Helloit is a research essay about economics, its 1400 word and some research are already done, the due date in 38 hours.more instructions attached
Scope of research essay
Plastic pollution in the marine environment, and the negative impact on biodiversity and human health via the food chain is of increasing concern (UNEP (2014), Standing Committee on Environment and Communications (2016)). Whilst the management of macro-plastics (e.g. plastic bags, bottles and straws) has seen some economic policy success, (e.g. through reuse and recycling of plastic waste etc.), the same cannot be said of micro-plastics (Dauvergne, 2018).
A key source of micro-plastic pollution is from the wear and tear of tyres, as a result of private car travel. It is estimated that emissions from tyre wear alone makes-up between 5-10% of micro-plastics deposited in the oceans (Kole et al. 2017). However, private car travel remains the cornerstone of urban mobility globally with no signs of abating. Demand is expected to shift to electric and hybrid cars, oft touted greener alternatives (Climate Council n.d.). However, due to their greater weight, there is concern that emissions from brake wear, tyre wear and road wear from electric and hybrid cars may exceed exhaust emissions that they negate (Timmers and Achten (2016), Brueckner (2018)).
You have been approached by a major environmental group to provide an unbiased and objective examination of the economics of micro-plastic pollution from tyre wear and tear.
You are required to provide:
1. an overview of issues related to micro-plastic pollution from tyre wear and tear, inclusive of the extent/size of the problem and the potential economic costs borne by both individuals and society.
2. a description of the relevant economic theory to explain the effects of tyre wear and tear on economic efficiency of private car consumption (travel)
3. a critical analysis of
a. an economic policy solution that would result in an economic efficiency outcome
b. a reduction in micro-plastic pollution from wear and tear of tyres as a result of an innovation
You are required to support your economic analysis with appropriate data and economic models (partial equilibrium analysis) which you use to examine how the policy achieves the desired objective – reduction of micro-plastic pollution from car use. A brief summary of the potential economic effects (costs and benefits) of each of the above policies is required. However, it is appreciated that a full analysis of the dynamic effects of these policy solutions is beyond the scope of this work.
You are required to present your response to the environmental organisation in essay format.
It is recommended that you approach the problem set as follows:
The context (Task 1)
In economics we generally start by framing the problem. We also refer to this as setting the context. In this part of your essay (Task 1), you need to articulate what the issue is. This is not simply a case of stating “I think it is a problem because …”. You need to present an informed context which is supported by peer reviewed published research (not the Courier Mail).
In setting the context, you should include data, as appropriate on the extent of the problem (e.g. what is the contribution of tyre wear and tear to micro-plastic pollution) and estimates of economic costs (e.g. this may include estimates of actual dollar costs, or health burden arising from increased risk to health etc.). Data should be from reputable sources. The case that you make in this section provides the basis for economic policy solutions you will present in part 3.
Economic theory (Task 2)
You will need to present the correct theoretical economic model and explain it using appropriate economic terminology (Task 2). The theory needs to relate to the economic cause of the problem. In this case, you are required to present a model that explains the economics of the externality of micro-plastics as a result of car use. That is, you need to explain the effects on economic efficiency. You will need to present a robust diagrammatic exposition of the correct economic theory of externalities, identifying the theoretical market and efficient equilibrium and deadweight loss aligned to the problem you have identified in part 1.
The critical analysis (Task 3)
In Task 3, potential policy solutions are critically analysed from an economic perspective. Your analysis should be framed with reference to the economic theory presented in Task 2. That is, describe an economic policy that would shift the market to the efficient equilibrium?
The key to this part of the essay is to keep it simple. Give an overview of policy, detail how it will work to address the issue under consideration (yes this does mean potentially more diagrams) and give a brief summary of the potential strengths and limitations of that policy approach based on what you find from the research literature. In a policy context, the benefits should be greater than the costs (note this refers to economic cost not financial costs), but this is outside the scope of this essay. It is sufficient that you can demonstrate that in theory it would lead to an efficient outcome.
