ECO200: Professor Khazra and Professor Marein - Economics Assignment Help

Assignment Task:

Task:

Your Role In this assignment, you will act as an applicant for the Chief Economist role at Tesla, using your knowledge from ECO200. Let’s see if you can get the position! In your writing assignment, you should analyze the scenario using the tools we have discussed in ECO200. You may assume that your audience has also had ECO200. This means that you should model and describe the situation under consideration using tools we have discussed, and analyze the predictions of that model as it relates to the policy objectives. You should be clear about what you are considering when making your policy recommendations, and how those factors impact your decision. If you make any additional assumptions (beyond those mentioned above), you should clearly state them and, if relevant, address what would happen if those assumptions do not hold. In this section, you may use technical terms, such as “deadweight loss”, but you should not include any graphs. Your Tasks 1) Analyze the likely effects of the Zero Emissions Vehicles (ZEV) subsidy and the tax on carbon using tools from ECO200. 2) Explain the potential impacts of the ZEV subsidy and the carbon tax for Tesla. 3) Briefly talk about government’s perspective on the policies and social welfare. IMPORTANT: Since we have not yet covered producers’ behavior, assume that Tesla’s objective is to maximize total revenue, which is the number of vehicles sold times the price. Premise “The Canadian government recently announced a Zero Emissions Vehicle (ZEV) mandate. It requires that by 2030, half of all new light-duty vehicles sold fall into the ZEV category, which includes electric, hybrid, or hydrogen powered vehicles. By 2035 this requirement will apply to all new light-duty vehicles. Without providing any details, the government also announced it will make $1.5 billion available for rebates (or subsidies, herein used interchangeably) on ZEV purchases.”

Scenario

This announcement has garnered the attention of many ZEV proponents—including Elon Musk, CEO of Tesla Motors. In light of this, Elon has become obsessed with the Canadian ZEV market and, as such, has set up a new head office in Toronto. The Board of Directors has told him that he needs to hire a Chief Economist to assess the market landscape here in Canada in the wake of the government’s new ZEV mandate. For reasons he’s chosen not to disclose, he’s looking to hire this new executive exclusively from U of T’s ECO200 class of 2021/22. Page 3 ECO200 As part of the hiring process, he has put together an assignment for this class. He has chosen to provide an outline where he has specified the key topics he wants candidates to address. Although these topics are fairly wide open, Elon wants his Chief Economist to apply economic concepts across a range of possible issues as they relate to Tesla. That being said, part of this assignment is to gauge how you—as an economist—think these areas relate to Tesla’s business. That means you do not have to address all of the guiding points provided and are encouraged to offer insights that stand out from the crowd. In doing so, keep in mind that Elon likes concision, so make sure everything you include in your assignment adds to your analysis of the section’s topic. Elon has set a hard limit for the assignment of 500 words. Remember, your chance of getting this position depends significantly on the output of your work. Here is the outline he has provided: 1 The Subsidy and the ZEV Market (30 points) I am trying to get a better understanding of how this new mandate will impact Canada’s ZEV market. I know that for some years, the federal and most provincial governments have offered incentives for consumers who buy ZEVs. The Federal government currently provides a subsidy of up to $5,000 on the purchase of new ZEV; this rebate only applies to cars under $45,000, for the most part. There are a limited number of rebates available in that the incentive program has limited funds. Before the mandate’s new funding, there was only enough for 120,000 vehicles, assuming $5,000 for each new car sold.

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