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BUS272 Changing Economies of Asia
The Environment and Economic Growth
Lecture 10
Professor Malcolm Tull
Murdoch University
Supplement Version
(Lee Lao Shi)
Introduction
• The NIEs provide a model of economic development
but do they provide a model of sustainable economic
development? (Refer to lecture 1 supplement notes on
differences between
sustainable growth and development. Sustainable development
includes sustainability of
environment)
• A wide range of environmental problems including• A wide
range of environmental problems including
water and air pollution, loss of forest, wildlife and
biodiversity, generation of toxic wastes and generation
of solid wastes
• In the last 30 years Asia has lost about 50% of its
forest and fish stocks and nearly 33%of its land area
has been degraded
Economics of the environment
• Market of an environmental good
• Market failure
• When the market determined price and output levels of
environmental goods are not
efficient i.e., disparity between MSC and MPC or MSB and
MPB for a market at Q*
level of production
• Externalities (Refer to Lecture 3 Supplement Notes)•
Externalities (Refer to Lecture 3 Supplement Notes)
• An externality is a third party effect of market activity not
recognised by the buyers
and sellers participating in the market activity
• Can be positive or negative e.g., Greenhouse gases represent
an over use of a
common property resource (the atmosphere)
• Externalities and property rights
•
Solution
s
• Public education
• Regulations
• Economic incentives
Economics of the environment (Supplement Notes)
Definition of MPC (Marginal Private Cost)
The marginal private cost is the cost to the firm of producing an
additional unit of
given good or service. There may also be external costs from
production and
these are added to the private cost to give the total social cost.
Definition of MPB (Marginal Private Benefit)
The additional satisfaction or utility that a person receives from
consuming an
additional unit of a good or service. A person's marginal benefit
is the
maximum amount they are willing to pay to consume that
additional unit of amaximum amount they are willing to pay to
consume that additional unit of a
good or service. In a normal situation, the marginal benefit will
decrease as
consumption increases.
For example, assume there is a consumer wishing to purchase an
additional
burger. If this consumer is willing to pay $10 for that additional
burger, then
the marginal benefit of consuming that burger is $10. The more
burgers the
consumer has, the less he or she will want to pay for the next
one. This is
because the benefit decreases as the quantity consumed
increases.
It is important to note that even though the consumer is willing
to pay $10
for the burger, this will not necessarily be the burger's price;
this is
determined by market forces. The difference between the market
price and
the price the consumer is willing to pay is called consumer
surplus.
Definition of MSC (Marginal Social Cost):
The total cost to society as a whole for producing one further
unit, or
taking one further action, in an economy. This total cost of
producing one
extra unit of something is not simply the direct cost borne by
the
producer, but also must include the costs to the external
environment
and other stakeholders.
Calculated as:
Economics of the environment (Supplement Notes)
Calculated as:
Where:
MSC = Marginal Social Cost
MPC = Marginal Private Cost
MEC = Marginal External Cost (Positive)
MSC = MPC + MEC
For example, take the case of a coal plant polluting a local
river. If the coal
plant's marginal social costs are more than its marginal private
costs, the
MEC must be positive (and therefore resulting in a negative
externality,
or effect on the environment.) The cost of the produced energy
is more
than just the rate charged by the company, as society must bear
the
costs of a polluted river and the effects of that action.
Economics of the environment (Supplement Notes)
While marginal social cost represents a powerful economic
principle, it
can rarely be expressed in tangible dollars. We know that there
are costs
incurred by certain acts of production, although their far-
reaching effects
make them difficult to quantify. The theory helps legislators
and
economists come up with a framework to "incentivize"
companies to
reduce the marginal social costs of their actions.
Definition of MSB (Marginal Social Benefit):
Marginal social benefit is equal to the private marginal benefit a
good
provides plus any external benefits it creates. In other words,
MSB gives
the total marginal benefit of the good to society as a whole. In
mathematical notation:
Economics of the environment (Supplement Notes)
MSB = MPB + MEB (where MEB is marginal externalities
benefit)
It is used for evaluating efficiency in the presence of positive
externalites.
As an example, suppose a company is thinking about buying and
redeveloping part of an old abandoned industrial site near the
center of a
city. Such areas are called "brownfields" and are a big problem
for many
cities because they are unsightly and may be polluted. Thus by
re-
developing it, it adds as scenic view and reduces pollution level
to the
city dwellers – a MSB here.
Costs/Benefits
$
S, MC
The Market of an Environmental Good
Q (units of resource)
D, MB
Q*
Market Failure
An Example of Market Failure
Costs/Benefits
$
S, (MPC)
S, (MSC)
Q (units of resource)
D, MB
Q*Q1
9
Sustainable economic development
• Environmental degradation refers to damage that reduces
the sustainability of economic growth and human welfare
• If development is to be sustainable greater attention has to
be given to the environment. Rising real income will remain a
major goal but there is a need to understand the
environmental trade offsenvironmental trade offs
• Definition: A development path is sustainable if and only if
the stock of overall capital assets remains constant or rises
over time
• Capital Assets include:
• manufacturing machines
• human capital
• environmental capital
• Living within ones means is not decreasing overall capital
assets
Supplement Notes
Environmental Degradation is the deterioration in
environmental quality from ambient concentrations of
pollutants and other activities and processes such as
improper land use and natural disasters.
In most instances the definition is derived from statistical
standards developed by international organisations such as
the IMF, OECD, Eurostat, ILO. Where possible, thethe IMF,
OECD, Eurostat, ILO. Where possible, the
definition has been quoted word for word from the source.
-- Source: OECD
Nominal vs Real Income
Nominal income is the term used to describe an individual's
wages based in a particular currency without factoring in
inflationary or deflationary effects on the unit of measure.
Real income is the term used to describe an individual's
wages based on their actual purchasing power (i.e., in
relation to inflation effect).
Relax: Watch a video now!!!
• The world greatest industrial disaster.
• Bhopal Gas Tragedy, India.
