Oct 28, 2021 Uncategorized

Public Finance assignment at an affordable cost

Public Finance Assignment

The word limit is 1,000 words (with a 10% margin). Your bibliography/reference list does not count toward this limit.

Answer ONE of the following (from 4)

  1. The emission of greenhouse gases is linked to climate change, leading to “one of the most critical, and also most daunting, challenges facing policymakers in the twenty-first century” (Aldy et al., 2010). Explain the reasons for government intervention through climate mitigation policy and describe the types of policy tools available to governments to address climate change. Assess the suitability of such policies, particularly in relation to the uncertainties associated with climate change.

Aldy, J., Krupnick, A., Newell. R., Parry, I. and Pizer, W. 2010. Designing Climate Mitigation Policy, Journal of Economic Literature, 48 (4), 903–934.

  • In a referendum in 2008, voters in Manchester rejected a proposal for a congestion charge (BBC, 2008). Reproduce a model that shows how traffic congestion may generate economic inefficiency with respect to peoples’ journey times. Demonstrate how a congestion charge which brings about

the socially desirable level of road use may vary with peak and off-peak demand, as suggested in the proposal made for Manchester. Assess why the voters of Manchester rejected the proposal.

The BBC, 2008. “Voters reject congestion charge.” http://news.bbc.co.uk/1/hi/england/manchester/7778110.stm [Accessed 28-Jun-2021]

  • The Economist (2021) states “Several economists have argued that the pandemic has shown why the generosity of benefits should be pegged to the state of the economy, with welfare acting as a shock absorber when times are toughest.” Analyse the reasons for government intervention in the market for unemployment insurance and explain the role of moral hazard in the design of policy.

Assess how the statement from The Economist (2021) may affect government policy on unemployment insurance.

The Economist, 2021. “Covid-19 has transformed the welfare state. Which changes will endure?” https://www-economist-com.uoelibrary.idm.oclc.org/briefing/2021/03/06/covid-19-has- transformed-the-welfare-state-which-changes-will-endure [Accessed 28-Jun-2021]

  • The Green Book sets out the UK government’s approach to the determination of “social value” for the appraisal of potential government projects (HM Treasury, 2018). Explain the key features of the cost-benefit analysis of social value with reference to concept of a potential Pareto improvement.

Analyse the different ways a treasury analyst may assess the benefits of a proposal. Assess the recent proposals to update the Green Book as described in HM Treasury (2020).

HM Treasury. 2018. “The Green Book: Central Government Guidance on Appraisal and Evaluation.”

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file

/685903/The_Green_Book.pdf [Accessed 28-Jun-2021]

HM Treasury. 2020. “Green Book Review 2020: Findings and response.”

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/937700/Green_Book_Review_final_report_241120v2.pdf

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