Natural resources and environmental economics UE Past Papers Questions.

How can the Kaldor-Hicks Efficiency be defined?

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Write short notes on the following

1. Parento optimal allocation of resources
2. The fundamental rule of harvesting stock resources
3. Non-market valuation methods
4. Deposit/refund systems and bonding systems as applied to pollution economics
5. Conditional resources and speculative resources

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Imbalance between the availability of essential resources and future demand was a common belief in the late 1900`s and 1970`s and led to a polarised debate. On the one hand , there are scholars who take an optimistic view and on the other hand  there are those who are very pessimistic viewing the stock resources scarcity at best as a major barrier to continued economic development. Discuss.

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1. What are the key characteristics of non-attenuated property rights?
2. Discuss the merits and shortcomings of four property right regimes.

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1. Using graphs show why it does not make sense to reduce pollution if the emissions is less than optimal , and why the society is better off eliminating that unit of emissions if the level of emissions is greater than optimal?
2. Despite their typical inability to equate Marginal Abatement Costs across polluters , command and control policies may still be the most desirable policy instruments. Discuss.

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