You have also been asked to consider an innovation that would result in the reduction of micro-plastic pollution from wear and tear of tyres. This is not about your own blue-sky thinking; you are expected to draw on an example from the research literature. Remember innovations come in many forms … it is not all about an engineering solution (though the one you have identified and want to critique may fall under this heading). Once you have identified the innovation, you need to think critically about its potential to address the problem. For example: when will this innovation be available e.g. now or 10 years? what will be its potential impact on the problem (e.g. does a potentially high price mean adoption may be slow)? is this an innovation that is already used in another country? if yes, what are the barriers to using it here? etc. (NB: this is not a prescriptive list of questions that must be answered, nor is it an exhaustive list of questions)
A key feature of economic analysis is that it is objective. Whilst this work has been commissioned by a particular stakeholder, it should be an unbiased and informed critical economic analysis and not a political document. No particular policy solution should be given a greater or lesser weight because you think this may have more sway with the audience you are writing for.
• clearly frame the “problem” by setting the context
• use an appropriate economic theory to show how economists view this problem
• write an unbiased and informed critical economic analysis and not a political document. Do not get drawn into reporting emotive arguments (interesting as they are).
• be academically rigorous, ensuring that your analysis is underpinned by references to peer reviewed academic literature
Your audience’s background knowledge in economics
Assume that your audience has an understanding of economic theory and terminology. Assume that they are regularly exposed to documents drafted by economists and follow contemporary economic analysis in the media. For example, they read The Economist, and take a keen interest in economic articles published by economists for a wider audience in The Conversation (online) and Australian Policy Online.
Researching for your research essay
Your research (or reading) of this literature informs your analysis, arguments, critique, conclusions etc. Therefore, the quality of your research will directly influence the quality of your work. In academia “appropriate literature” means that you should be principally researching scholarly sources. To begin your research, start with the recommended reading provided in this document. This is not an exhaustive list of references. You are also expected to research the literature yourself (refer to the Criterion Reference Assessment (CRA) table at the end of this document).
All sources cited in your essay must be referenced using APA style
If in doubt about how to cite and reference a source, please seek help from the subject librarian.
Examples of scholarly sources include:
• Academic journals
• University working papers/publications
• Government and related departments/organisations reports (e.g. Australian Bureau of Statistics (ABS))
• International economic organisation’s articles and reports (e.g. OECD, United Nations and World Bank)
• Central Bank articles and reports (e.g. Reserve Bank of Australia)
Examples of high-quality sources of relevant data would include ABS, OECD, World Bank, Government reports etc.
A common theme of all of the above published literature is that it is peer reviewed. Peer review is a process that is used to ensure that published work represents the best scholarship currently available (and is also technically correct, not misleading etc.). In contrast, non-peer reviewed literature represents the opinion of the authors with only their guarantee that it is the best work possible.
Reliance on non-scholarly sources as part of your research is to be avoided. Examples of non-scholarly sources include:
• newspaper reports
• magazines articles
• non-peer reviewed articles and reports (be careful of private consultation reports, political papers etc.)
• subject-based dictionaries and/or glossaries (including Wikipedia)
• personal blogs/websites
Maximum word length
Your research essay has a MAXIMUM WORD limit of 1400 words (excluding your reference list – but inclusive of in-text citations).
Your word count for each section will be specific to your individual essay (informed by the weighting in the criteria reference assessment table at the end of this document). Note that your essay should include both an introduction and conclusion (but do not overdo the introduction or conclusion as that means fewer words for the important bits).
You are advised of the following stylistic requirements:
• use font type Arial, font size 10 (minimum)
• line spacing should be single or no greater than1.25
• margins should be set at 2.3cm
• all diagrams should be reproduced either by hand or imbedded in your document using a draw tool. For example, Paint or the draw tool in Word,1 or Excel. If you draw the diagrams by hand you will need to scan them so they can be incorporated in your SafeAssign submission. Cutting and pasting of diagrams from other documents is not acceptable and will be marked as copying (refer to CRA).
• all pages should be numbered (bottom footer right hand side) and include your student number (top header, right hand side)
• include a title page. This should include your name, student number and tutor’s name.
Helpful advice on writing your research essay
Your writing style needs to be clear and efficient (after all you only have 1400 words). Some key advice would be:
• remember structure in writing - introduce, discuss and conclude.
• use short sentences - long sentences lose the reader.
• one argument/idea per paragraph.
