HND经济学1oc3
HND经济学导论
An investigative report on Welfare Policy in the U.K. MarketOutcome 3Candidate Name: WANGGAIGrade and Class: 11 Financial services class 6Catalog ●Introduce●Section 1●Section 2●ResearchIntroduce：This report is market failure and government's role and the social welfare policy survey report, report the information from the website as well as books, in a report last may elucidate.1、Market failure：Market malfunction is due to intrinsic functional defects and external conditions caused by the defect of market mechanism in the allocation of resources in certain areas of operation. Because the market monopoly and price distortion or for the public goods character because of the asymmetric information and the external reasons, causes the resources disposition of invalid or small effect, which can realize resource to configure zero opportunity cost of resource allocation state. Usually used for invalid rate of special major, or non market mechanism is more efficient and the ability to create wealth is better when the private choice. On the other hand, the market failure is usually used to describe the market forces can not meet the status of public interest. Market failure establishes the basis for government intervention. The roles of government in attempting to correct these failures: merit goods, public goods, externalities and imperfect competition。
HND大二经济学导论报告参考Outcome三
An Evaluation of UK Government Policy on Mentalhealth and behavior in schoolsTable of Contents1 Introduction (1)2 Market failure (2)2.1 Merit goods (2)2.2 Public goods (2)2.3 Impertfect competition (2)2.4 Externalities (2)3 UK Governments policy (1)3.1 Introduction to the policy (2)3.2 instruments used (2)3.3 Justification of the performance of policy (2)4 Conclusion (2)References (5)Appendices (6)Appendix I: (6)Appendix II: (6)1IntroductionThis report aims to explain the‘market failure’and the role of government in relative to merit goods, public goods, imperfect composition and externalities.The policy about mental health and behavior in school will also be introduced.Then it will describe the instruments used to achieve the policy and evaluate the policy.2Market failureMarket fail, that is, they do not provide all of the goods and services needed by the government,nor by society(SQA,2013a p184).2.1Merit goodsThe government provides services that might not be provided by the private sector in sufficient quantities or of a sufficient quantity (SQA,2013a p188).For instance,medical services,education and so on.In China,the government provides the public universities and nine year education,which support children to go to school and get a better education.2.2Public goodsThese are commodities, which would not be provided by the private sector because they would find that many people, even if they benefited from them, would refuse to pay(SQA,2013b p190), for example, grills in the park and Automatic Pet Water Fountain and so on.In many countries, the government provides the Automatic Pet Water Fountain, which is convenient for passerby to drink water whenever they want.2.3Imperfect competitionA company which control their own market , and they have no rival. A monoplist can adjust prices output in the market.for example, on February 5, 1991, pierpont Morgan bought Andrew Carnegie, Rockefeller,several iron ore and all the steel business,became the largest steel company , 65% of steel production by their control.The government could establish perfect competition through the establishment of enterprise competition policy (Peter,2013)2.4ExternalitiesAn externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account (SQA,2013d p188).For example, the negative externalities include car exhaust, smoking, kara OK noisy,which will do harm to the environment and people’health.As far as I am concerned, the government should have odd-and-even license plate rule and provide new energy electric vehicle.The positive externalities include new technology like purify the water and restoration of historical buildings.I think the government should support the enterprise to create more new technology.3UK Governments policy3.1 Introduction to the policy--Mental health and behavior in schoolsThe purpose of this policy is to let all pupils benefit from learning and developing in a well ordered school environment that fosters and rewards good behaviour and sanctions poor and disruptive behaviour. Their behaviour and discipline in schools advice sets out the powers and duties for school staff and approaches they can adopt to manage behaviour in their schools. It also says that schools should consider whether continuing disruptive behaviour might be a result of unmet educational or other needs. Published on16 June 2014，last updated on18 March 2016(Gov,UK,16 June 2014)3.2 Instruments usedInstruments- economic variables that governments can control directly for example, tax, public spending(SQA,2013e p194).The government take actions via government spending and relevant regulation.They found the Child and Adolescent Mental Health Services to deal with it.The specific services offered by CAMHS vary depending on the needs of the local area. The best way to influence those services overall is to get involved with the local health and wellbeing board.The government take actions to help them in referring pupils effectively to specialist CAMHS and otherwise working well with the service for the benefit of their vulnerable pupils. These include:1.The government hire some people documenting evidence of the symptoms or behaviour that are causing concern,encouraging the pupil and their parents/carers to speak to their GP2.The government spent some money working with local specialist CAMHS to make the referral process as quick and efficient as possible(Spence, S.H. 2003)3.1Justification of the performance of the policyI think the policy is successful, the mental health care benefits can make children to have a happier life.Thanks to the policy, children now have the ability to develop psychologically, emotionally, intellectually and spiritually.However,I think the policy also has some disadvantages.It has greatly increased government pressure.For example,Set up the CAMHS organization to support the school and some public organization。
hnd经济学1微观经济学outcome1
Table of Contents1.0Introduction (1)2.0 Oligopoly (1)Entry barriers (1)Non-price competition (2)3.0 Explanation for Diagram in Oligopoly (2)4.0 Pure Competitive Market (3)Lower prices (3)Low barriers to entry (4)5.0 Explanation for Diagram in Pure Competitive Market 46.0 Roles of Profit in Market Economy (6)Demand for factor resources (6)Market Entry (6)7.0 The other two alternatives to profit maximization (7)Satisficing behaviour (7)Sales revenue maximization (7)8.0 Influences on a Firm in the Short Run (8)9.0 References (9)1.0I ntroductionMarco and Micro economic knowledge we had learned in this period is mainly to discuss about some major market structures in the entire market now. And they are oligopoly, monopoly and pure competitive market and so on. In this case, the Virgin Mobile had entered in mobile phone market in the UK, which is an oligopoly market. In this market, Orange, Vodafone, BT Cellnet and One2One are the oligopolists.2.0O ligopolyWhen a market or industry is dominated by a small number of sellers, we usually believe an oligopoly appears. And there are two main features of oligopoly:Entry barriers: It’s a great block for the new company to be a long-run part of an oligopoly market. Usually, many smaller firms operate on the periphery on such s market, which means these companies cannot reach the supernormal profits or affect much to market prices and output. Take Virgin Mobile (VM) as an example: Before VM engaged in the mobile phone market in the UK, there were some industrial giants conquered the market-Orange, Vodafone, BT Cellnet and One2One, which account for a large market share. Although VM is making profit, the money it earned is far less than any one of these oligopolist.Non-price competition:As a few company be dominant to an industrial, pricing can be no longer an effective competitiveness for those oligopolistic firms. Compared with pricing, after-sales service, extension of new market and advertising seem to be more emphasized by them. In this case, the VM is better to promote the competitiveness in such ways -- improving the after-sales quality, expanding into new markets , building their own