Term Paper Econ 201 And 202 Online Purpose: This Assignment ✓ Solved
Term Paper Econ 201 and 202 online Purpose: This assignment
Purpose: This assignment has multiple purposes. It will help you develop important business skills, such as research and independent work, and it will help strengthen your understanding of an economic subject you find particularly interesting.
Subject: Chosen from a list created by you, with input from the instructor. You should come up with several possible subjects in case your favorite is not suitable (usually due to being too broad for a short paper or too little-known for research material to be available).
Length: ~ words (3-4 typed pages).
Sources: At least five reputable sources must be cited, including at least one from a peer-reviewed source. “Reputable” sources means respected media or journal reports, and generally from sources without a material interest in the subject. Not acceptable sources include general websites, blogs, aggregators, or information clearing-houses; encyclopedias; and Wikipedia, Investopedia, About.com, or Yahoo will not suffice as reputable sources. Also, don’t cite a search engine, like EBSCO. Instead, cite articles or book titles.
Any professional citation style is acceptable, but it must be used correctly and consistently. Just a web address, or “N.P., N.D.” are insufficient. Copying from any source without credit will result in an automatic zero on the paper.
Mechanics: The papers will not be graded on mechanics (spelling, grammar, etc.) unless mechanical problems are so persistent as to reduce the paper’s readability. You may wish to show a rough draft of your paper to the excellent Writing Tutoring Center in building 7 before submission.
Credit: The paper is worth 100 points total; papers will be graded on research, use of citations, and clearness of writing.
Plan: Develop a list of 3-5 potential subjects to research; you will communicate with the instructor through email to confirm the suitability of your subject.
Subject criteria: Good subjects for research papers are not too general, like “Outsourcing,” but are also not too specific, like “Corporate Marginal Tax Rates.” Try to come up with several topics you’d be interested in enough to write a simple paper about. You should have at least two potential subjects, in case your first choice isn’t quite right.
Paper For Above Instructions
In the field of economics, there is a broad spectrum of topics that can be explored. This paper aims to discuss a selected economic subject that combines theoretical analysis with real-world applications. After considering multiple themes, this paper focuses on the economics of renewable energy, specifically the impact of governmental policies on its adoption. This issue is relevant, timely, and significant for our economic future.
The shift towards renewable energy is driven by the need to mitigate climate change, reduce dependency on fossil fuels, and create sustainable economic growth. The Paris Agreement (2016) has set ambitious targets for greenhouse gas reductions, pushing nations to rethink their energy policies. Governments around the world are implementing various measures to support renewable energy adoption including subsidies, tax incentives, and regulations.
One of the key topics to consider is the effectiveness of subsidies offered for renewable energy sources like wind and solar. According to the International Renewable Energy Agency (IRENA), the cost of solar photovoltaic (PV) systems has dropped by 89% since 2009, largely due to government subsidies that support development and deployment. However, there is an ongoing debate about whether these subsidies distort market dynamics and whether they are sustainable in the long term (IRENA, 2020).
Furthermore, the impact of tax incentives on renewable energy investments is another significant aspect. The Investment Tax Credit (ITC) in the United States, for example, has been a vital driver for solar power investments. According to the Solar Energy Industries Association (SEIA), the ITC allowed the solar industry to flourish, resulting in a 167% increase in solar capacity from 2016 to 2020 (SEIA, 2020). However, uncertainties regarding the future of the ITC may deter future investments unless clearly defined policies are established.
Regulatory frameworks play a crucial role in the adoption of renewable technologies. Policies such as Renewable Portfolio Standards (RPS) require a certain percentage of energy to be obtained from renewable sources, fostering a market for these energy forms. However, as Great Britain phased out coal power and instituted a RPS, it faced challenges in integrating fluctuating renewable sources into its grid, underlining the complexity of energy transition policies (UK Government, 2021).
Environmental regulations also influence the economics of renewable energy. Stricter emission standards drive industries to seek cleaner energy solutions. Energy companies that fail to comply with regulations face hefty fines, further incentivizing the shift to greener technologies. This regulatory pressure can create market shifts that further accelerate the transition to renewable energy (World Bank, 2021).
Overall, government policies are essential in the transition to renewable energy. They shape market conditions, incentivize investments, and determine the pace at which renewable technologies are adopted. However, it is crucial to find a balance between effective governmental support and market sustainability to encourage long-term growth in the renewable energy sector.
In conclusion, the economics of renewable energy presents a rich field of study that reveals the interplay between government actions and market forces. By examining specific policies, such as subsidies, tax credits, and regulatory frameworks, this paper demonstrates the complexities involved in transitioning to a sustainable energy future. Future research should continue to explore this dynamic landscape to inform effective policy-making that supports both economic growth and environmental sustainability.
References
- International Renewable Energy Agency (IRENA). (2020). Renewable Power Generation Costs in 2019. IRENA.
- Solar Energy Industries Association (SEIA). (2020). Solar Investment Tax Credit (ITC). SEIA.
- UK Government. (2021). Clean Growth Strategy: Leading the Way to a Low Carbon Future. UK Government.
- World Bank. (2021). Global Gas Flaring Reduction Partnership. World Bank.
- Bloomberg New Energy Finance. (2020). New Energy Outlook 2020. Bloomberg.
- International Energy Agency (IEA). (2020). World Energy Outlook 2020. IEA.
- National Renewable Energy Laboratory (NREL). (2019). Renewable Electricity Capacity and Generation. NREL.
- Environmental Protection Agency (EPA). (2020). Greenhouse Gas Inventory Report. EPA.
- McKinsey & Company. (2020). The Future of Renewable Energy. McKinsey & Company.
- OECD. (2019). Renewables and Energy Transition. OECD Publishing.