This assessment is a formal academic piece of writing. The words and language style you use will convey this. Language used should be appropriate. Things to avoid include informal language, shorthand or colloquialisms. A short check list of advice would include:
• use “do not” instead “don’t”
• use “cannot” instead of “can’t”
• write in the third person – avoid using personal pronouns. For example: “Research shows that ….” rather than “I think that …”.
Descriptions should be quantified and/or relative to a comparable benchmark. For example:
• instead of saying “there was a massive increase in China’s economic growth” you would phrase it as “China’s economic growth, as measured by GDP, increased by X% over the period (include citation of where your evidence came from)”.
• instead of saying “GDP in China was better than everyone else’s” you would phrase it “GDP in China increased by X%. In comparison it fell by X% in USA and X% in the UK (include citation of where your evidence came from).”
Tables and figures in themselves do nothing to enhance an argument unless they are clear AND explained AND interpreted by you for the reader.
When inserting a table or figure into your work it is good practice to give each a number (e.g. Figure 1, Table 1) and title it (the title should describe what the table or figure is presenting) and refer to the table or figure number explicitly in the text.
Place the table or figure as near to the paragraph that you are going to discuss it in (either directly above or below). An example is given below in Figure 1.
If you have hand drawn your tables and figures attach them to the end of your document.
In your reading, you will come across tables and figures that may be useful in explaining or supporting a point that you want to make in your own work. Try to avoid cutting and pasting from articles and the text book. 8
Relevant tables and figures should be adapted to support your work and referenced. Figures (especially those relating to theory) can be redrawn in Paint or Word (using the draw tool). Similarly, tables of data can be created in Excel and imported into Word (or created in Word using the table tool) to reflect the information that is relevant to your analysis.
The magic of economic theory and models: a brief reminder for the panic stricken
When faced with Assessment 2, students are often paralysed with fear by the idea that they have to use economic theory and models to unpick a real world issue. Many students will wonder where the data behind demand and supply curves come from, how you work out equilibrium price and what exactly the model is they should be using.
The following article is just a gentle reminder on exactly economic theory and models are and how we use them to analyse real world issues and policy.
What is economic theory and models and how can we use them?
Economic theory or models allow us to analyse real world issues. The luxury economic theory and economic model’s affords us is that we do not need demand data, supply data, equilibrium prices, plus data on a variety of other variables to determine the likely outcome of a particular issue or impact of a policy.
Economic theory/models are sufficiently explicit about the relationship between the key variables we are examining, allowing us to come to conclusions as to what would happen if we took “decision X”
In BSB113, we have spent a lot of time looking at the theory of supply and demand. Our basic model is constructed in a graph where price is indicated on the y axis and quantity on the x axis (see Figure 1)
Figure 1. Supply and demand model
Figure 1 can be adapted to most market situations we want to examine. For example, suppose we wanted to think about what has been happening in the Australian wheat industry. As a population we have more income to spend on goods and services, but wheat farmers are getting poorer. Let’s use economic theory/models to give us an insight as to why.
We can observe from data that wheat prices have been declining over time (Figure 2) and that wheat yields have been increasing (Figure 3). In a simple supply and demand diagram (such as Figure
1) this would mean examining how supply and demand curves have shifted to result in a new equilibrium with a lower price and higher quantity.
Figure 2. Australian wheat prices 1914-2004
Figure 3. Australian wheat yields 864 -2004
In our economic model (supply and demand diagram), we need to think about what has happened. We need to shift the supply curve out to the left as wheat yields have increased (at every single price). Note how we did not plot a supply curve from the data to shift the curve. We observed what had happened in the data (Figure 2) and then we simply shifted the supply curve to the right in our model (Figure 4). This would result in a new equilibrium with a higher equilibrium quantity of wheat and a lower price. But let’s not forget the demand side. Our data covered a long time series and we know over that period we have more income to spend on good and services. Theory tells us that the demand curve should shift out to the right. But we also know that demand for food, especially essentials like bread (made from wheat), is income inelastic. Demand has increased - the demand curve shifts to the right - but not by much.
