Economic Growth

Week 6 Guidance

            Just wanted to say congratulations, this is the final week of the course!  This week we will be reviewing chapter twenty and twenty-two.  Your first discussion question is on the costs of economic growth on the environment.  This discussion question summarizes what we have been discussion though out the class especially sustainable development.  Tietenberg and Lewis (2012) state, “Sustainable development refers to a process for providing for the needs of the present generation (particularly those in poverty) without compromising the ability of future generations to meet their own needs” (p. 561).  Think about growing economically can how that affects our environment.  Review how we discussed emissions trading, toxic dumping and how those are part of a business process and those affect the economy.  GDP (Gross Domestic Product) is a measurement used to review economic growth; Tietenberg and Lewis (2012) provide another measurement called Gross National Happiness index used in Bhutan (p. 558), which I found interesting.  This measurement is based on psychological well-being, time used, community vitality, culture, health, education, environment diversity, living standard and governance.  I believe this index tries to incorporate economic growth, environment and overall well being of a culture.  Interesting to see what the result would be for the United States if this was used versus other parts of the world.             Your second discussion question is on environmental impacts on the future, primarily on scarcity of natural resources and if the government can do anything to help the future generations.  Tietenberg and Lewis (2012)  state, “Our examination of the record seems to suggest that while our economic and political systems are far from infallible and have some rather glaring deficiencies, no fatal flaws are apparent” (p. 591).  Also sustainable development again is an important topic.  Remember these as you prepare your responses.             Just a few reminders for your final paper, make sure that you include a short introduction and a conclusion.  The introduction should start off with a sentence that grabs the reader’s attention.  You should include a section that lets the reader know what to expect in the rest of the paper, or the questions you will be addressing.  The last sentence of the introduction is the thesis or purpose of the paper.  The conclusion should begin with a restatement of the purpose or thesis statement and synthesize the main points of your paper in the conclusion.            For your final paper as stated in prior weeks, when you state your ideas or arguments you should follow those up with citations of support from a credible source, and try to avoid websites like Investopedia, or Wikipedia.  Make sure to include the citation (Author, year, page or paragraph number).  If you are beginning to work on your final papers make sure you review the student guide for the requirements such as your paper should be 9 pages long not including the title page and reference pages.  The main question you will be addressing is: What role should the local governments provide with regard to alternative solutions or reduction in development impact fees given the positive externality that is provided by these new developments?  It is highly suggested you use heading to enhance the organization of your paper and that you cover all of the topics.  A highly recommended Outline:

·         Introduction.

·         Compare and contrast the options that the local governments will need to discuss given the lack of resources that are currently available.

·         Evaluation of the environmental impacts that can occur with new developments and review of the legal ramifications that can arise.

·         Presentation of case examples.

                   -   Compare and contrast the different market effects of development impact fees on the market in your paper. ·         Conclusion.              Remember that your initial postings are due on Thursday 5/7, and to respond to your fellow student’s initial postings during the week.  Your assignment is due on day seven, Monday 5/11.  Please send me specific questions on the assignments if you have any issues completing them.  Keep up the good work!

References

Tietenberg, T., & Lewis, L. (2012).  Environmental and natural resource economics (9th ed.).  Upper Saddle River, NJ: Pearson Addison-Wesley. ISBN: 9780131392595