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AS Microeconomics EW1

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AS Microeconomics EW1

  1. 1. AS Micro Economics: EW Assignment 1<br />1/ Please read through Chapter 1 of the study companion - The Basic Economic Problem - Scarcity and Choice - annotate and highlight as you wish<br />2/ The Millennium Development Goals set a series of ambitious targets for meeting the basic human needs of millions of people in some of the world’s poorest countries. <br /><ul><li>Research and list in your answer the eight main goals
  2. 2. Head to http://mdgs.un.org/unsd/mdg/Default.aspx
  3. 3. Find the latest report on progress in meeting these goals (published July 2011). Open the file (it is a pdf 3mb)
  4. 4. Choose two countries that have made good progress in meeting some or all of the MDG? Choose two countries that are lagging behind. Then put together a brief commentary on this – aim for 300-400 words in total.</li></ul>3/ Explain briefly what is meant by water scarcity (http://www.un.org/waterforlifedecade/scarcity.shtml) and explain why it is an economic problem. (200 words approx)<br />4/ Comment piece: <br />You are an environment minister faced with an important economic policy decision. Currently, around one-third of domestic properties in England and Wales are metered. Other people pay water rates but their rates do not depend on how much water is used. The average un-metered bill for 2011/2012 in England and Wales will be £379, while the average metered bill is £325 – though it varies heavily with region.<br />There is a plan in front of you to invest £600 million of extra government spending installing water-meters in all those remaining homes in England and Wales that currently do not have a water meters. Water meters would be made compulsory for all homes.<br />Discuss some of the economic arguments for and against a large investment in water meters for millions of homes in the UK. (400-600 words)<br />Some references for your reading:<br /><ul><li>Water UK – the economics of metering: www.water.org.uk/home/news/comment/utility-week---metering
  5. 5. Water bills: how you can cut them (BBC) - www.bbc.co.uk/news/business-12759940
  6. 6. Conservationists say homes should cut water use by 20% (BBC news) - http://www.bbc.co.uk/news/uk-11716716
  7. 7. Water meters in all homes by 2030 to ease shortages (Guardian, 2009) - http://www.guardian.co.uk/environment/2009/mar/29/environment-agency-water-household-bills

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