brand and so on.3.0E xplanation for Diagram in OligopolyIn the oligopolistic market, the oligopolists may react diversely to the different price variation trend of their rivals. If one oligopolist raises the price and other companies will not follow it to maintain the market share, however, if the company reduce the price and other companies must follow, which is to keep more market shares. It can be seen in the kinked demand curve below.Before the price is higher than P1, the product demand is elastic that means the price raises and the total revenue will reduce. But when the price is lower than P1, the product demand is inelastic -- the price reduces and the total revenue will also do. Thus, the company may able to reach a stable profit-maximizing equilibrium at the point G, so the companies in the oligopolistic market can not change the price optionally.4.0Pure Competitive MarketIn the pure competitive market structure, the company can compete with each other perfectly. There are two common characteristics that are considered to be “competitive”are:Lower prices: Generally, a perfectly competitive market existswhen every participant is a "price taker"which means thesuppliers will have not able to raise price for facing elasticdemand curves, and no participant influences the price of theproduct it buys or sells.( /wiki/Perfect_competition#Basic_structural_characteristics ) .So simply raising price will make a loss of demand and totalrevenue. The cross-price elasticity of demand can reflect thecustomers’attitude towards some particular goods. Thedemand of substitute goods is holding pace with the pricewhen it has any change. Conversely, the demand ofcomplementary goods would decrease when the price increase.In this condition, customers will always find the most propergoods for themselves.Low barriers to entry: Compared with oligopoly, the new firms would be easier to enter in the pure competitive market. Andthe entry of new participants will probably providecompetition and ensure price is kept low in the long run.5.0Explanation for Diagram in Pure Competitive MarketIt is known to all that each individual firm is considered as a pricetaker. Customers may not prefer to buy a product with a higher price. Because of the characteristic (perfect knowledge) of pure competitive market, neither buyers nor sellers can gain an advantage and firm may sell their goods at the point where they have the maximized profit.From the short run view of a firm in a pure competitive market structure, the explanation of the diagram is as follow:The price in a pure competitive market structure is decided by demand and supply, which can be seen in panel on the right. When demand rises from D1 to D2, the equilibrium point goes from A to B and P2 is the established price. Because of the price which a firm use stays at P2, marginal revenue is equal t o P2 at last average revenue is equal to P2 as well. When MC=MR, pr ofit maximization is achieved, so the point which firms will stop prod ucing should be C which ordinate is P2 and abscissa is Q2. Accordingto the diagram above, when quantity is Q2, ATC is equal to P1. So P2 subtract P1 is average profit and then multiply by Q2 can obtain tot al profit.6.0Roles of Profit in Market Economy●Demand for factor resourcesScarce factor resources to flow where the expected rate of return or profit is highest. In the mobile phone market, when Richard Branson started to get profit in 2002, VM has 1,445,492 customers, which means stronger demands, more labour and capital are committed.With more scarce factor resources, VM may able to earn more profit.However, in a recession, the output, incomes and investment for VM must all fall, which may cause the profit loss. Thus the company should take action (for example cutting costs) to preserve its market position.●Market EntryIf an individual company gets more profit than others, it must be a signal to other producers within a market that profitable entry may possible. After three-year efforts, Richard Branson made VM profiting.When it comes, many other firms would be attracted to enter the industry. Thus, the competition would be increased and new products,technologies would be also updated in a higher speed.7.0The other two alternatives to profit maximization●Satisficing behaviourSatisficing behaviour can be the substitute to profit maximization behaviour. This behavioural method lays stress on how decisions are taken within the firm. When a decision is making, satisficing explains that individuals and groups should choose the first option that is good enough to address most needs rather all. Based on Herbert Simon’s work concerning behaviour --“people possess limited cognitive ability and can exercise only ‘bounded rationality’when making decision in complex, uncertain situations”, satisficing behaviour encourages individuals and groups to attain a more realistic goal.If VM set a goal that expending their customers to 2 million in a year, finally it reaches 2.5 million. Thus wise we can take the goal for a receivable.●Sales revenue maximizationThe goal of sales revenue maximization is to maximize the sales other than profits. The managers decision price and strategy of products. In this pattern of management, business can grow or sustain marketshare, ensure survival, discourage competitors, achieve bonuses and build the prestige of the senior management.For the VM, when it initially entered the mobile phone market, it is a great approach that selling their products as many as possible with the lowest profit to enlarge their market share.8.0Influences on a Firm in the Short RunFrom the diagram above, which can be seen are total cost (TC) is the sum of fixed (TFC) and variable costs (TFC).In the beginning, when nothing is being produced ,the fixed costs will be equal to the total cost. The TC and TVC increase concurrently with the quantity, but they are paralleled and the distance between them is TFC which is always invariable. And total cost is an upward trend.The diagram is about the short run cost curves. One time the fixed cost is excessively used, which will lead to the progressive decrease of marginal product, meanwhile the marginal product reduce will lead to the decrease of marginal revenue. Leading the reducing of the ATC when MC<ATC, on the opposite, it will lead to the ATC's increasing. Making the short-run ATC curve look like U-shaped, on the other side, the law of diminishing returns will lead to the rise of marginal cost of pr oduction as output increases.When AVC increasing higher than the fall in AFC one time the output in creases , which the marginal cost is rising will lead to the average total c ost rising9.0References( /wiki/Perfect_competition#Basic_structural_char实用文案acteristics ) .标准文档。
HND 微观经济学1
Contents1.0Introduction------------------------------------------p32.0Body---------------------------------------------------p32.1Market Failure-------------------------------------p32.2Public Goods---------------------------------------p32.3Merit Goods----------------------------------------p32.4Externalities--------------------------------------- p32.5Imperfect Competion-----------------------------p4 2.6 Climate policy----------------------------------------p52.6.1Climate plan------------------------------------p52.6.2Instruments-------------------------------------p52.6.3Result--------------------------------------------p53.0Conclusion------------------------------------------------p64.0Reference--------------------------------------------------p65.0Appendix-------------------------------------------------p71.0 IntroductionThis report’s aim is to explain market failure and the role of government in public goods ,merit goods, externalities and imperfect competition .It also analysis the policy about climate in UK.2.0 Maintain body2.1 Market failureIn economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient.Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient –that can be improved upon from the societal point of view.2.2 Public goodsThe first category is a pure public good, is both non-exclusive and non-competitive; characteristics of the second category of public goods is a non-competitive on the consumer, but it can easily be done less exclusive, some scholars such articles image called club goods; the third category of public goods and club goods is just the opposite, namely competitive in the consumer, but it can not effectively discharge him, some scholars such items as a shared resource or common-pool resource items.But for those with higher implementation costs or smaller scale of demand exclusivity crowded public goods, supply vendors is difficult to obtain a normal profit, the market can not effectively supply. Market mechanisms manifested in the effective supply of public goods incompetence, government intervention in the economy but also to provide an important basis.2.3 Merit GoodsMerit Goods means good for consumers but because of consumer ignorance and lack of consumer goods.For example,Medical ernment must control it. If there is a private charge, the price will change as personal thoughts. Once becomingthe formation of private monopolies, it will definitely lead to serious social ernment become a social’s security.2.4 ExternalitiesI n economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.If there are external benefits, such as in public safety, less of the good may be produced than would be the case if the producer were to receive payment for the external benefits to others. For the purpose of these statements, overall cost and benefit to society is defined as the sum of the imputed monetary value of benefits and costs to all parties involved.Paper mills can be estimated earnings according to the market price of paper, you can estimate costs based on elements of the market price. As long as the benefits outweigh the costs, will increase the production of paper. Paper production will pollute water’s quality, increased social costs of production. However, there is no pure air market,paper dealer will not be forced to bear the cost of air quality and thus the profits of manufacturers will not include this cost estimate.If government don’t intervene it,external effects will never be solved.2.5 Imperfect Competition.In economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.Ideal perfectly competitive market economy, based on the normal order of market economy also fully competitive as a precondition.But it is very hard to come true.On the imperfectly competitive market, manufacturers have a lot of market power, they can influence and even determine the market price.Under normal circumstances, the monopoly will give manufacturers to bring excess economic profit. In the absence of sufficient competition exists but excess economic profit, the monopolist often lack the incentives to innovate, there is no initiative to improve production efficiency, which gives the development of productive forces has brought significant obstacle.So government must ernment become a Macro-control person.2.6 Climate policyTo encourage companies to find cost-effective emission reduction and coping measures, the British government has taken measures to climate change levy and implement an emissions trading system and so on, and funded the establishment of Carbon Trust to provide relevant advice and services for enterprises and the public.2.6.1 Climate Change PlanAgainst the greenhouse effect, in November 2000 the British issued a "Climate Change Plan", stated to reach all types of industry "Kyoto Protocol" other emission reduction targets, is scheduled to start from April 2001 climate change levy .It is benefit to reduce the emission of GHG2.6.2 InstrumentBritain was the world's first country to introduce a long-term legislative framework to tackle climate change, "Climate Change Bill" in November 2007 at the Congress started, March 31, 2008 by House of Lords, currently in the House of Commons discussion, the goal is to finish in the fall of 2008 legislative program, to attain formal approval.2.6.3 ResultAccording to the latest annual report of the July 17, 2008 release, the 2007 UK carbon dioxide emission Put the total was 543.7 million tons, compared to emissions in 2006, reducing the 2%; relative reduction 13% in 1990; in 2010 is expected to be able to achieve reduction of 15.5%, which is the first time in 2007 than the year the report is expected to be done to reduce emissions 18%, it seems that the situation is not optimistic, but it does get improvement with some extent.3.0 ConclusionMain economic goals of the government are to adjust the market, make the market good and fast developed.Market failure caused by a series of economic problems, the government must launched more effective policies to prevent the emergence of market failure.Perfect climate policy will help to improve climatic conditionsEU as a group of countries, the emission reduction targets under the "Kyoto Protocol" commitment is to the first commitment period (2008-2012) in 1990 on the basis of emissions 8%. The EU in turn the emission reduction targets internally secondary decomposition, make adjustments based on country-specific circumstances. Low level of development in some countries, like Spain, Portugal, etc., to allow their obligations lightly, while the ultra out of the reductions within the EU accounted for mainly by the leadership of the two great powers - Britain and Germany - to bear.Britain assumed emission reduction obligations for 12.5%, while domestic emission reduction targets established by the UK higher plan in 2010 based on emissions in 1990 by 20% to 60% by 2050. In order to complete the reduction targets, the British established a relatively complete system of domestic climate policy. UK Department for Environment, Food and Rural Affairs as the main department responsible for climate policy, were launched national programs to address climate change in 2000 and twice in 2006, and since 2007, to submit annual reports to assess and report annually to Congress on Climate Change policy implementation and effectiveness.According to the latest annual report of the July 17, 2008 release, the total carbon dioxide emissions from the United Kingdom in 2007 was 543.7 million tons, compared to emissions in 2006, reducing the 2%; relative reduction 13% in 1990; expected 2010 15.5% reduction can do this the first time in 2007 than the annual report is expected to be done to reduce emissions 18%, it seems that the situation is not optimistic. Although 20 percent of emissions from domestic objectives there is a gap, but the completion of the amount still exceeded its statutory obligations, visible emissions problem on British attitudes are more positive.The Guardian2007-03-27For the greenhouse effect, in November 2000 the British issued a "Climate Change Plan", stated to reach all types of industry, "Kyoto Protocol" other emission reduction targets, is scheduled to start from April 2001 climate change levy tax. As of the end of March 2001, the British government (including the environment, transport and local government) and 40 industry groups signed a "climate change levy agreement"(Climlate Change Agreement). Agreement, the industry may choose to cap emissions manner or mode of production of individual units set protocol targets, the government then set a target to reduce the industry on the basis of 20% to 80% of the climate change levy. If no agreement is reached after 2 years reduction targets are, you can not continue to enjoy tax preferential treatment.Faced with diverse and complicated environmental issues, the British government and the industry as early as 1972 began to adopt environmental agreements as a means of environmental policy. At first, the British government in waste treatment countermeasure has warned that if the voluntary program was unable to reach a satisfactory established goals, the Act will take control. In recent years, the United Kingdom when modifying the provisions of the Finance Act, from April 2001 to levy taxes to climate change and to take the government and the energy consumption of industrial environmental agreements signed ways to improve energy efficiency and reduce emissions by up to give businesses mitigate 80 % discount panies are obliged to use energy information, reports production numbers to the Ministry of Environment. Ministry of Environment can appoint an independent supervisor (usually non-governmental organizations) in check, if the goal is to complete the identification card issued by the tax authorities with the identification certificate automatically concessions. While the above enterprise environmental agreements signed between the Government and the taxes associated with the content, is a legal agreement, but the government and the industry never will be as voluntary agreements, as "a gentleman agreement" on the nature of the non-binding