Figure 4. Supply and demand model of the Australian wheat industry
As we model these steps in our supply and demand model, we can see that the large fall in wheat prices (which would have impacted on farmers income) is explained by a larger shift in the supply curve to the right (as a result of large increases in productivity gains) and a modest shift of the demand curve to the right (as a result of low income elasticity of demand).
How to use economic theory/models to analysis policy
In the same way that we used economic theory to explain what has been happening in the Australian wheat industry, we can use economic theory to consider what would be the impact of a proposed government policy.
Price floors and ceilings
Governments can impose a price floor or price ceiling in an attempt to support particular groups in the economy (e.g. lower income renters or lower income farmers respectively). We can use economic theory to determine the effect of either a price floor or celling. In particular, who are the winners who are the losers (as measured by gains or loses in producer and/or consumer surplus) and what is the impact on economic efficiency (as measured by deadweight loss). To review how to use an economic model to analyse price floors and ceilings refer to lecture week 4 or chapter 5 of the text book.
Taxes to raise revenue
In a market that is efficient, taxes can be used to raise revenue. However, the consequence of the tax is that a deadweight loss is incurred. The size of the deadweight loss is determined by the relative elasticity of supply and demand curves. To review the effect of a tax in an efficient market refer to lecture week 4 or chapter 5 of the text book).
Taxes to correct for negative externalities
Taxes can also be used to correct for market failures. In the case of a negative externality the government can use a tax to move from an inefficient market equilibrium to an efficient market equilibrium (refer to lecture 7 and chapter 11 of the text book). There are some great examples of taxes being used to correct for negative externalities including smoking, pollution and over consumption of sugar or fatty foods.
The real world is the economist’s playground: there are issues to be analysed, policy solutions to be analysed.
The real world is a messy place and economic theory and models are effectively the clinical laboratory in which we work to unpick and analysis issues and potential policy solutions. Theories and models do not preclude economist from a deep understanding of what the real world issues. Economic theory and models offer a “space” in which analysis is not prohibited because of the seeming complexity of an issue or because lack of data precludes us from precise estimates of key variables such as price elasticities, demand and supply curves, equilibrium prices and quantities.
The readings presented below are not an exhaustive list of references. You are encouraged to also search for appropriate sources to support your critical analysis (refer to the CRA).
Brueckner, M. (2018, April 17). Not so fast: why the electric vehicle revolution will bring problems of its own. The conversation. Retrieved from https://theconversation.com/not-so-fast-why-the-electric-vehicle-revolution-will-bring-problems-of-its-own-94980
Climate Council n.d. Factsheet: Transport Emissions” driving down car pollution in cities. Retrieved from https://www.climatecouncil.org.au/wp-content/uploads/2017/09/FactSheet-Transport.pdf
Dauvergne, P. (2018). Why is the global governance of plastic failing the oceans? Global Environmental Change, 51, 22-31. doi: https://doi.org/10.1016/j.gloenvcha.2018.05.002.
Gerger, S. McKay, D. (208, Jan 17). Ten ‘stealth microplastics’ to avoid if you want to save the oceans. The Conversation. Retrieved from https://theconversation.com/ten-stealth-microplastics-to-avoid-if-you-want-to-save-the-oceans-90063
Kole, P. J., Löhr, A. J., Van Belleghem, F., & Ragas, A. (2017). Wear and Tear of Tyres: A Stealthy Source of Microplastics in the Environment. International journal of environmental research and public health, 14(10), 1265. doi:10.3390/ijerph14101265. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5664766/
Standing Committee on Environment and Communications, Toxic tide: the threat of marine plastic pollution in Australia, Australian Senate, Canberra, 2016. Retrieved from https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Environment_and_Communications/Marine_plastics/Report
Timmers, V. R. J. H., & Achten, P. A. J. (2016). Non-exhaust PM emissions from electric vehicles. Atmospheric Environment, 134, 10-17. doi: https://doi.org/10.1016/j.atmosenv.2016.03.017
UNEP (2014). United Nations Environment Programme Year Book 2014: emerging issues in our global environment. Retrieved from http://wedocs.unep.org/bitstream/handle/20.500.11822/9240/-UNEP%20Year%20Book%202014%3a%20emerging%20issues%20in%20our%20global%20environment%20UNEP_YearBook_2014.pdf?sequence=3&isAllowed=y