. Threereferenceswere used/cited. Referenceswere: 1.Mostlyappropriatefor thecontextofthe Project/Report. 2.Notalwayscurrentusing referencesproducedlater than2years 3.Usedmostlyeffectivelyin theProject/Report. 4.Writtenusingthelatest APAstyleformatforthe mostpart. 4points follow.Thereareafew minorspellingand/or grammaticalerrors. Tworeferenceswere used/cited Referenceswere: 1.Somewhatappropriate forthecontextofthe Project/Report. 2.Wereforthemostpart, outdatedi.e.produced laterthan4yearsago 3.Noteffectivelyusedin theProject/Report. 4.Writtenusingthe latestAPAstyleformat wasinconsistent throughout 3points logicallyfromonepartto another. Theargumentsand positionsarenoteasyto understand. Onlyonereferenceorno referenceswereused/ cited. References,ifused were: 1.Notappropriatefor thecontextof Project/Report. 2.Notcurrent–used referencesolderthan4 years 3.Ineffectivelyusedin theProject/Report. 4.Notwrittenusingthe LatestAPAstyle. 0-2points

policy-report-1h5iyfps.pdf

Ayushi · Accepted Answer

ECON3034 Resource and Environmental Economics:
Contents
Industry: Travel and Tourism	3
Valuation methods:	5
Benefits:	7
Challenges:	9
Cost-benefit analysis:	11
References:	13
Industry: Travel and Tourism
The administrations area has filled altogether in many nations and on the planet economy in general. This has been seen in the movement from essential to auxiliary and additionally tertiary area drove monetary development and improvement. Administrations contribute altogether to yield, work and commodities. They represent around 80% of the United States yield (GDP) and around 65% of GDP of the European Union. Created nations are the biggest help exporters representing more than 70% of administrations exchanged the last part of the 1990s. Albeit emerging nations represent a somewhat little extent of globally exchanged administrations their commodities of administrations became more altogether than those of created nations during the 1990s. Travel and the travel industry are the main help products of non-industrial nations. Commodity of monetary administrations turned out to be progressively critical since the 1990s. Most Caribbean nations have moved straightforwardly from essential area drove advancement to tertiary-area drove improvement. Regardless of this, information assortment and bookkeeping techniques remained generally one-sided towards estimation of the products creating areas of the economy. This is presumably because of the way that the yield of administrations areas is harder to quantify than that of products areas. A contributor to the issue of estimation has to do with the treatment of administrations inside products creating areas. One can decide the commitment of administrations to yield if, for instance, a firm assembling refreshments buys bookkeeping and transport administrations from outside makers of those administrations. Assuming, notwithstanding, the firm being referred to produces the administrations in house then those administrations would be incorporated as assembling yield. Since administrations establish a huge piece of creation, the complete yield of administrations is along these lines liable to be thought little of. The commitment of the administrations area to development could accordingly be a lot bigger than is authoritatively recorded. Isolating the administrations part from the assembling part would help in deciding the variables that add to the intensity of specific enterprises and items. It would likewise help in deciding the genuine worth of administrations trades from Caribbean nations. To successfully gauge or evaluate the commitment of administrations to monetary development and improvement it is helpful to realize what comprises assistance. Assistance can be characterized as a financial action that delivers a decent or item that is theoretical or undetectable. It tends to be either an eventual outcome or a contribution to another financial movement ("The development of services in the Caribbean", 2021). It is in this manner best comprehended as far as its attributes. Assistance, in contrast to a decent, can't be seen and it must be devoured while it is being given. Administrations in this way can't be amassed like merchandise.
Refer the data from 5 Caribbean countries as the contribution of tourism industry to the country’s GDP ("World and regional statistics, national data, maps, rankings", 2021):
	
	2020
	2019
	2018
	2017
	2016
	Aruba
	44%
	63%
	88%
	90%
	28.6%
	Antigua and Barbuda
	54.5%
	44.7%
	44.1%
	45.8%
	44.2%
	Bahamas
	14.8%
	19.52%
	19.63%
	47%
	19.39%
	Barbados
	40%
	36.2%
	37.5%
	39%
	33%
	Saint Kitts and Nevis
	12%
	10.8%
	9.67%
	9.66%
	8.88%
Valuation methods:
A few ecological valuation strategies are presented beneath. The determination of a technique will depend on the ecological effect on be evaluated and information accessibility. The techniques are introduced in diminishing request of dependence upon market data and include: (I) strategies in view of market data; (ii) strategies dependent on substitute market esteems; and (iii) techniques in view of possible use or ability to-pay ("Environmental Valuation | Sustainability: A Comprehensive Foundation", 2021). One should look to put monetary qualities on all ecological capacities that might be impacted by an undertaking.
1. Market based methods:
The techniques considered in this part depend straightforwardly on market costs or usefulness. They are material where an adjustment of ecological quality influences genuine creation or creation capacity.
· Change in productivity:
This technique gauges the effect of an adjustment of the climate on the travel industry.
· Loss of earnings:
This technique estimates the impacts on wellbeing from natural dangers like air and contamination dependent on the deficiency of income and the expense of clinical consideration.
· Defensive or preventive expenditures:
This technique induces the genuine benefit of shielding the climate from what individuals spend to forestall the harm or to reestablish the climate thereafter.
2. Surrogate market value:
The techniques considered in this segment use market data in a roundabout way. Each has its specific benefits and drawbacks, just as explicit necessities for information and assets.
· Property value:

Microsoft Word - Policy Report.docx 1 ECON3034 Resource and Environmental Economics Policy Report (20%) DUE: November 7 @ 11: 55 pm EC Assignment Description and Instructions: • The policy report...

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