law force.De finition of market failureMarket failures have negative effects on the economy because an optimal allocation of resources is not attained. In other words, the social costs of producing the good or service (all of the opportunity costs of the input resources used in its creation) are not minimized, and this results in a waste of some resources.Take, for example, the common argument against minimum wage laws. Minimum wage laws set wages above the going market-clearing wage in an attempt to raise market wages. Critics argue that this higher wage cost will cause employers to hire fewer minimum-wage employees than before the law was implemented. As a result, more minimum wage workers are left unemployed, creating a social cost and resulting in market failure.British "environmental policy" InterpretationClimate Change and Energy: Climate change is the greatest environmental challenge facing the world today, the 2006 UK Climate Change Programme is the UK Government on tackling climate change work's core strategy, which describes the British government policies and measures to reduce greenhouse gas emissions, Meanwhile describes how the British prepared to adapt to climate change impacts. March 2007, the draft law on climate change Britain began public comment. To encourage companies to find cost-effective emission reduction and coping measures, the British government has taken measures to climate change levy and implement an emissions trading system and so on, and funded the establishment of Carbon Trust and the Energy Saving Trust two institutions, enterprises and the public to provide relevant advice and services.。
HND 微观经济学1
Contents1.0Introduction------------------------------------------p32.0Body---------------------------------------------------p32.1Market Failure-------------------------------------p32.2Public Goods---------------------------------------p32.3Merit Goods----------------------------------------p32.4Externalities--------------------------------------- p32.5Imperfect Competion-----------------------------p4 2.6 Climate policy----------------------------------------p52.6.1Climate plan------------------------------------p52.6.2Instruments-------------------------------------p52.6.3Result--------------------------------------------p53.0Conclusion------------------------------------------------p64.0Reference--------------------------------------------------p65.0Appendix-------------------------------------------------p71.0 IntroductionThis report’s aim is to explain market failure and the role of government in public goods ,merit goods, externalities and imperfect competition .It also analysis the policy about climate in UK.2.0 Maintain body2.1 Market failureIn economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient.Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient –that can be improved upon from the societal point of view.2.2 Public goodsThe first category is a pure public good, is both non-exclusive and non-competitive; characteristics of the second category of public goods is a non-competitive on the consumer, but it can easily be done less exclusive, some scholars such articles image called club goods; the third category of public goods and club goods is just the opposite, namely competitive in the consumer, but it can not effectively discharge him, some scholars such items as a shared resource or common-pool resource items.But for those with higher implementation costs or smaller scale of demand exclusivity crowded public goods, supply vendors is difficult to obtain a normal profit, the market can not effectively supply. Market mechanisms manifested in the effective supply of public goods incompetence, government intervention in the economy but also to provide an important basis.2.3 Merit GoodsMerit Goods means good for consumers but because of consumer ignorance and lack of consumer goods.For example,Medical ernment must control it. If there is a private charge, the price will change as personal thoughts. Once becomingthe formation of private monopolies, it will definitely lead to serious social ernment become a social’s security.2.4 ExternalitiesI n economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.If there are external benefits, such as in public safety, less of the good may be produced than would be the case if the producer were to receive payment for the external benefits to others. For the purpose of these statements, overall cost and benefit to society is defined as the sum of the imputed monetary value of benefits and costs to all parties involved.Paper mills can be estimated earnings according to the market price of paper, you can estimate costs based on elements of the market price. As long as the benefits outweigh the costs, will increase the production of paper. Paper production will pollute water’s quality, increased social costs of production. However, there is no pure air market,paper dealer will not be forced to bear the cost of air quality and thus the profits of manufacturers will not include this cost estimate.If government don’t intervene it,external effects will never be solved.2.5 Imperfect Competition.In economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.Ideal perfectly competitive market economy, based on the normal order of market economy also fully competitive as a precondition.But it is very hard to come true.On the imperfectly competitive market, manufacturers have a lot of market power, they can influence and even determine the market price.Under normal circumstances, the monopoly will give manufacturers to bring excess economic profit. In the absence of sufficient competition exists but excess economic profit, the monopolist often lack the incentives to innovate, there is no initiative to improve production efficiency, which gives the development of productive forces has brought significant obstacle.So government must ernment become a Macro-control person.2.6 Climate policyTo encourage companies to find cost-effective emission reduction and coping measures, the British government has taken measures to climate change levy and implement an emissions trading system and so on, and funded the establishment of Carbon Trust to provide relevant advice and services for enterprises and the public.2.6.1 Climate Change PlanAgainst the greenhouse effect, in November 2000 the British issued a "Climate Change Plan", stated to reach all types of industry "Kyoto Protocol" other emission reduction targets, is scheduled to start from April 2001 climate change levy .It is benefit to reduce the emission of GHG2.6.2 InstrumentBritain was the world's first country to introduce a long-term legislative framework to tackle climate change, "Climate Change Bill" in November 2007 at the Congress started, March 31, 2008 by House of Lords, currently in the House of Commons discussion, the goal is to finish in the fall of 2008 legislative program, to attain formal approval.2.6.3 ResultAccording to the latest annual report of the July 17, 2008 release, the 2007 UK carbon dioxide emission Put the total was 543.7 million tons, compared to emissions in 2006, reducing the 2%; relative reduction 13% in 1990; in 2010 is expected to be able to achieve reduction of 15.5%, which is the first time in 2007 than the year the report is expected to be done to reduce emissions 18%, it seems that the situation is not optimistic, but it does get improvement with some extent.3.0 ConclusionMain economic goals of the government are to adjust the market, make the market good and fast developed.Market failure caused by a series of economic problems, the government must launched more effective policies to prevent the emergence of market failure.Perfect climate policy will help to improve climatic conditionsEU as a group of countries, the emission reduction targets under the "Kyoto Protocol" commitment is to the first commitment period (2008-2012) in 1990 on the basis of emissions 8%. The EU in turn the emission reduction targets internally secondary decomposition, make adjustments based on country-specific circumstances. Low level of development in some countries, like Spain, Portugal, etc., to allow their obligations lightly, while the ultra out of the reductions within the EU accounted for mainly by the leadership of the two great powers - Britain and Germany - to bear.Britain assumed emission reduction obligations for 12.5%, while domestic emission reduction targets established by