• December 1984
• MNC involved: Union Carbide
• Effect: 5,000 to 20,000 dead, 500,000 permanently
affected in health condition, many turned blinded
• Justice: yet to be settled in court appeal
Lecture 10 - Bhopal Disaster.mp4
Sustainable economic development
• Measuring sustainable income requires adjustment of
national accounts
NET NATIONAL PRODUCT= GNP-Dm- Dn
Dm=depreciation on manufactured capital
Dn=depreciation on natural (environmental) capital
Dn is made up in 2 ways:Dn is made up in 2 ways:
• losses of unrecorded GNP eg wildlife species
• losses of GNP that would otherwise be recorded eg pollution
• This approach can be expanded as follows
R= restorative expenditure
A= aversive expenditure
N= overstatement due to non-optimal use of resources
So Sustainable National Income = GNP-(R+A+N)-
(Dm+Dn)
Sustainable economic development
Sustainable economic development
Source: Ida Kubiszewski,
http://theconversation.com/beyond-gdp-are-
there-better-ways-to-measure-well-being-
33414
The impact of economic growth on the environment
and social welfare
• The figure illustrates the hypothetical relationship
between growth and the environmentbetween growth and the
environment
• Beyond point T2 economic productivity may fall
The relationship between growth and the
environment
• There are at least three possibilities:
• Increased output may lead to improvements in
environmental quality
• There may be an inverted U shaped relationship
between growth and the environment
(Environmental Kuznet’s Curve)
• Some types of pollutants may continue to increase
along with the growth of output
Environmental Kuznet’s Curve
(Supplement Notes)
The Environmental Kuznets curve is a hypothesised
relationship between environmental quality and
economic development: various indicators of
environmental degradation tend to get worse as
modern economic growth occurs until average income
reaches a certain point over the course of
Environmental Kuznet’s Curve
(Supplement Notes)
reaches a certain point over the course of
development. Although the subject of continuing
debate, some evidence supports the claim that
environmental health indicators, such as water and air
pollution, show the inverted U-shaped curve. It has
been argued that this trend occurs in the level of many
of the environmental pollutants, such as sulfur dioxide,
nitrogen oxide, lead, DDT, chlorofluorocarbons,
sewage, and other chemicals previously released
directly into the air or water.
Growth and the environment
• Structural change can generate environmental gratis
effects (i..e, the environment becomes beneficial to us, usually
cost-free or positive
externalities then, thru its improvement by deliberate structural
change.)
• ‘Environmental dumping’
• Advantages of backwardness- But why have
developing countries not benefited from the
experience of developed countries?
• The environment is a normal good, ie., it has a
positive income elasticity. Thus as incomes rise
people demand improvements in environmental
quality
ENVIRONMENTAL EFFICIENCY (Supplement Notes)
Macro-economy – structural change
Micro-economy – innovation
-of-pipe’ to ‘up-stream’ solutions
Environmental Dumping
Environmental dumping is the practice of transfrontier shipment
of waste
(household waste, industrial/nuclear waste, etc.) from one
country to another.
The goal is to take the waste to a country that has less strict
environmental
laws, or environmental laws that are not strictly enforced. The
economic
benefit of this practice is cheap disposal or recycling of waste
without the
economic regulations of the original country.
Definition of 'Normal Good'
An economic term used to describe the quantity demanded for a
particular
good or service as a result of a change in the given level of
income. A normal
good is one that experiences an increase in demand as the real
income of an
individual or economy increases.
Another way to define a normal good is by calculating its
income elasticity of
demand. If this coefficient is positive and lower than 1, the
good is considered
to be a normal good.
In most circumstances, as the income of an economy increases,
there is an
increase in the demand for goods and services. One example
might be luxury
cars; as the income level increases, more people buy or demand
these cars.
However, when income rises, demand for some goods and
services may be
negatively affected. For example, as the income level increases,
fewer people
might use the public transportation system. In this case, the bus
or train would
be considered an inferior good or service because its demand
has gone down.
In this topic here, we consider Environment is a normal good
here. When an
individual or economy grows in real income, the demand of
Environment as
good (namely in good quality condition) grows correspondently.
Impact of the Asian crisis 1997
• In the short run, sharp falls in incomes and output reduced
pollution
• A prolonged recession places increased pressure on natural
resources e.g., forests, fish stocks and minerals as people try
to maintain consumption or pay debtsto maintain consumption
or pay debts
• Public expenditure on environmental management was
reduced
• The financial and environmental crises had similar roots i.e.,
rapid growth without adequate safeguards and controls
• Collusion between government and private sector has
prevented adequate regulation and management e.g., forests
in Indonesia
International cooperation
• A role for international agencies such as the OECD,
ASEAN, APEC
• Kyoto Protocol 1997
• Countries that ratified this protocol agreed to reduce
their emissions of greenhouse gases, or engage intheir emissions
of greenhouse gases, or engage in
emissions trading if they maintained or increase
emissions of these gases
• 2008-2012 first commitment period
• Doha Amendment 2013- 20
• 37 countries signed up for second commitment
period including Australia and EU
Stern Review on the economics of
climate change (2006)
• Greenhouse gas emissions are an externality, “the
greatest market failure the world has seen” (Stern,
2006)
• Risks of severe climate change increases as global
temperatures rise
• Global emissions vary by sector of the economy but
all need attention
• Review estimated that the cost of climate change is
equivalent to 5 per cent of global GDP per year, but
it could rise to as high as 20 per cent
• The cost of reducing greenhouse gas emissions is
about 1 per cent of global GDP per year
Greenhouse Gases include methane, chlorofluorocarbons and
carbon
dioxide. These gases act as a shield that traps heat in the earth’s
atmosphere. The resulting greenhouse gas effect is thought to
contribute to
global warming.
Greenhouse Effect: The retention of part of the Sun's energy in
the Earth's
atmosphere in the form of heat as a result of the presence of
greenhouse
gases. Although some of this radiation escapes into space, much
of it is
absorbed by greenhouse gases in the lower atmosphere, which in
turn re-
radiate a portion back to the Earth's surface. the intensification
of its effect
Supplement Notes
radiate a portion back to the Earth's surface. the intensification
of its effect
due to increased levels of greenhouse gases in the atmosphere is
considered to be the main contributing factor to global warming
.
Global Warming: an increase in the earth's atmospheric and
oceanic
temperatures widely predicted to occur due to an increase in the
greenhouse effect resulting especially from pollution. The
present warming
is generally attributed to an increase in the greenhouse effect,
brought
about by increased levels of greenhouse gases, largely due to
the effects
of human industry and agriculture. Expected long-term effects
of current
global warming are rising sea levels, flooding, melting of polar
ice caps and
glaciers, fluctuations in temperature and precipitation, more
frequent and
stronger El Niños and La Niñas, drought, heat waves, and forest
fires.
Stern Review on the economics of
climate change (2006)
• According to the Review the policies needed
include:
• Carbon tax• Carbon tax
• Improved technology
• Deal with market failure
• Multilateralism
• Increase overseas aid to 0.7 per cent of GDP by
2015
A Carbon Tax is usually defined as a tax based on
greenhouse gas emissions (GHG) generated from
burning fuels.
