CRICOS Provider Code: 00586B BEA704 Environmental Finance Assignment 1  Your group assignment must be submitted electronically to MyLo.  All work must have the Tasmanian School of Business and...

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CRICOS Provider Code: 00586B BEA704 Environmental Finance Assignment 1  Your group assignment must be submitted electronically to MyLo.  All work must have the Tasmanian School of Business and Economics Assignment Cover Sheet attached. The cover sheet is available from http://www.utas.edu.au/business-and- economics/student-resources/forms.  You must submit the assignment by 4.00pm on Wednesday 28 March 2018.  You MUST complete and submit this assignment to pass the unit.  Learning modules of Academic Skills for Business Students are available from the TSBE website below: http://www.utas.edu.au/business-and-economics/student-resources/other-resources/academic- skills-for-business-students  Read instructions carefully before attempting the assignment. http://www.utas.edu.au/business-and-economics/student-resources/forms http://www.utas.edu.au/business-and-economics/student-resources/forms http://www.utas.edu.au/business-and-economics/student-resources/other-resources/academic-skills-for-business-students http://www.utas.edu.au/business-and-economics/student-resources/other-resources/academic-skills-for-business-students CRICOS Provider Code: 00586B Instructions  Each group consists of 1-3 students.  Each group completes and submits one assignment as a group work and all group members will gain the same mark.  It is each group's responsibility to allocate the share of work.  This assignment is worth 25% of your final mark.  The maximum length of the assignment is 1,500 words (excluding references)  The appropriate reference style for this unit is the Harvard style (see http://utas.libguides.com/referencing).  Your paper should use at least three print-based (i.e., not web-based) reference materials. You may use web-materials as well, but they should be substantive and credible. For example, do not use Wikipedia or online forum as a reference).  Your assignment must be typed and double-spaced.  Your assignment needs to be well-structured, i.e., it should have a clear introduction, main body and conclusion.  Use section headings to help structure your arguments and to improve the readability. http://utas.libguides.com/referencing CRICOS Provider Code: 00586B QUESTION The Australian Commonwealth Government has established a network of marine parks that will protect more than a third of Commonwealth waters (http://goo.gl/eNwFSV). Marine parks are parts of the ocean that are managed primary for the conservation of their ecosystems, habitat and the marine life they support. Marine parks (alternatively known as marine protected areas or marine reserves) are widely used, both nationally and internationally, as a central management tool for maintaining the long-term heal and productivity of the oceans. The government has asked you to prepare a consulting report on the following considerations: 1. Key ecosystem services provided through the network of marine parks; 2. Existing and emerging risks associated with the degradation of the marine ecosystems in Australia at both the national and international level; 3. How the value of the ecosystem services provided through the marine parks can be fully captured; 4. Role of markets in the provision of the ecosystem services; and 5. Role of government in the provision of the ecosystem services. Your tasks in this assignment are:  Identify and outline 3 ecosystem services provided by the network of marine parks in Australia. Make sure that you choose a variety of different types of the benefits provided. This will be a basis for the rest of your assignment.  Categorise each of the ecosystem services you have identified above. Explain your reasoning.  Discuss both existing and emerging risks threatening the value of these ecosystem services.  Is there a tradeoff between the provision of these ecosystem services above and other benefits derived from the marine ecosystems?  Explain whether the provision of each ecosystem service you have identified above is subject to market failure. If it is, specify the source(s) of market failure and discuss why markets fail to set efficient prices. If it is not, explain why the ecosystem services can be provided by markets in a socially desirable way. CRICOS Provider Code: 00586B Readings  Grafton, R.Q., Akter, S. and Kompas, T., 2011. A policy-enabling framework for the ex-ante evaluation of marine protected areas. Ocean & Coastal Management, 54(6), pp.478-487.  Angulo-Valdés, J.A. and Hatcher, B.G., 2010. A new typology of benefits derived from marine protected areas. Marine Policy, 34(3), pp.635-644.  Chapters 4 and 5 in Markets and the Environment by Keohane and Olmstead (Available on the UTAS library website as an eBook).  Chapters 2 and 3 in Nature and the Marketplace by Geoffrey Heal (Hard Copy available at the UTAS library)  Chapter 2 in Capitalizing on Nature by Edward Barbier (eBook available from the UTAS library website) [Title of your report] Prepared by [Your names] Tasmanian School of Business and Economics University of Tasmania March 2018 1. Introduction  Discuss the aims of this report and provide the overview and background information; i.e., what topics are discussed in this report? what makes the topic important? What are you are going to present in this report? Outline the organization of the report. 2. Ecosystem services  Identify and outline 3 ecosystem services provided by the network of marine parks in Australia. Make sure that you choose a variety of different types of the benefits provided. This will be a basis for the rest of your assignment.  Categorise each of the ecosystem services you have identified above. Explain your reasoning. 3. Risk and market failure  Discuss both existing and emerging risks threatening the value of these ecosystem services.  Is there a tradeoff between the provision of these ecosystem services above and other benefits derived from the marine ecosystems?  Explain whether the provision of each ecosystem service you have identified above is subject to market failure. If it is, specify the source(s) of market failure and discuss why markets fail to set efficient prices. If it is not, explain why the ecosystem services can be provided by markets in a socially desirable way. 4. Conclusion  Summarise the key story in your report.  Briefly discuss an implication for how policy should be made given your discussion above. References  Make sure you use the Harvard reference style (see http://utas.libguides.com/referencing) http://utas.libguides.com/referencing