the UK higher plan in 2010 based on emissions in 1990 by 20% to 60% by 2050. In order to complete the reduction targets, the British established a relatively complete system of domestic climate policy. UK Department for Environment, Food and Rural Affairs as the main department responsible for climate policy, were launched national programs to address climate change in 2000 and twice in 2006, and since 2007, to submit annual reports to assess and report annually to Congress on Climate Change policy implementation and effectiveness.According to the latest annual report of the July 17, 2008 release, the total carbon dioxide emissions from the United Kingdom in 2007 was 543.7 million tons, compared to emissions in 2006, reducing the 2%; relative reduction 13% in 1990; expected 2010 15.5% reduction can do this the first time in 2007 than the annual report is expected to be done to reduce emissions 18%, it seems that the situation is not optimistic. Although 20 percent of emissions from domestic objectives there is a gap, but the completion of the amount still exceeded its statutory obligations, visible emissions problem on British attitudes are more positive.The Guardian2007-03-27For the greenhouse effect, in November 2000 the British issued a "Climate Change Plan", stated to reach all types of industry, "Kyoto Protocol" other emission reduction targets, is scheduled to start from April 2001 climate change levy tax. As of the end of March 2001, the British government (including the environment, transport and local government) and 40 industry groups signed a "climate change levy agreement" (Climlate Change Agreement). Agreement, the industry may choose to cap emissions manner or mode of production of individual units set protocol targets, the government then set a target to reduce the industry on the basis of 20% to 80% of the climate change levy. If no agreement is reached after 2 years reduction targets are, you can not continue to enjoy tax preferential treatment.Faced with diverse and complicated environmental issues, the British government and the industry as early as 1972 began to adopt environmental agreements as a means of environmental policy. At first, the British government in waste treatment countermeasure has warned that if the voluntary program was unable to reach a satisfactory established goals, the Act will take control. In recent years, the United Kingdom when modifying the provisions of the Finance Act, from April 2001 to levy taxes to climate change and to take the government and the energy consumption of industrial environmental agreements signed ways to improve energy efficiency and reduce emissions by up to give businesses mitigate 80 % discount panies are obliged to use energy information, reports production numbers to the Ministry of Environment. Ministry of Environment can appoint an independent supervisor (usually non-governmental organizations) in check, if the goal is to complete the identification card issued by the tax authorities with the identification certificate automatically concessions. While the above enterprise environmental agreements signed between the Government and the taxes associated with the content, is a legal agreement, but the government and the industry never will be as voluntary agreements,as "a gentleman agreement" on the nature of the non-binding law force.De finition of market failureMarket failures have negative effects on the economy because an optimal allocation of resources is not attained. In other words, the social costs of producing the good or service (all of the opportunity costs of the input resources used in its creation) are not minimized, and this results in a waste of some resources.Take, for example, the common argument against minimum wage laws. Minimum wage laws set wages above the going market-clearing wage in an attempt to raise market wages. Critics argue that this higher wage cost will cause employers to hire fewer minimum-wage employees than before the law was implemented. As a result, more minimum wage workers are left unemployed, creating a social cost and resulting in market failure.British "environmental policy" InterpretationClimate Change and Energy: Climate change is the greatest environmental challenge facing the world today, the 2006 UK Climate Change Programme is the UK Government on tackling climate change work's core strategy, which describes the British government policies and measures to reduce greenhouse gas emissions, Meanwhile describes how the British prepared to adapt to climate change impacts. March 2007, the draft law on climate change Britain began public comment. To encourage companies to find cost-effective emission reduction and coping measures, the British government has taken measures to climate change levy and implement an emissions trading system and so on, and funded the establishment of Carbon Trust and the Energy Saving Trust two institutions, enterprises and the public to provide relevant advice and services.。
HND项目专业课程设置一览表
HND项目专业课程设置一览表中文名称学分英文名称Busin ess Law: An In troducti on 商法导论 1Bus in ess Con tractual商务契约关系 1 Relati on shipsBus in ess Acco un ti ng 商务会计 2Economic Issues: Anintroduction 经济学导论 1Man agi ng People and人力和组织管理 2 Orga ni sati onsCommuni cati on: An alys ing andPrese nting Complex 商务沟通技巧 1Communi cati onIntern ati onal Market ing: An国际营销导论 1 in troducti onIn ternati on al Market ing: The Mix 国际市场组合 1in formati on and Communi cati on商务信息与通讯技术 2 Tech no logy in Bus in essBus in ess Culture and Strategy 商务文化与策略 2Global Trade and Bus in ess:记分单元1 1 Graded Unit 11Econo mics 1: Micro and Macro经济学I :微观与宏观理论及其应用 经济学U :世界经济 1 财政预算 1 国际惯例 1 出口援助资源 1 出口 2 财务报表分析 2 国际物流2 国际商业组织2Theory and Applicati onEcono mics 2: The World Economy Prepari ng Finan cial Forecasts Intern ati onal In stituti ons Sources of Export Assista nee Export ingFinancial Reporting and Analysis Intern ati onal LogisticsGlobal Bus in ess Orga ni sati onsGlobal Trade and Bus in ess:记分单元2 2Graded un it 21国际理财Finan cial Services课程设置英文名称Busin ess Acco untingBusin ess Law: An In troducti onCommuni cati on: An alys ing andPrese nting Complex Communi cati onCreati ng a Culture of CustomerCareEcono mic Issues: AnIn troducti onFinan cial Sector: AnIn troducti onIn formati on Tech no logy: Applicati ons Software 1 Man agi ng People and Orga ni sati onsMarket ing: An In troducti on中文名称学分商务会计 2 商法导论 1商务沟通技巧 1 客户服务文化构建 1 经济学导论 1 金融业导论 1信息技术应用软件1 I人力和组织管理 2 市场学导论1Personal Finan cial Services 个人理财服务保险原理 1记分单元1 1经济学U :世界经1济国际贸易融资2 金融服务业规范 1所得税1信息技术应用软件1n投资学 2 养老金规划 2 个人和商业信贷 2 财政预算1记分单元2 1记分单元31Prin ciples of In sura nee Finan cial Services: Group AwardGraded Unit 1Econo mics 2: The World EconomyFinancing Intern ati onal Trade Finan cial Services Regulatory Framework In come TaxIn formati on Tech no logy: Applicati ons Software 2 In vestme nt Pension Provisi onPersonal and Commercial Lending Prepari ng Finan cial Forecasts Finan cial Services: Group Award Graded Unit 2Finan cial Services: Group AwardGraded Un it 3。
HND经济学导论OUTCOME3_共2页
Market Failure and Government PolicySCN: 177099996GTB4Li WenxuanTutor: Lou QiuyinNovember 6 , 2016thContent 1.0 introduction2.0 Market Failure2.1 Merit Goods2.2 Public Goods2.3 Imperfect Competition2.4 Externalities3.0 Welfare Policy3.1 Some important welfare3.1.1 child benefits3.2 Case of welfare3.3 Instrument4.0 ConclusionReference1.0 IntroductionEconomy is human activity that consists in producing exchanging, distributing, and consuming goods and services, studied by economics and realized inside on. In this report, discussing the reasons for market failure and probe government roles in relation to each of the following and government policy.2.0 Market FailureThe market is a set of buyers and sellers with the potential to trade with each other. But when the market cannot distribution goods and labor efficiency that is market failure.2.1 Merit goodsMerit goods are products whose consumption or production creates social benefits that exceed the private benefit. Just like education, healthcare, public transport. Because many people cannot know anything the advantages, so the government should intervene people choice. Government can get to make a law. For Chinese, have ‘Nine-year compulsor y education law’. That can help people choose merit goods and benefits of people.2.2 Public GoodsPublic goods are ready for societal members enjoy the items together, strict sense of the public goods with non-competitive and non-exclusive. It