It puts a price on each tonne of GHG emitted, sending
a price signal that will, over time, elicit a powerful
market response across the entire economy, resulting
in reduced emissions. It has the advantage of providing
an incentive without favouring any one way of reducingan
incentive without favouring any one way of reducing
emissions over another.
By reducing fuel consumption, increasing fuel
efficiency, using cleaner fuels and adopting new
technology, businesses and individuals can reduce the
amount they pay in carbon tax, or even offset it
altogether.
Climate change
• In an interview at the World Economic Forum in Davos, Stern
said:
"Looking back, I underestimated the risks. The planet and the
atmosphere
seem to be absorbing less carbon than we expected, and
emissions are
rising pretty strongly. Some of the effects are coming through
morerising pretty strongly. Some of the effects are coming
through more
quickly than we thought then” (The Observer, Saturday 26
January
2013)
• Also at Davos, Jim Yong Kim, president of the World Bank,
warned about the risk of conflicts over natural resources if
the forecast of a 4 degree increase above the historical
average proves accurate:
"There will be water and food fights everywhere"
A case study of Taiwan
• In 1945 Taiwan was a backward agricultural economy,
suffering from severe war damage
• By the 1990s Taiwan was a developed economy
characterised by a low level of foreign debt, inflation and
unemployment, a substantial trade surplus and a
population enjoying rapidly rising living standardspopulation
enjoying rapidly rising living standards
• Along with other Newly Industrialising Economies,
Taiwan has succeeded in mastering modern technology
but it has been less successful in managing the
environmental risks associated with economic growth
• In many respects, Taiwan has replicated the
environmental history of Asia's first industrial nation,
Japan (See M. Tull and A. R. Krishnan, ‘Resource use and
environmental management in
Japan 1890-1990’, Australian Economic History Review, Vol,
34, No. 2 (1994) pp.3-23).
A case study of Taiwan
• The Portuguese called Taiwan Formosa, or `Beautiful Island',
but much of
that beauty has disappeared in the interests of economic
development
• Taiwan is a densely populated island with few natural
resources
• Almost all of Taiwan's rivers are polluted by the time they
reach the sea
• Its farmers are some of the world's heaviest users of fertilisers
and
pesticides and this has led to contamination of water
sourcespesticides and this has led to contamination of water
sources
• Less than ten per cent of human waste receives primary
sewage treatment;
most raw sewage is simply discharged straight into rivers or the
sea
• The lack of adequate treatment of human waste has
contributed to the
spread of hepatitis and other water-borne diseases
• Emissions from vehicles are high and air pollution is a serious
problem in
the major cities
A case study of Taiwan
• A major turning point occurred in the late 1980s
• The removal of martial law in 1987 and the move
towards democracy made it possible for Taiwanese
citizens to actively oppose developments which
threatened the environmentthreatened the environment
• “At first, economic development covered only our ankles,
and we wanted more. Now, it is up to our waists, and
many people feel they have enough. What we fear most is
that we' ll find ourselves up to our necks in development,
and then it will be too late.”
• Hs_ Han-ch'ing, a teacher at a school in Lukang, Taiwan, 1988
(cited in Reardon-Anderson 1992,
p.13).
A case study of Taiwan
• Taiwan 2000, a detailed report on Taiwan's environmental
situation published in 1989, concluded that the `growth at all
costs strategy' had led to serious damage to the environment
and threatened to turn Taiwan into `a sort of poisonous
garbage dump' (The Steering Committee 1989, pp. 15-
23)garbage dump' (The Steering Committee 1989, pp. 15-23)
• The government publicly conceded that `Taiwan has paid a
heavy price for its economic miracle' (ROC Yearbook, 1993,
p.249)
A case study of Taiwan
• The government established an Environmental Protection
Agency in 1987 and has implemented numerous initiatives to
improve the environment
• ‘Public Policies Go Green’- for details see Yearbook 2012
http://www.ey.gov.tw/en/Content_List.aspx?n=5715464F025htt
p://www.ey.gov.tw/en/Content_List.aspx?n=5715464F025
572FF
• Relationship with China- the re-unification issue
Summary and conclusions
• Economic growth in many NIEs is not
environmentally sustainable
• Increasing pressure on the global environment
eg., the Greenhouse effect, means that a ‘groweg., the
Greenhouse effect, means that a ‘grow
now, clean up later’ approach to the environment
is no longer possible
• Challenge of climate change
• International cooperation is vital if solutions are
to be found
Key Ideas for Essay Writing - BUS 272
Below are meant for general guideline to write the assignments
(individual essays), you may take the full liberty to approach
writing the assignment in otherwise manner and in your own
preferred way. More importance is to show your understanding
of the topic under discussion and your critical thinking that
make your presentation a work of substance.
Do take note that materials from your powerpoint notes even
those at supplement version are simply not good enough to write
the assignment. Do conduct some other study and basic research
here. Look thru your BUS 272 Unit Guide provided by Murdoch
for further information, format, other requirements, submission
and proper approaches here, especially that found in page 12 to
14 there.
Further, you should write your assignment in line with the
marking scheme (mark sheet) that attached together with this
file here (see below). In short, those areas and aspects will gain
some marks as found in mark sheet, you must produce them in
your writing.
Your further reading and materials should at least include those
"Essential Readings" list stated at your Unit Guide and possibly
even some "Recommended Reading" list there. Those materials
are accessible online at your Murdoch site. You may also out of
your own initiative use other materials apart from those
mentioned above such as newspapers, magazines, journals and
articles that are recognised at academic level. And other
official and unofficial resources. Unofficial resources (usually
from Internet) may help you to gain some basic understanding
of some important concepts and ideas, but NOT to be quoted in
your references. Sources like wikipedia, investopedia, eMBA,
Tutor2u, and alike are NOTto be quoted in your references.
General Format:
-- At least 1700-2000 words
-- Cover page: (Stu name, Stu ID, class code, Topic Title
presented, Lecture Name: Lee Lao Shi)
-- Content Pages (Page no for each sub-section)
-- Introduction
-- Section 1
-- Section 2 and so on
-- Conclusion
-- Appendices (like graphs, charts, statistics and references) --
not included in word count.
References, chicago style citation – at least 7 to 10 references
Question
“If the leading Asian economies continue to achieve high rates
of economic growth, the state of the environment will
eventually improve.” Discuss.
