• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Economics Portfolio

Extracts from this document...

Introduction

Economics Portfolio 1 The article states that the recent UN emissions report shows that the emissions has been reduced by a much lower percentage in 2006 than in 2005 whilst the emission rate has increase by 2.5 % since 2000. This is due to a number of reasons the first of which is the lack of commitment that countries have toward reducing their emissions. This data that is presented is collected from industrialized and developing countries. This shows us that economic hardship could be due to the fact that economic hardship has contributed to the lack of commitment to reduce emissions. However economic hardship is not the only factor contributing to the lack of emissions reduction. ...read more.

Middle

and of course the fact that gases like carbon monoxide can have negative health effects on the lungs. A negative externality is simply an externality that creates more social costs than social benefits. By this we mean that society has to pay more for it (e.g health costs) than the benefits that they receive (faster commute etc). Below is a graph showing negative externalities: The y axis represents price whilst the x-axis represents the quantity of emissions or oil produced. This means that when the quantity of the emissions/oil is increased, the MSC (marginal social costs) becomes larger than the MSB(marginal social benefit) thus created a surplus of cost which becomes the negative externality. ...read more.

Conclusion

" Yvo De Boer is the current Secretary of the United Nations Framework Convention on Climate Change and he stated above that rather than reducing the current economic situation of the country we must creates policies instead. For example, rather than applying protectionist measures against the trade of oil from the developing countries, which will make oil export from the country very difficult and thus reduce amount of capital coming from the oil the UN must create some kind of policy whereby the education system in the country teaches about the negative effects of overusing such heavy gas emitting substances like fossil fuels. The UN could also provide grants or loans to countries in an attempt to allow the country to wean off their dependence on oil by researching alternative sources of energy. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. Macro Economics Notes

    President Obama's 1 trillion fiscal stimulus package, borrowed from the Chinese will lead to a rise in interest rates which will make it more difficult for companies and individuals to borrow money. Economically active population People who are willing and able to work, within the workforce.

  2. economi portfolio

    Monopolistic competition has two basic assumptions. Firstly, the producers haven't much impact on degree of control over price. It means that they have to keep low prices for cars, because the marker is very competitive.

  1. Free essay

    Economics- Portfolio

    These reasons, however, are only some aspects of these developing countries that make it difficult for growth. For example, many countries have large deficits and public debt, high credit growth as well as inflation.

  2. Market Failre Portfolio

    More specifically, this situation would fit under the existence of externalities. An externality occurs when the production or consumption of a good has an effect upon a third party. In this case, smoking cigarettes is harmful and therefore this would be considered as a negative externality.

  1. Economics portfolio- price controls

    It intervenes regularly to prevent large fluctuations in oil prices. OPEC sets a price band with highest possible and lowest possible price. It then intervenes in the market whenever free market forces push the price either too high or too low.

  2. Development portfolio

    Merit goods are when the social benefit is greater than the private benefit and public goods are goods which are non-excludable and non-rivalrous. When a product is non-excludable, that means that one can consume a good without paying the price directly (Ex.

  1. Comentario de Noticia N3

    Existiendo Ceteris Paribus en la econom�a y solo tomando como factor cambiante las expectativas de los demandantes, la demanda disminuir� por lo que se producir� un nuevo equilibrio en el mercado del crudo. La curva de la demanda disminuir� luego de las expectativas pesimistas desde D0 a D1.

  2. 15 Historical Economic Questions on Mercatilism and the Development of European Countries.

    Conversely, the Domestic demand in these nations drops for gold in countries with negative trade balances and results in deflation, which makes prices fall and exports more competitive internationally. This causes the balance of trade to shift in both countries.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work