is a public thing just like the Park bench or civil defense siren. Someone used it that do not hinder others use it. The government should build this goods, because do not have someone could even want to build build but the society need it. The government use tax to build and maintain it.2.3 Imperfect CompetitionImperfect competition is monopolistic competition and oligopoly. It is meant by perfect competition cannot maintain. Because have some buyers or sellers could affect the market price. The market cannot change the price. Because the imperfect competition will decrease the market efficiency. The government should change it to adjust a market to a new environment. For example make a law. Just likes Antitrust Law.2.4 ExternalitiesThe following sentences are from Wikipedia. In economics, an externality is the cost or benefit that affects a party who did not decide to incur that cost or benefit. Economists often urge all governments adopt policies that "internalize" an externality, so that costs and benefits will affect mainly parties who choose to incur them. Just like the pollution, government thinks who take this who should solve this. If there are external benefits, such as in communal safety, less of the good may be produced thanwould be the case if the producer were to receive payment for the external benefits to others. Thus, unregulated markets in goods or services with significant externalities generate prices that do not take into account the full social cost or benefit of their transactions; such markets are therefore inefficient. So government should make some laws or rules to standard it.3.0 WelfareThe UK as a long-term capitalist country. It is a long and perfect social welfare safeguard system. Society welfare including the benefits of family, child benefits, death and benefits etc.3.1 Some important welfare3.1.1 Child BenefitsThe child benefits in the UK, government ensures that every child can receive education and life even they do not have kinsfolks. From child to adult, government subsidies, aid, guarantee the smooth growth of children. The British government's children's welfare, both in terms of welfare, welfare content and service level, its integrity and comprehensiveness is exemplary. first of all, British children welfare legislation perfect, various kinds of laws and regulations, not only covers the grand, and established the principle of "children's welfare is the highest", for children's right to survival and development, such as participation rights protection are made a detailed regulations and emphasis. second, the completion of the "welfare state" for citizens "from cradle to grave tomb" comprehensive social security, the benefit of children mainly include: the national health insurance, children can enjoy besides dental surgery, visual acuity and glasses all free medical care. Family subsidy system, covering maternity benefits, birth allowance, children stick, Tianjin, children, child care allowance, single special allowance, etc.; Education funding, children receive primary and secondary school education for free, with free books, stationery, lunch at school; Social services, set up the children's home within the community, for too busy to take care of the child's family to provide help and received orphans and abandoned children, and is responsible for their life and education. Again, the whole society to found a multi-level, vertical and comprehensive child welfare system. This way is mainly under the government's macro management, association for the disabled, charitable organizations, social service machine structure, all kinds of schools and community organizations and groups, within their respective fields to carry out the child welfare services, formed a multi-level, three-dimensional type, a full range of child welfare services network. The British not only built up social relief, social insurance, social security, basic education, medical service content such as children's social welfare system, and children's rights in government policies, laws and institutions for medical treatment and teaching education practice of occupies more and more important position.3.2 Case of welfareIn the UK, child benefit is operated by Her Majesty's Revenue and Customs (HMRC). As of April 2015, This is £20.70 per week for the first child (including the eldest of a multiple birth) and £13.70 per week for each additional child.The system was also implemented in August 1946 as "family allowances" under the Family Allowances Act 1945, at a rate of 5s (= £0.25) per week per child in a family, except for the eldest. This was raised from September 1952, by the Family Allowances and National Insurance Act 1952, to 8s (= £0.40), and from October 1956, by the Family Allowances Act and National Insurance Act 1956, to 8s for the second child with 10s (= £0.50) for the third and subsequent children.By 1955, some 5,000,000 allowances were being paid, to about 3,250,000 families.It was revised in 1977, with the payments being termed "child benefit" and given for the eldest child as well as the younger ones; by 1979 it was worth £4 per child per week. In 1991, the system was further altered, with a higher payment now gave the first child than for their younger siblings. In October 2010, the Conservative-Liberal Democrat coalition government announced that Child Benefit would be cancelled from households containing a higher-rate taxpayer from January 2013.After some controversy this was amended so that any householder with a least one person with prescribed income over £50,000 would lose Child Benefit by a taper which removed it altogether when the income reached £60,000. This came into force on 7 January 2013.3.3 InstrumentIn the UK, child benefit is administered by Her Majesty's Revenue and Customs (HMRC)4.0 ConclusionOver the years, the welfare policy help stabilize the social order, ensure the people's living standards, the general improvement of social material and cultural level. Close the gap between the rich and the poor area, ease social contradictions in all walks of life. However,, at the same time, the years of high welfare, let government deficitcontinue to increase, and weakening the enthusiasm of people to work, make social efficiency is low, and the resulting a series of struggle between the parties.ReferenceExternalities https:///wiki/Externality Buchanan, James; Wm. Craig Stubblebine (November 1962). "Externality". Economical. 29 (116): 371–384. doi:10.2307/2551386Case of welfare，https:///wiki/Child_benefit，Https:///government/publications/tax-and-tax-credit-rates-and-thresholds- for-2015-16/tax-and-tax-credit-rates-and-thresholds-for-2015-16#child-benefit-and- guardians-allowanceJump up ^ Whitaker's Almanack: For the year 1958, p. 1127. J. Whitaker & Sons, London, 1957Jump up ^ "Spending Review, October 2010, United Kingdom HM Treasury, Oct 2010. Jump up ^ "HMRC High Income Child Benefit chargeRedo:3.1.1 Child Benefits. No matter how much you earn or how much insurance you pay, you are eligible for Child Benefit as long as you have a duty to caring for the child. Benefits apply to children under 16 years of age and are eligible if children aged 16 to 18 are still enrolled in non-tertiary institutions.How to Apply: Request by the hospital or the Social Security Office.British university before the stage of education is free, university stage, 90% of college students are eligible for government subsidies. Therefore, for low-income families, from kindergarten to university education is a loose way.。
(完整word版)HND经济学导论OUTCOME3