(Note: this topic will be covered at lecture 10, same time of
your submission of assignment in week 10!!!
You are advised to do your own research and read thru the
attached supplement powerpoint file on Topic 10
--- This is rather a general and broad scope essay topic to work
on. Thus there may be quite a few alternatives to present your
discussion and arguments.
Islam, I. and Chowdhury, A., 'Managing the environment in
rapidly industrialising economies', in Islam and Chowdhury,
Asia-Pacific Economies, (London, 1997).
Dixon, J. A., 'Environment and Economic Growth', ASEAN
Economic Bulletin, vol., 7, no.2, 1990.
Seda, M., 'Global environmental concerns and priorities.
Implications for ASEAN' in Seda, M., Environmental
Management in ASEAN, Institute of South East Asian Studies,
(Singapore,1993), pp. 1-54.
-- Main Content:
--
Definition and discuss on key aspects of Environmental issues
and problems such as Climate
Change and others.
--
Introduce some technical analysis such as Environmental
Kuznet Curve
--
Illustrate on some specific countries such as Japan, China and
other East Asia high growth
countries on their experience of growth and also environmental
issues faced.
--
Outline some possible measures being taken by these countries
--
State your position and argue if you agree on the above
statement that "the state of
environment will eventually improve".
--
Conclusions
--
Appendices
There is large and growing literature on this topic. Students
should not face difficulty to access some relevant materials
here.
The above outlines intend as guide to narrow your scope and
aspects to cover in your writing. DO NOT use the exact
sentences of these outlines here as your essay headings and sub-
headings. Headings and Sub-headings should be short and
precise.
Students should have started by reading the lecture slides and
references for Topic 10 and other "essential and recommended
readings" listed at Unit Guide in topic 10.
Other official and unofficial sources can be obtained at MU
LMS, library or internet. Check on some sources on some key
words such as pollution, climate change and alike. Unofficial
resources (like internet) may help you to gain some basic
understanding of some important concepts and ideas, but NOT
to be quoted in your references.
Kaplan BUS 272 Module: Individual Essay Paper Mark Sheet
Student ID
Student Names
Criteria
Allotted
Marks
Actual
Marks
Remarks
1
Introduction, Overview and Conclusion
10.0
2
Application 0f Concepts, Theories and Basic Principles
30.0
3
Critical Thinking, Reasoning & Analysis, Structural and
Systematic Approach
30.0
4
Data, Information Gathering, Tables, Graphs and /or Statistics
20.0
5
Overall Format, Presentation, Referencing and Appendices
10.0
Total
100.0
Overall Comments & Remarks
_____________________________________________________
__________________
_____________________________________________________
__________________
_____________________________________________________
__________________
_____________________________________________________
__________________
_____________________________________________________
__________________
_____________________________________________________
__________________
_____________________________________________________
__________________
General Essay Marking Guidelines (As proposed by U.C., Prof
M Tull)
Bad Fail (less than 40%)
· The essay is incoherent. There is little or no evidence that
much time or effort has been put into its preparation. It
contains many examples of careless writing, punctuation,
spelling, etc.
· Footnoting, general referencing and other aspects of
presentation are very inadequate and contain many examples of
careless errors.
· It relies exclusively on a very narrow range of easily
accessible sources such as lecture handouts or basic
textbooks/reading bricks, and shows no ability or attempt to use
them for any purpose other than to recall a specific fact or
concept, or to paraphrase their content.
· It shows significant lack of knowledge of the basic ideas or
texts.
Marginal Fail (40 – 49%)
· The essay contains notable weaknesses in many aspects of
presentation and writing skills.
· The essay fails to examine the major ideas and texts known to
be directly related to the question ('known to be directly related
to the question' means that the ideas and texts have been
discussed in lectures and tutorials, and/or have been included as
recommended texts in reading lists prepared for the essay
topic).
· It contains significant misunderstanding of the basic ideas or
texts.
Pass (50-59%)
· The essay has reached a satisfactory standard of written
presentation. However, it still contains evidence of insufficient
attention to the details of reading/writing processes.
Referencing remains inadequate in quantity and method. Non-
verbal forms of representation such as graphs, tables etc., if
used, have limited relevance to the argument or are not well
thought out or presented.
· The arguments are basically sound, but contain some
structural problems. For example, they may lack evidence of
clear relationship between the parts of the argument, or of
logical support for the argument's final conclusions.
· The writer is able to use the main texts and concepts to answer
the question set, but generally confines the answer to those
texts.
· The essay displays a good basic knowledge of specific facts
and general concepts relevant to answering the question set.
· The essay shows limited evidence of having related ideas in
the basic texts to other material, or of seeing some of the
implications and short-comings of those ideas.
Credit (60-69%)
· The essay has reached a good standard of writing and
presentation, though it may demonstrate a need for further
instruction in the basic techniques of writing and of non-verbal
forms of representation (graphs, tables, etc.)
· References are sufficient in quantity and quality, and are
presented in a consistent and correct form.
· The writer has used the major texts and ideas listed or referred
to in classes and reading lists, and shows a good understanding
of their content and relevance to answering the question set.
The essay may also contain evidence of having searched for
additional material to supplement the reading lists, but may
demonstrate the writer's inability to use the material in a
relevant way.
· There is evidence that the writer can distinguish between
arguments presented in the various texts.
· There should be some evidence of the writer attempting to
apply relevant principles, ideas and theories learned in
economics to discriminate between arguments presented in
different texts.
Distinction (70-79%)
· The essay contains all the virtues and strengths listed above
with few or none of their shortcomings. In addition:
· The written expression is clear and simple, and other forms of
non-verbal representation such as graphs, tables, etc. are
relevant and well prepared.
· There is a sound, logical structure of argument throughout the
essay.
· The essay contains evidence of more extensive reading, and of
the ability to discriminate between the ideas, the quality of
argument and the evidence used by writers of different texts.
· There will be attempts to apply relevant principles of
economics with a significant level of success.
· It should show good application of skills learned in lectures
and tutorials. In particular there should be evidence of critical
evaluation of arguments used by various writers, and of the
ability to break down arguments to their constituent parts for
the purpose of critical assessment (analytical ability), and to
establish clear conclusions. The essay may show some
willingness or ability to rearrange elements to constitute
structures or perceptions not clearly there before (synthesis).
High Distinction (80% or more)
· The essay contains all the strengths of a good distinction essay
but in addition:
· It shows all the structural and technical elements of good
writing.
