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Economic Principles, Models and Policies - Doc

   

Added on  2021-05-31

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Running head: ECONOMIC PRINCIPLES, MODELS AND POLICIESGlobal warming - economic Principles, Models and PoliciesName of the student:Name of the University:Author note
Economic Principles, Models and Policies - Doc_1
ECONOMIC PRINCIPLES, MODELS AND POLICIES1Table of ContentsIntroduction:....................................................................................................................................2The trend of the global warming and its impact on the economy:..................................................2The economic externality of the climate change:............................................................................3Environmental policies to reduce global warming:.........................................................................4Comparative analysis of market-based approach or regulation for Global Warming:....................5Conclusion:......................................................................................................................................5Reference:........................................................................................................................................7
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ECONOMIC PRINCIPLES, MODELS AND POLICIES2Introduction:Global warming is one of the burning issues that has been attracting a lot of attention fordecades. It not only producing externality to the human being, also it is a threat to the wholeliving organism of the planet earth. It has potentials to increase the temperature of the weatherand doing so it can enhance the water level and make the habitable place a shaky and inhabitableground for sustaining life (Burke, Hsiang and Miguel 2015). Under this scenario, it has becomeessential for the researchers to study the global warming from various aspects and determinefacts regarding it in order to control the same and reduce its growth trend for the better future ofthe earth. In his context, this report is aimed to discuss the pattern of the global warming, andthrough analysing the environmental policies, it will determine whether market-based approachor the regulation is the ideal solution for sustaining life in the earth by controlling the globalwarming. The trend of the global warming and its impact on the economy:Global warming has its own set of negative externalities on the environment as well as onthe worldwide economy. Through the rise in the carbon dioxide emission, which is the maincomponent of the greenhouse gases and In addition to this, there is methane, and other gases thatlead to a rise in the global temperature has been affecting the economy differently (Desmet andEsteban 2015). As the jibe of the global warming rises, it reduces the productivity of the farmsand makes the planet earth inhabitable through the reduction of fresh air for breathing (Rezai,Foley and Taylor 2016). In addition to this, the rise in the global warming enhances the land lossthat affects the biodiversity of the vast area. Meanwhile, it can be seen that the sea level is rising at an alarming rate and if the currentpace is continued, then soon a significant portion of Pangea will be under the sea level leading to
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