Market Failure and Government PolicySCN: 177099996GTB4Li WenxuanTutor: Lou QiuyinNovember 6th, 2016Content 1.0 introduction2.0 Market Failure2.1 Merit Goods2.2 Public Goods2.3 Imperfect Competition2.4 Externalities3.0 Welfare Policy3.1 Some important welfare3.1.1 child benefits3.2 Case of welfare3.3 Instrument4.0 ConclusionReference1.0 IntroductionEconomy is human activity that consists in producing exchanging, distributing, and consuming goods and services, studied by economics and realized inside on. In this report, discussing the reasons for market failure and probe government roles in relation to each of the following and government policy.2.0 Market FailureThe market is a set of buyers and sellers with the potential to trade with each other. But when the market cannot distribution goods and labor efficiency that is market failure.2.1 Merit goodsMerit goods are products whose consumption or production creates social benefits that exceed the private benefit. Just like education, healthcare, public transport. Because many people cannot know anything the advantages, so the government should intervene people choice. Government can get to make a law. For Chinese, have ‘Nine-year compulsory education law’. That can help people choose merit goods and benefits of people.2.2 Public GoodsPublic goods are ready for societal members enjoy the items together, strict sense of the public goods with non-competitive and non-exclusive. It is a public thing just like the Park bench or civil defense siren. Someone used it that do not hinder others use it. The government should build this goods, because do not have someone could even want to build build but the society need it. The government use tax to build and maintain it.2.3 Imperfect CompetitionImperfect competition is monopolistic competition and oligopoly. It is meant by perfect competition cannot maintain. Because have some buyers or sellers could affect the market price. The market cannot change the price. Because the imperfect competition will decrease the market efficiency. The government should change it to adjust a market to a new environment. For example make a law. Just likes Antitrust Law.2.4 ExternalitiesThe following sentences are from Wikipedia. In economics, an externality is the cost or benefit that affects a party who did not decide to incur that cost or benefit. Economists often urge all governments adopt policies that "internalize" an externality, so that costs and benefits will affect mainly parties who choose to incur them. Just like the pollution, government thinks who take this who should solve this. If there are external benefits, such as in communal safety, less of the good may be produced thanwould be the case if the producer were to receive payment for the external benefits to others. Thus, unregulated markets in goods or services with significant externalities generate prices that do not take into account the full social cost or benefit of their transactions; such markets are therefore inefficient. So government should make some laws or rules to standard it.3.0 WelfareThe UK as a long-term capitalist country. It is a long and perfect social welfare safeguard system. Society welfare including the benefits of family, child benefits, death and benefits etc.3.1 Some important welfare3.1.1 Child BenefitsThe child benefits in the UK, government ensures that every child can receive education and life even they do not have kinsfolks. From child to adult, government subsidies, aid, guarantee the smooth growth of children. The British government's children's welfare, both in terms of welfare, welfare content and service level, its integrity and comprehensiveness is exemplary. first of all, British children welfare legislation perfect, various kinds of laws and regulations, not only covers the grand, and established the principle of "children's welfare is the highest", for children's right to survival and development, such as participation rights protection are made a detailed regulations and emphasis. second, the completion of the "welfare state" for citizens "from cradle to grave tomb" comprehensive social security, the benefit of children mainly include: the national health insurance, children can enjoy besides dental surgery, visual acuity and glasses all free medical care. Family subsidy system, covering maternity benefits, birth allowance, children stick, Tianjin, children, child care allowance, single special allowance, etc.; Education funding, children receive primary and secondary school education for free, with free books, stationery, lunch at school; Social services, set up the children's home within the community, for too busy to take care of the child's family to provide help and received orphans and abandoned children, and is responsible for their life and education. Again, the whole society to found a multi-level, vertical and comprehensive child welfare system. This way is mainly under the government's macro management, association for the disabled, charitable organizations, social service machine structure, all kinds of schools and community organizations and groups, within their respective fields to carry out the child welfare services, formed a multi-level, three-dimensional type, a full range of child welfare services network. The British not only built up social relief, social insurance, social security, basic education, medical service content such as children's social welfare system, and children's rights in government policies, laws and institutions for medical treatment and teaching education practice of occupies more and more important position.3.2 Case of welfareIn the UK, child benefit is operated by Her Majesty's Revenue and Customs (HMRC).As of April 2015, This is £20.70 per week for the first child (including the eldest of a multiple birth) and £13.70 per week for each additional child.The system was also implemented in August 1946 as "family allowances" under the Family Allowances Act 1945, at a rate of 5s (= £0.25) per week per child in a family, except for the eldest. This was raised from September 1952, by the Family Allowances and National Insurance Act 1952, to 8s (= £0.40), and from October 1956, by the Family Allowances Act and National Insurance Act 1956, to 8s for the second child with 10s (= £0.50) for the third and subsequent children.By 1955, some 5,000,000 allowances were being paid, to about 3,250,000 families.It was revised in 1977, with the payments being termed "child benefit" and given for the eldest child as well as the younger ones; by 1979 it was worth £4 per child per week. In 1991, the system was further altered, with a higher payment now gave the first child than for their younger siblings. In October 2010, the Conservative-Liberal Democrat coalition government announced that Child Benefit would be cancelled from households containing a higher-rate taxpayer from January 2013.After some controversy this was amended so that any householder with a least one person with prescribed income over £50,000 would lose Child Benefit by a taper which removed it altogether when the income reached £60,000. This came into force on 7 January 2013.3.3 InstrumentIn the UK, child benefit is administered by Her Majesty's Revenue and Customs (HMRC)4.0 ConclusionOver the years, the welfare policy help stabilize the social order, ensure the people's living standards, the general improvement of social material and cultural level. Close the gap between the rich and the poor area, ease social contradictions in all walks of life. However,, at the same time, the years of high welfare, let government deficit continue to increase, and weakening the enthusiasm of people to work, make socialefficiency is low, and the resulting a series of struggle between the parties.ReferenceExternalities https:///wiki/Externality Buchanan, James; Wm. Craig Stubblebine (November 1962). "Externality". Economical. 29 (116): 371–384. doi:10.2307/2551386Case of welfare，https:///wiki/Child_benefit，Https:///government/publications/tax-and-tax-credit-rates-and-thresholds-for-2015-16/tax-and-tax-credit-rates-and-thresholds-for-2015-16#child-benefit-and-guardians-allowanceJump up ^ Whitaker's Almanack: For the year 1958, p. 1127. J. Whitaker & Sons, London, 1957Jump up ^ "Spending Review, October 2010, United Kingdom HM Treasury, Oct 2010. Jump up ^ "HMRC High Income Child Benefit chargeRedo:3.1.1 Child Benefits. No matter how much you earn or how much insurance you pay, you are eligible for Child Benefit as long as you have a duty to caring for the child. Benefits apply to children under 16 years of age and are eligible if children aged 16 to 18 are still enrolled in non-tertiary institutions.How to Apply: Request by the hospital or the Social Security Office.British university before the stage of education is free, university stage, 90% of college students are eligible for government subsidies. Therefore, for low-income families, from kindergarten to university education is a loose way.。