· It contains clear evidence of extensive reading, and of the
ability to integrate it into the argument.
· It is more markedly characterised than distinction essays by
evidence of higher quality analysis, and imaginative and
logically supported synthesis.
· It shows ability to make judgements about the value of
arguments and evidence, and to make appraisals that satisfy
criteria determined by the lecturer or others.
· At the highest level of achievement, but only after taking
account of the stage reached in the student's academic career,
the essay will demonstrate imagination, and flair, based on
proficiency in all the learning objectives for the subject. The
work is considered to be exciting, surprising, challenging or
erudite.
2

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  • 1. BUS272 Changing Economies of Asia The Environment and Economic Growth Lecture 10 Professor Malcolm Tull Murdoch University Supplement Version (Lee Lao Shi) Introduction • The NIEs provide a model of economic development but do they provide a model of sustainable economic development? (Refer to lecture 1 supplement notes on differences between sustainable growth and development. Sustainable development includes sustainability of environment) • A wide range of environmental problems including• A wide range of environmental problems including water and air pollution, loss of forest, wildlife and biodiversity, generation of toxic wastes and generation of solid wastes
  • 2. • In the last 30 years Asia has lost about 50% of its forest and fish stocks and nearly 33%of its land area has been degraded Economics of the environment • Market of an environmental good • Market failure • When the market determined price and output levels of environmental goods are not efficient i.e., disparity between MSC and MPC or MSB and MPB for a market at Q* level of production • Externalities (Refer to Lecture 3 Supplement Notes)• Externalities (Refer to Lecture 3 Supplement Notes) • An externality is a third party effect of market activity not recognised by the buyers and sellers participating in the market activity • Can be positive or negative e.g., Greenhouse gases represent an over use of a common property resource (the atmosphere) • Externalities and property rights •
  • 3. Solution s • Public education • Regulations • Economic incentives Economics of the environment (Supplement Notes) Definition of MPC (Marginal Private Cost) The marginal private cost is the cost to the firm of producing an additional unit of given good or service. There may also be external costs from production and these are added to the private cost to give the total social cost. Definition of MPB (Marginal Private Benefit) The additional satisfaction or utility that a person receives from
  • 4. consuming an additional unit of a good or service. A person's marginal benefit is the maximum amount they are willing to pay to consume that additional unit of amaximum amount they are willing to pay to consume that additional unit of a good or service. In a normal situation, the marginal benefit will decrease as consumption increases. For example, assume there is a consumer wishing to purchase an additional burger. If this consumer is willing to pay $10 for that additional burger, then the marginal benefit of consuming that burger is $10. The more burgers the consumer has, the less he or she will want to pay for the next one. This is because the benefit decreases as the quantity consumed increases. It is important to note that even though the consumer is willing to pay $10 for the burger, this will not necessarily be the burger's price; this is
  • 5. determined by market forces. The difference between the market price and the price the consumer is willing to pay is called consumer surplus. Definition of MSC (Marginal Social Cost): The total cost to society as a whole for producing one further unit, or taking one further action, in an economy. This total cost of producing one extra unit of something is not simply the direct cost borne by the producer, but also must include the costs to the external environment and other stakeholders. Calculated as: Economics of the environment (Supplement Notes) Calculated as:
  • 6. Where: MSC = Marginal Social Cost MPC = Marginal Private Cost MEC = Marginal External Cost (Positive) MSC = MPC + MEC For example, take the case of a coal plant polluting a local river. If the coal plant's marginal social costs are more than its marginal private costs, the MEC must be positive (and therefore resulting in a negative externality, or effect on the environment.) The cost of the produced energy is more than just the rate charged by the company, as society must bear the costs of a polluted river and the effects of that action. Economics of the environment (Supplement Notes) While marginal social cost represents a powerful economic principle, it
  • 7. can rarely be expressed in tangible dollars. We know that there are costs incurred by certain acts of production, although their far- reaching effects make them difficult to quantify. The theory helps legislators and economists come up with a framework to "incentivize" companies to reduce the marginal social costs of their actions. Definition of MSB (Marginal Social Benefit): Marginal social benefit is equal to the private marginal benefit a good provides plus any external benefits it creates. In other words, MSB gives the total marginal benefit of the good to society as a whole. In mathematical notation: Economics of the environment (Supplement Notes) MSB = MPB + MEB (where MEB is marginal externalities benefit)
  • 8. It is used for evaluating efficiency in the presence of positive externalites. As an example, suppose a company is thinking about buying and redeveloping part of an old abandoned industrial site near the center of a city. Such areas are called "brownfields" and are a big problem for many cities because they are unsightly and may be polluted. Thus by re- developing it, it adds as scenic view and reduces pollution level to the city dwellers – a MSB here. Costs/Benefits $ S, MC The Market of an Environmental Good Q (units of resource)
  • 9. D, MB Q* Market Failure An Example of Market Failure Costs/Benefits $ S, (MPC) S, (MSC) Q (units of resource) D, MB Q*Q1 9
  • 10. Sustainable economic development • Environmental degradation refers to damage that reduces the sustainability of economic growth and human welfare • If development is to be sustainable greater attention has to be given to the environment. Rising real income will remain a major goal but there is a need to understand the environmental trade offsenvironmental trade offs • Definition: A development path is sustainable if and only if the stock of overall capital assets remains constant or rises over time • Capital Assets include: • manufacturing machines • human capital • environmental capital
  • 11. • Living within ones means is not decreasing overall capital assets Supplement Notes Environmental Degradation is the deterioration in environmental quality from ambient concentrations of pollutants and other activities and processes such as improper land use and natural disasters. In most instances the definition is derived from statistical standards developed by international organisations such as the IMF, OECD, Eurostat, ILO. Where possible, thethe IMF, OECD, Eurostat, ILO. Where possible, the definition has been quoted word for word from the source. -- Source: OECD Nominal vs Real Income Nominal income is the term used to describe an individual's wages based in a particular currency without factoring in inflationary or deflationary effects on the unit of measure.
