Environmental Economics Essay - 1937 Words

Introduction With the rampant deterioration of the environment taking place, panic striking and scandalizing environmental issues like global warming and greenhouse effect making banner headlines in our news papers and bulletins. Entire world is busy in devising energy reforms that can save the planet from plunging deep into the pit of destruction and catastrophe. In order to counter the looming energy crisis that is engulfing the world, research scientists all over the world are busy brainstorming their ageing heads in order to devise reliable energy systems, which can prove effective in resolving environmental disasters. (Costanza, 1991) In order to achieve this objective, substantial progress has been made in the form of†¦show more content†¦A question that can justly be asked here is why the exploration of renewable energy resources still in its embryonic stages? (Kosltad 2010) Renewable Resources and their Limitations From the past decade progress the renewable energy sector model under substantial innovation. The diversity of advancement ranged from the setting up of conventional wind mill and solar panel towers to the development of automobiles using water or vegetable oil as fuel. It is a well understood fact that the initial cost and expenditure required for the setting of basic infrastructure for such resources is immense. As far as solar energy and its usage are concerned another major area is that the installation of photovoltaic solar panels will cost more than a consumer can save in the form of electricity tariffs. That being said there are also a number of positive economic aspects of the renewable resources of energy that must also be considered. A collaborative research that was conducted by the professors of University of Ferrara and Bologna revealed that the use of domestic solar PV panels can save up to 2000kwh per square meter of energy and can work effectively for a period of 20 y ears. Moreover on conducting the cost-benefit analysis of the process it was found that over a period of 2 yearsShow MoreRelatedEnvironmental Economics Exam1139 Words   |  5 PagesTake-Home Exam Exercise 1 (a) If the emissions in the area are left unregulated then the two factories will emit as much as they can, which means there will be zero abatement (MAC=0). So we have: Factory A: MACA=0 4000-EA=0 EA=4000 Factory B: MACB=0 4000-4EB=0 EB=1000 For the socially optimal level of emissions we have: MACA=4000-EA EA=4000-MACA MACB=4000-4EB EB=1000-0,25MACB By adding the above by parts we get: E=5000-1,25MAC MAC=4000-0,8E The socially optimal level of emissionsRead MoreIntroduction to Environmental Economics Essay example825 Words   |  4 PagesSummer 2011 Introduction to Environmental Economics Quiz 2 (Due June 22) Instructions: Write your name and panther id on top and fill out the blanks with appropriate word/words based on your readings from corresponding chapters and turn it in the drop-box in Blackboard. The total points in this quiz are 50, each question is worth of 2 points. Chapter 6 1. â€Å"Providing the typical person alive in the future with a standard of living, including both material and environmental welfare, at least as highRead MoreEconomic, Social And Environmental Change Essay1457 Words   |  6 PagesIntroduction Economic, social and environmental change is inherent to development. Whilst development aims to bring about positive change it can lead to conflicts. In the past, the promotion of economic growth as the motor for increased well-being was the main development thrust with little sensitivity to adverse social or environmental impacts. The need to avoid adverse impacts and to ensure long term benefits led to the concept of sustainability. This has become accepted as an essential featureRead MoreThe Economic Vs. Environmental Growth Debate1408 Words   |  6 PagesThe economic vs. environmental growth debate has been a topic discussed in America for quite some time. The perfect example of this is the decision is whether America should to drill onshore for oil rather than importing their oil. Many believe that there is a relationship between the two. As the economy grows, the environment takes a knock. Some argue the need to stop economic growth and focus more on the harm that is being inflicted on the environment. As we drill onshore for oil, we are ableRead MoreThe Economic Aspect of Ecology and Environmental Issues2324 Words   |  9 Pagescircular flow model resembles the basic economic theory of an economy. As shown below in the model, the exchange of goods and services take place between two players, households and firms. It represents the three general factors of production: land, labor, and capital. These factors represent the inputs into the production of goods and services (Harris/Roach, 19). The economic output values are indicated by the counter-clockwise arrows. The category which environmental and natural resources would fall intoRead MoreNumerical Exam Questions for Environmental Economics2137 Words   |  9 PagesNumerical exam questions for Environmental Economics Spring 2006 Krister Hjalte Question 2. (29/3 1998) The inverse demand function for a non-renewable resource is Pt = a- bRt, where Pt is the market price and Rt the extraction in period t. The total gross benefit from extracting this resource can be written as an integral The extraction cost Ct= cRt, where c is a constant. Total available amount of the resource is denoted by S. From a social point of view we want to maximise the net benefits fromRead MoreEnvironmental Economics: A Short Evaluation of the Monetary Valuation of Ecosystem Goods and Services728 Words   |  3 PagesSustainable development is understood as an organizing principle for human life on a finite planet, which works toward the preservation and endurance of diverse biological systems. Throughout history we have seen interdependence between economic growth and environmental degradation, denoting a trend in human population growth simultaneous to ecosystem decline. Studies have shown that over the last fifty years, humans have changed ecosystems more rapidly and extensively than any comparable period in humanRead MoreUrban Population Of Ethiopia And Its Socio Economic And Environmental Consequences Essay1804 Words   |  8 PagesToday’s world society is rapidly becoming u rbanite and such rapid urbanization comes up with its multi variant socio economic and environmental consequences. Among many variables characterizing urbanization in the century, the most prominent one is population growth rate. World urban growth population rate is about 1.8% where as that of Africa and Ethiopia is 4.4% and 5% respectively (UN- Habitat 2004/2005; PASDEP 2006). Though Ethiopia is one of the least urbanized countries where about 83.8% ofRead MoreEconomic Development And Environmental Sustainability1904 Words   |  8 Pagessocial and economic conditions. Likewise, the structure and size of the population contribute to the shaping of the economy, society and the broader environment. The future growth, distribution and age structure of the population are key factors underpinning many analyses of long-term policy issues in Australia. Some of these issues relate to service provision, such as health and aged care. Other policy issues include the population aspects of economic development and environmental sustainabilityRead MoreSocial, Economic And Environmental Characteristics For Entrepreneurship1170 Words   |  5 PagesThis paper will explore the social, economic and environmental characteristics for entrepreneurship in the Olusosun rubbish dump as depicted in the movie welcome to Lagos. (LINES OF EXPLORATION) Nigeria faces vast inequality with a gini coefficient standing at 48. 8 (United Nations Development Programme, 2013). Lagos is home to the largest slum in the country, which is Ajungle. Nearly thirty kilometers away from the cities largest slum is a landfill where nearly 1000 people live and work