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Economic Issues: An IntroductionF7J8 34Outcome 3Candidate Name:Grade and Class:Content1.0 Introduction -------------------------------------------------------------------12.0 Market Failure ----------------------------------------------------------------13.0 Welfare policy ----------------------------------------------------------------34.0 Conclusion --------------------------------------------------------------------45.0 Reference ----------------------------------------------------------------------51.0 IntroductionThis outcome introduce the role of the government in managing the economy of the United Kingdom.And how to identify market failure and their specific forms of expression.Besides,how the government could attempt to correct these market failure and know the policy measures of the government.2.0 Market FailureMarket Failure is a situation in which the allocation of goods and services is not efficient.2.1 The performance of Market FailureThere are four forms of expression in Market Failurei.To provide public goodsTheses are commodities, which would not be provided by the private sector because they would find that many people, even if they benefited from them. And they had right to refuse to pay.So there are very few people who provide public goods, because on the one hand it is technically impossible, on the other hand the cost of public goods is greater than the benefits.And the public goods are the products that the whole society must consume, so the lack of public goods and social members and economic development will be contradictory.So this situation will lead to market failure.ii.The existence of imperfect marketsIn the free market,little or no competition,for example,where a monopoly exists.This occurs when there is a single supplier,or a fewer very dominant suppliers,in a market.This is the imperfect markets.In this case there is a monopoly.The emergence of market monopoly means that monopoly companies are free to price commodities and impose repressive measures on some new competitors.In this way, there is no competition between companies, technology cannot be improved, and the industry cannot develop.In this way, prices and supply and demand cannot be regulated by themarket.iii.The existence of externalitiesAn externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account.There are negative externalities and positive externalities.Positive externality is that the activities of an individual economic behavior benefit others or the society, and the beneficiaries do not need to pay the cost. Negative externality is that the activities of an individual economic behavior damage others or the society, while the people who cause external uneconomy do not bear the cost.In free market,where oneperson’s/firms actions leads to costs falling on other groups without there being any compensation paid thus an external/social cost has been generated.For example,the random discharge of waste water from factories is harmful to the water quality of rivers and even endangers people's health.iv.To provide merit goodsMerit goods are better for a person than then person who may consume the good realizes.For example,health services and education are merit goods.For merit goods,consumers sometimes do not perceive quite how good a particular kind of good if for them:either they do not have the right information or lack relevant information.A merit good is a good that is better for a person than the person who may consume the good realizes.The result is that ,a merit good would beunder-consumed and under-produced in the free market economy.2.2 The Government PolicyTo overcome market failure,the government make some policies and use some instruments.The government utilize three main economic policy instruments.These are respectively Fiscal policy,Monetary policy and Supply-side policies.And the government also made some instruments.(1)Government ExpenditureAs for public and merit goods,a way of influencing the economy and achieving the economic objectives is through the use of government spending.For example,current spending,ongoing spending on goods and services.It pays the salaries and wages of staff and covers the say(2)TaxationTaxation represent one of the simplest means of collecting revenue open to the Government.And taxation is an effective way to solve the negative externalities.For example,the pollutant discharged by the factory in production is a negative externality.The government can issue emission standards to factories. If the factory's pollution emission exceeds the standard, the government can increase the tax to punish it(3)LegislationIn order to deal with the monopoly phenomenon in the market, the British government has promulgated the relevant anti-monopoly law.For example,the UK government mainly relies on the competition act of 1988 and the enterprise act of 2002. The former has set up the competition commission, which is an anti-monopoly and unfair competition institution, which takes reasonable and feasible plans to maintain the normal operation of the market based on the interests of consumers. The latter upgraded the office of fair trading under the office of fair trading to an independent body corporate with independent legal personality and power.3.0 Welfare policy--PensionWelfare policy is creating a socially inclusive society that welcomes contributions from all minority groups.The British government has established pension for those who have retired from work due to old age and are unable to work after the secondworld war.3.1 The instrument of Pension policy(1)LegislationAfter world war ii, Britain, based on beveridge's report, adopted the national insurance act (1946), the state aid act (1948) and other laws to cover all aspects of citizens' life with social security, and established the "cradle-to-grave" welfare state system model.(2)TaxationThe individual pension plan is a pension plan designed and provided for individual choice by insurance institutions and other financial institutions. The system of individual accumulation is implemented completely, and the government gives a tax return of up to 7.8%.(3)Government spendingIn order to solve the source of pension insurance, the British government will pay the basic pension insurance with fiscal revenue every year.In fiscal year 2011/2012, the total expenditure on basic pension was 58.095 billion pounds, accounting for 80% of the total expenditure on pension, and the total expenditure on auxiliary pension was 16.125 billion pounds, accounting for 20% of the total expenditure on pension.3.2 Reasoned evaluationPrivate pensions are the biggest source of domestic funding in Britain's capital markets.At the end of 2008, insurance companies and pension funds were listed as the top two domestic investors in the UK stock market respectively, with the shareholding value accounting for 13.4% and 12.8% of the total market value respectively.In 2009, for example, out of the total assets of 1.9 trillion pounds of private pension in the UK, the scale of personal pension managed by insurance companies reached 0.87 trillionpounds.If pension funds in the insurance investment are taken into account, private pension will become the largest domestic fund provider in the UK capital market.In recent years, due to the increasingly serious aging of the population and the increasing financial burden of the government, the British pension system is facing great pressure and challenges.In 2010, for the first time in recent years, the UK's national basic pension fund failed to make ends meet.According to the relevant financial report, the expenditure reached 80.5 billion pounds in that year, while the income was 75.9 billion pounds, and the annual fund balance was also reduced accordingly.With the aggravation of aging, under the current policy, it is difficult to improve the situation that the national basic pension income does not cover the expenditure in the short term.4.0 ConclusionThis article reported the performance of market failure had a bad influence on market economy.To solve these problems,the government made the adaptive policy and use some economic instruments.And the article also introduce the welfare of endowment insurance and its advantage and disadvantage.5.0 ReferenceSQA (2013) / Economic Issues:An introduction (three edition) / Beijing / China Modern Economic Publishing House / 2018,12,31 / Page: 186SQA (2013) / Economic Issues:An introduction (three edition) / Beijing / China Modern Economic Publishing House / 2018,12,31 / Page: 190SQA (2013) / Economic Issues:An introduction (three edition) / Beijing / China Modern Economic Publishing House / 2018,12,31 / Page: 199https:///money/article/7QACMETO00253B0H.html#adaptation=pc /c/2017-09-18/1220508.shtml。