  • 12. Real income is the term used to describe an individual's wages based on their actual purchasing power (i.e., in relation to inflation effect). Relax: Watch a video now!!! • The world greatest industrial disaster. • Bhopal Gas Tragedy, India. • December 1984 • MNC involved: Union Carbide • Effect: 5,000 to 20,000 dead, 500,000 permanently affected in health condition, many turned blinded • Justice: yet to be settled in court appeal Lecture 10 - Bhopal Disaster.mp4
  • 13. Sustainable economic development • Measuring sustainable income requires adjustment of national accounts NET NATIONAL PRODUCT= GNP-Dm- Dn Dm=depreciation on manufactured capital Dn=depreciation on natural (environmental) capital Dn is made up in 2 ways:Dn is made up in 2 ways: • losses of unrecorded GNP eg wildlife species • losses of GNP that would otherwise be recorded eg pollution • This approach can be expanded as follows R= restorative expenditure A= aversive expenditure N= overstatement due to non-optimal use of resources So Sustainable National Income = GNP-(R+A+N)-
  • 14. (Dm+Dn) Sustainable economic development Sustainable economic development Source: Ida Kubiszewski, http://theconversation.com/beyond-gdp-are- there-better-ways-to-measure-well-being- 33414 The impact of economic growth on the environment and social welfare • The figure illustrates the hypothetical relationship between growth and the environmentbetween growth and the environment
  • 15. • Beyond point T2 economic productivity may fall The relationship between growth and the environment • There are at least three possibilities: • Increased output may lead to improvements in environmental quality • There may be an inverted U shaped relationship between growth and the environment (Environmental Kuznet’s Curve) • Some types of pollutants may continue to increase along with the growth of output Environmental Kuznet’s Curve
  • 16. (Supplement Notes) The Environmental Kuznets curve is a hypothesised relationship between environmental quality and economic development: various indicators of environmental degradation tend to get worse as modern economic growth occurs until average income reaches a certain point over the course of Environmental Kuznet’s Curve (Supplement Notes) reaches a certain point over the course of development. Although the subject of continuing debate, some evidence supports the claim that environmental health indicators, such as water and air pollution, show the inverted U-shaped curve. It has been argued that this trend occurs in the level of many of the environmental pollutants, such as sulfur dioxide, nitrogen oxide, lead, DDT, chlorofluorocarbons, sewage, and other chemicals previously released directly into the air or water.
  • 17. Growth and the environment • Structural change can generate environmental gratis effects (i..e, the environment becomes beneficial to us, usually cost-free or positive externalities then, thru its improvement by deliberate structural change.) • ‘Environmental dumping’ • Advantages of backwardness- But why have developing countries not benefited from the experience of developed countries? • The environment is a normal good, ie., it has a positive income elasticity. Thus as incomes rise people demand improvements in environmental quality ENVIRONMENTAL EFFICIENCY (Supplement Notes)
  • 18. Macro-economy – structural change Micro-economy – innovation -of-pipe’ to ‘up-stream’ solutions Environmental Dumping Environmental dumping is the practice of transfrontier shipment of waste (household waste, industrial/nuclear waste, etc.) from one country to another. The goal is to take the waste to a country that has less strict environmental laws, or environmental laws that are not strictly enforced. The economic benefit of this practice is cheap disposal or recycling of waste without the economic regulations of the original country. Definition of 'Normal Good'
  • 19. An economic term used to describe the quantity demanded for a particular good or service as a result of a change in the given level of income. A normal good is one that experiences an increase in demand as the real income of an individual or economy increases. Another way to define a normal good is by calculating its income elasticity of demand. If this coefficient is positive and lower than 1, the good is considered to be a normal good. In most circumstances, as the income of an economy increases, there is an increase in the demand for goods and services. One example might be luxury cars; as the income level increases, more people buy or demand these cars. However, when income rises, demand for some goods and services may be negatively affected. For example, as the income level increases,
  • 20. fewer people might use the public transportation system. In this case, the bus or train would be considered an inferior good or service because its demand has gone down. In this topic here, we consider Environment is a normal good here. When an individual or economy grows in real income, the demand of Environment as good (namely in good quality condition) grows correspondently. Impact of the Asian crisis 1997 • In the short run, sharp falls in incomes and output reduced pollution • A prolonged recession places increased pressure on natural resources e.g., forests, fish stocks and minerals as people try to maintain consumption or pay debtsto maintain consumption or pay debts • Public expenditure on environmental management was
  • 21. reduced • The financial and environmental crises had similar roots i.e., rapid growth without adequate safeguards and controls • Collusion between government and private sector has prevented adequate regulation and management e.g., forests in Indonesia International cooperation • A role for international agencies such as the OECD, ASEAN, APEC • Kyoto Protocol 1997 • Countries that ratified this protocol agreed to reduce their emissions of greenhouse gases, or engage intheir emissions of greenhouse gases, or engage in emissions trading if they maintained or increase emissions of these gases • 2008-2012 first commitment period
  • 22. • Doha Amendment 2013- 20 • 37 countries signed up for second commitment period including Australia and EU Stern Review on the economics of climate change (2006) • Greenhouse gas emissions are an externality, “the greatest market failure the world has seen” (Stern, 2006) • Risks of severe climate change increases as global temperatures rise • Global emissions vary by sector of the economy but all need attention • Review estimated that the cost of climate change is equivalent to 5 per cent of global GDP per year, but it could rise to as high as 20 per cent
  • 23. • The cost of reducing greenhouse gas emissions is about 1 per cent of global GDP per year Greenhouse Gases include methane, chlorofluorocarbons and carbon dioxide. These gases act as a shield that traps heat in the earth’s atmosphere. The resulting greenhouse gas effect is thought to contribute to global warming. Greenhouse Effect: The retention of part of the Sun's energy in the Earth's atmosphere in the form of heat as a result of the presence of greenhouse gases. Although some of this radiation escapes into space, much of it is absorbed by greenhouse gases in the lower atmosphere, which in turn re- radiate a portion back to the Earth's surface. the intensification of its effect Supplement Notes
  • 24. radiate a portion back to the Earth's surface. the intensification of its effect due to increased levels of greenhouse gases in the atmosphere is considered to be the main contributing factor to global warming . Global Warming: an increase in the earth's atmospheric and oceanic temperatures widely predicted to occur due to an increase in the greenhouse effect resulting especially from pollution. The present warming is generally attributed to an increase in the greenhouse effect, brought about by increased levels of greenhouse gases, largely due to the effects of human industry and agriculture. Expected long-term effects of current global warming are rising sea levels, flooding, melting of polar ice caps and glaciers, fluctuations in temperature and precipitation, more frequent and stronger El Niños and La Niñas, drought, heat waves, and forest fires.
