BX2123 Economics and Sustainable Resource Management

Assignment Help Business Economics

Reference no: EM132540337 , Length: word count:3500

BX2123 Economics and Sustainable Resource Management - James Cook University

Describe a sustainable optimal extraction of blue fin tuna proposal and to analyzea policy thatensurespeople are incentivized to comply with this sustainable extraction.

Include the following in your responses below:
• Use anyconceptin this subject's lectures/tutorials/readings to completethis final assignment assessment
• Use our (Hoteling inspired) optimal extraction approach that we have been using in class to complete the below assignment tasks.
• Clearly state any assumptions you make stating the strengths and weaknesses of your assumptions and the calculations/estimates you then make when using those assumptions
• Research the blue fin tuna sustainability issue online and provide proper references (in a style of your choosing) for information you use.
• Justify the policy you prefer by discussing its cost effectiveness.
• Use the belowheadings and write a 500 words response for each heading.

Heading 1: is blue fin tuna considered in danger of being overharvested?
[In 500 words (using the internet to research information and using properly referenced materials) describe the status of blue fin tuna i.e.,does literature suggest blue fin tuna is at risk of being overharvested?]

Heading 2: Use Hoteling to checkwhether blue fin tuna extraction is sustainable
[In 500 words explain how Hoteling optimal extraction concepts (that we have used in class) can verify if overharvesting is taking place - please do not perform calculations - please provide a handwritten diagram to support your explanation]

Heading 3: strengths and weaknesses of our assumptions
[In 500 words discuss the assumptions made when using our Hoteling optimal extraction approach - discuss how the rate of return, growth rate, price, marginal extraction cost and other relevant information can affect the result of a Hoteling analysis of optimal extraction of blue fin tuna]

Heading 4:Sustainable extraction quantities for blue fin tuna are possible
[In 500 words explain how, for blue fin tuna, you are able to calculate a sustainable extraction quantity- do not perform calculations - please provide a handwritten diagram to support your explanation]

Heading 5: Sustainable extraction policy for blue fin tuna
[In 500 words create a government policy and also create a market policy that each ensure sustainable extraction of blue fine tuna - do not perform calculations].

Heading 6: Contingent valuation and cost benefit analysis for a blue fin tuna sustainability project
[In 500 words discuss how contingent valuation and cost benefit analysis, when used together, can determine the willingness to pay for the sustainability of blue fin tuna and then select the best project to do so - consider the strengths and weaknesses of this approach].

Heading 7: Prisoner's dilemma and ensuring an international sustainability policy for blue fin tuna
[In 500 words consider the possibility of a prisoner's dilemma occurring (which results from a tragedy of the commons situation) between two countries that could put at risk the blue fin tuna sustainability].

Attachment:- Economics and Sustainable Resource Management.rar

Reference no: EM132540337

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