1 think of an environmental problem e g climate change acid rain agricultural chemical run offs water pollution air pollution etc that seems interesting or urgent to you

Briefly describe this problem. What causes it? What are the potential short-term and long-term impacts?

b. Suppose that you are a policy maker and you are in charge of implementing a policy dealing with this problem.

i. Suppose that you propose a standard. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks?

ii. Suppose that you propose an emission tax. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks?

iii. Suppose that you propose a Cap-and-Trade system. Briefly explain how this policy would work and how it would deal with the environmental issue. What would be the positive attributes of this policy? What would be negative attributes, or drawbacks?