  • 25. Stern Review on the economics of climate change (2006) • According to the Review the policies needed include: • Carbon tax• Carbon tax • Improved technology • Deal with market failure • Multilateralism • Increase overseas aid to 0.7 per cent of GDP by 2015
  • 26. A Carbon Tax is usually defined as a tax based on greenhouse gas emissions (GHG) generated from burning fuels. It puts a price on each tonne of GHG emitted, sending a price signal that will, over time, elicit a powerful market response across the entire economy, resulting in reduced emissions. It has the advantage of providing an incentive without favouring any one way of reducingan incentive without favouring any one way of reducing emissions over another. By reducing fuel consumption, increasing fuel efficiency, using cleaner fuels and adopting new technology, businesses and individuals can reduce the amount they pay in carbon tax, or even offset it altogether. Climate change • In an interview at the World Economic Forum in Davos, Stern said: "Looking back, I underestimated the risks. The planet and the
  • 27. atmosphere seem to be absorbing less carbon than we expected, and emissions are rising pretty strongly. Some of the effects are coming through morerising pretty strongly. Some of the effects are coming through more quickly than we thought then” (The Observer, Saturday 26 January 2013) • Also at Davos, Jim Yong Kim, president of the World Bank, warned about the risk of conflicts over natural resources if the forecast of a 4 degree increase above the historical average proves accurate: "There will be water and food fights everywhere" A case study of Taiwan • In 1945 Taiwan was a backward agricultural economy, suffering from severe war damage
  • 28. • By the 1990s Taiwan was a developed economy characterised by a low level of foreign debt, inflation and unemployment, a substantial trade surplus and a population enjoying rapidly rising living standardspopulation enjoying rapidly rising living standards • Along with other Newly Industrialising Economies, Taiwan has succeeded in mastering modern technology but it has been less successful in managing the environmental risks associated with economic growth • In many respects, Taiwan has replicated the environmental history of Asia's first industrial nation, Japan (See M. Tull and A. R. Krishnan, ‘Resource use and environmental management in Japan 1890-1990’, Australian Economic History Review, Vol, 34, No. 2 (1994) pp.3-23). A case study of Taiwan
  • 29. • The Portuguese called Taiwan Formosa, or `Beautiful Island', but much of that beauty has disappeared in the interests of economic development • Taiwan is a densely populated island with few natural resources • Almost all of Taiwan's rivers are polluted by the time they reach the sea • Its farmers are some of the world's heaviest users of fertilisers and pesticides and this has led to contamination of water sourcespesticides and this has led to contamination of water sources • Less than ten per cent of human waste receives primary sewage treatment; most raw sewage is simply discharged straight into rivers or the sea • The lack of adequate treatment of human waste has contributed to the
  • 30. spread of hepatitis and other water-borne diseases • Emissions from vehicles are high and air pollution is a serious problem in the major cities A case study of Taiwan • A major turning point occurred in the late 1980s • The removal of martial law in 1987 and the move towards democracy made it possible for Taiwanese citizens to actively oppose developments which threatened the environmentthreatened the environment • “At first, economic development covered only our ankles, and we wanted more. Now, it is up to our waists, and many people feel they have enough. What we fear most is that we' ll find ourselves up to our necks in development, and then it will be too late.” • Hs_ Han-ch'ing, a teacher at a school in Lukang, Taiwan, 1988 (cited in Reardon-Anderson 1992,
  • 31. p.13). A case study of Taiwan • Taiwan 2000, a detailed report on Taiwan's environmental situation published in 1989, concluded that the `growth at all costs strategy' had led to serious damage to the environment and threatened to turn Taiwan into `a sort of poisonous garbage dump' (The Steering Committee 1989, pp. 15- 23)garbage dump' (The Steering Committee 1989, pp. 15-23) • The government publicly conceded that `Taiwan has paid a heavy price for its economic miracle' (ROC Yearbook, 1993, p.249) A case study of Taiwan • The government established an Environmental Protection Agency in 1987 and has implemented numerous initiatives to improve the environment
  • 32. • ‘Public Policies Go Green’- for details see Yearbook 2012 http://www.ey.gov.tw/en/Content_List.aspx?n=5715464F025htt p://www.ey.gov.tw/en/Content_List.aspx?n=5715464F025 572FF • Relationship with China- the re-unification issue Summary and conclusions • Economic growth in many NIEs is not environmentally sustainable • Increasing pressure on the global environment eg., the Greenhouse effect, means that a ‘groweg., the Greenhouse effect, means that a ‘grow now, clean up later’ approach to the environment is no longer possible • Challenge of climate change • International cooperation is vital if solutions are
  • 33. to be found Key Ideas for Essay Writing - BUS 272 Below are meant for general guideline to write the assignments (individual essays), you may take the full liberty to approach writing the assignment in otherwise manner and in your own preferred way. More importance is to show your understanding of the topic under discussion and your critical thinking that make your presentation a work of substance. Do take note that materials from your powerpoint notes even those at supplement version are simply not good enough to write the assignment. Do conduct some other study and basic research here. Look thru your BUS 272 Unit Guide provided by Murdoch for further information, format, other requirements, submission and proper approaches here, especially that found in page 12 to 14 there. Further, you should write your assignment in line with the marking scheme (mark sheet) that attached together with this file here (see below). In short, those areas and aspects will gain some marks as found in mark sheet, you must produce them in your writing. Your further reading and materials should at least include those "Essential Readings" list stated at your Unit Guide and possibly even some "Recommended Reading" list there. Those materials
  • 34. are accessible online at your Murdoch site. You may also out of your own initiative use other materials apart from those mentioned above such as newspapers, magazines, journals and articles that are recognised at academic level. And other official and unofficial resources. Unofficial resources (usually from Internet) may help you to gain some basic understanding of some important concepts and ideas, but NOT to be quoted in your references. Sources like wikipedia, investopedia, eMBA, Tutor2u, and alike are NOTto be quoted in your references. General Format: -- At least 1700-2000 words -- Cover page: (Stu name, Stu ID, class code, Topic Title presented, Lecture Name: Lee Lao Shi) -- Content Pages (Page no for each sub-section) -- Introduction -- Section 1 -- Section 2 and so on -- Conclusion -- Appendices (like graphs, charts, statistics and references) -- not included in word count.
