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Explain the environmental externality and clearly identify

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Reference no: EM133575357

Case Study: There are a consultant working for the hypothetical consultancy 'Environmental Policy Solutions Inc.' There are currently no projects for place to work on so instead the Director has asked to research a particular environmental externality to further develop the company's expertise. The task is to choose an environmental externality such as air or water pollution, litter or agricultural runoff. This issue can be sourced from newspapers, or other media, it can be local to Victoria, or Australia, or even international. The objective is to evaluate your chosen policy to manage this environmental externality based on economic principles.

Questions: In your response, as a minimum, you should:

  1. Outline the current policy (if any).
  2. Explain the environmental externality and clearly identify those impacted.
  3. Evaluate the policy using the analysis of environmental externalities and policy solutions in this subject.
  4. Assess the costs and benefits of the policy (give a qualitative answer rather than quantitative).

 

Reference no: EM133575357

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