Assignment Details: A Case Study on Catch Shares
Society is becoming increasingly aware of the strain we are putting on the world's resources. Sometimes private individuals or groups are left to take up the cause of sustainability. However, in many cases governments have intervened in an effort to conserve resources for future generations. The fishing industry is one such of these examples. The government has begun regulating markets in the US and effectively creating catch quotas for commercial fisherman.
This is a multi-part assignment in which you will examine and evaluate the fishing market, outlining the merits and weaknesses of regulations as well as suggest an alternative, from an economic point of view. As you progress through the course you will incorporate more and more economic language into your analysis, in the end forming a complete economic discussion.
In this part of the assignment you are to familiarize yourself with the issues in the fishing market, do some research of your own, and submit a references page. Before the end of week - explore websites, and read articles (all given below). Also review other sources you find through independent research.
Begin writing your references page. At this stage the citations should include all the sources posted below. If you end up not using the any of the following sources you can redact them from the citation page when submitting the final paper.
https://www.edf.org/oceans/how-catch-shares-work-promising-solution (Links to an external site.)
https://www.catchshareindicators.org/home/ (Links to an external site.)
Read Articles (attachment)
A rising tide | The Economist.pdf
How to stop fishermen fishing _ The Economist.pdf
Study_ Program To Protect Fish Is Saving Fishermen's Lives, Too _ The Salt _ NPR.pdf
Describe the fishing market using what you have learned about opportunity cost, marginal analysis in decision-making, and markets. You must include a discussion of supply and demand as well as marginal benefits and marginal costs.
The body of the text must be at least 2 full pages,
Expand your discussion of the market from Part I, using what you have learned about market failures/problems and the feedback you received. Discuss why the market failure occurs and include the correct graph.
Consider catch shares and the positive aspects of this government intervention. Explain the current government intervention and exactly how it corrects the market failure. Include any other positive aspects of catch shares that you find through your own research.
The body of the text must be at least 4 full pages.
Consider catch shares and the negative aspects of this government intervention. Add to your discussion of catch shares using what you have learned about how monopolies make pricing and output decisions, and how and why market power is a problem, in addition to the feedback you received. Include any other negative aspects of catch shares that you find through your own research.
Now put yourself in the role of a social advocate. Noting the problems you presented above, what solutions do you have to help protect society? Offer an alternative solution that addresses the issues you noted in part I and avoids the problems you noted in the first half of part II. Be creative, you are not limited to possible government intervention but should also consider potential interventions from other groups in society.
Note: This is the final part of the writing assignment. You must submit a completed paper with title page, introduction, body, conclusion, and references page. The paper should breakdown the fishing market and problems within it, evaluate the current solution and it’s limitations, and propose an original contribution/potential solution.
Every part should be in a separate file.
All parts are related to each other.