  • 35. References, chicago style citation – at least 7 to 10 references Question “If the leading Asian economies continue to achieve high rates of economic growth, the state of the environment will eventually improve.” Discuss. (Note: this topic will be covered at lecture 10, same time of your submission of assignment in week 10!!! You are advised to do your own research and read thru the attached supplement powerpoint file on Topic 10 --- This is rather a general and broad scope essay topic to work on. Thus there may be quite a few alternatives to present your discussion and arguments. Islam, I. and Chowdhury, A., 'Managing the environment in rapidly industrialising economies', in Islam and Chowdhury, Asia-Pacific Economies, (London, 1997). Dixon, J. A., 'Environment and Economic Growth', ASEAN Economic Bulletin, vol., 7, no.2, 1990. Seda, M., 'Global environmental concerns and priorities. Implications for ASEAN' in Seda, M., Environmental
  • 36. Management in ASEAN, Institute of South East Asian Studies, (Singapore,1993), pp. 1-54. -- Main Content: -- Definition and discuss on key aspects of Environmental issues and problems such as Climate Change and others. -- Introduce some technical analysis such as Environmental Kuznet Curve -- Illustrate on some specific countries such as Japan, China and other East Asia high growth countries on their experience of growth and also environmental issues faced. -- Outline some possible measures being taken by these countries
  • 37. -- State your position and argue if you agree on the above statement that "the state of environment will eventually improve". -- Conclusions -- Appendices There is large and growing literature on this topic. Students should not face difficulty to access some relevant materials here. The above outlines intend as guide to narrow your scope and aspects to cover in your writing. DO NOT use the exact sentences of these outlines here as your essay headings and sub- headings. Headings and Sub-headings should be short and precise. Students should have started by reading the lecture slides and references for Topic 10 and other "essential and recommended
  • 38. readings" listed at Unit Guide in topic 10. Other official and unofficial sources can be obtained at MU LMS, library or internet. Check on some sources on some key words such as pollution, climate change and alike. Unofficial resources (like internet) may help you to gain some basic understanding of some important concepts and ideas, but NOT to be quoted in your references. Kaplan BUS 272 Module: Individual Essay Paper Mark Sheet Student ID Student Names Criteria Allotted Marks Actual
  • 39. Marks Remarks 1 Introduction, Overview and Conclusion 10.0 2 Application 0f Concepts, Theories and Basic Principles 30.0 3 Critical Thinking, Reasoning & Analysis, Structural and Systematic Approach 30.0 4
  • 40. Data, Information Gathering, Tables, Graphs and /or Statistics 20.0 5 Overall Format, Presentation, Referencing and Appendices 10.0 Total 100.0 Overall Comments & Remarks _____________________________________________________ __________________ _____________________________________________________ __________________ _____________________________________________________
  • 41. __________________ _____________________________________________________ __________________ _____________________________________________________ __________________ _____________________________________________________ __________________ _____________________________________________________ __________________ General Essay Marking Guidelines (As proposed by U.C., Prof M Tull) Bad Fail (less than 40%) · The essay is incoherent. There is little or no evidence that much time or effort has been put into its preparation. It contains many examples of careless writing, punctuation, spelling, etc. · Footnoting, general referencing and other aspects of presentation are very inadequate and contain many examples of careless errors.
  • 42. · It relies exclusively on a very narrow range of easily accessible sources such as lecture handouts or basic textbooks/reading bricks, and shows no ability or attempt to use them for any purpose other than to recall a specific fact or concept, or to paraphrase their content. · It shows significant lack of knowledge of the basic ideas or texts. Marginal Fail (40 – 49%) · The essay contains notable weaknesses in many aspects of presentation and writing skills. · The essay fails to examine the major ideas and texts known to be directly related to the question ('known to be directly related to the question' means that the ideas and texts have been discussed in lectures and tutorials, and/or have been included as recommended texts in reading lists prepared for the essay topic). · It contains significant misunderstanding of the basic ideas or texts.
  • 43. Pass (50-59%) · The essay has reached a satisfactory standard of written presentation. However, it still contains evidence of insufficient attention to the details of reading/writing processes. Referencing remains inadequate in quantity and method. Non- verbal forms of representation such as graphs, tables etc., if used, have limited relevance to the argument or are not well thought out or presented. · The arguments are basically sound, but contain some structural problems. For example, they may lack evidence of clear relationship between the parts of the argument, or of logical support for the argument's final conclusions. · The writer is able to use the main texts and concepts to answer the question set, but generally confines the answer to those texts. · The essay displays a good basic knowledge of specific facts and general concepts relevant to answering the question set. · The essay shows limited evidence of having related ideas in the basic texts to other material, or of seeing some of the implications and short-comings of those ideas.
  • 44. Credit (60-69%) · The essay has reached a good standard of writing and presentation, though it may demonstrate a need for further instruction in the basic techniques of writing and of non-verbal forms of representation (graphs, tables, etc.) · References are sufficient in quantity and quality, and are presented in a consistent and correct form. · The writer has used the major texts and ideas listed or referred to in classes and reading lists, and shows a good understanding of their content and relevance to answering the question set. The essay may also contain evidence of having searched for additional material to supplement the reading lists, but may demonstrate the writer's inability to use the material in a relevant way. · There is evidence that the writer can distinguish between arguments presented in the various texts. · There should be some evidence of the writer attempting to apply relevant principles, ideas and theories learned in economics to discriminate between arguments presented in
  • 45. different texts. Distinction (70-79%) · The essay contains all the virtues and strengths listed above with few or none of their shortcomings. In addition: · The written expression is clear and simple, and other forms of non-verbal representation such as graphs, tables, etc. are relevant and well prepared. · There is a sound, logical structure of argument throughout the essay. · The essay contains evidence of more extensive reading, and of the ability to discriminate between the ideas, the quality of argument and the evidence used by writers of different texts. · There will be attempts to apply relevant principles of economics with a significant level of success. · It should show good application of skills learned in lectures and tutorials. In particular there should be evidence of critical evaluation of arguments used by various writers, and of the ability to break down arguments to their constituent parts for
  • 46. the purpose of critical assessment (analytical ability), and to establish clear conclusions. The essay may show some willingness or ability to rearrange elements to constitute structures or perceptions not clearly there before (synthesis). High Distinction (80% or more) · The essay contains all the strengths of a good distinction essay but in addition: · It shows all the structural and technical elements of good writing. · It contains clear evidence of extensive reading, and of the ability to integrate it into the argument. · It is more markedly characterised than distinction essays by evidence of higher quality analysis, and imaginative and logically supported synthesis. · It shows ability to make judgements about the value of arguments and evidence, and to make appraisals that satisfy criteria determined by the lecturer or others. · At the highest level of achievement, but only after taking
  • 47. account of the stage reached in the student's academic career, the essay will demonstrate imagination, and flair, based on proficiency in all the learning objectives for the subject. The work is considered to be exciting, surprising, challenging or erudite. 2