Building a Student Parking Garage

This research examines the economic efficiency of building a parking garage to serve student parking needs at the California State University, Northridge. The concept of economic efficiency may be defined in a number of ways, depending upon the focus of inquiry.

Each of the ways in which economic efficiency is discussed. Further, an explanation of how the economic efficiency of the proposed parking garage to serve student parking needs would be assessed is provided along with the discussion and explanation of each of the ways in which economic efficiency may be determined.

Economic Efficiency Within the Context of General Welfare

Within the context of general economic welfare, an economic alternative or initiative is said to be efficient if, through its implementation, someone can be made better off while no one is made worse off as a consequence. Within the context of a proposed parking garage to serve student parking needs, the test of economic efficiency would be based on a determination of whether students would be better off with a parking garage while not other stakeholders were penalized as a result of building the garage.

Economic Efficiency Within the Context of the Production Possibilities Curve

Within the context of the production possibilities curve (PPC), economic efficiency is assessed within the context of tradeoffs involved in the use of availabl

. . .
eturn is the discount, or interest, rate that would cause the net present value of a project to equal zero. The internal rate of return method may be used in two ways. First, a minimum internal rate of return may be required before a project may be accepted. Second, the internal rates of returns for two or more proposed projects may be compared. In the latter instance, projects with the highest internal rates of return are typically selected. With respect to the proposed parking garage to serve student parking needs, the California State University, Northridge administration would determine the minimum rate of return that would be required for the project. All of the projected costs and projected revenues that would be associated with the project would be determined for the projected life of the proposed parking garage. These costs and revenues then would be discounted by the required rate of return. If the discounted costs and revenues zero-out or provide a positive balance over the projected life of the parking garage, the proposed parking garage project would be said to be economically efficient. The NPV Method The net present value of an investment is defined as the difference between the capital cost of an investmen
. . .

Some common words found in the essay are:
Cost Economic, University Northridge, Application NPV, IRR Method, Possibilities Curve, Context Welfare, NPV Method, Students' Perspective, Return Investment, economic efficiency, parking garage, NORTHRIDGE Introduction, marginal cost, proposed parking garage, proposed parking, student parking, garage serve student, serve student, garage serve, serve student parking, parking garage serve, marginal revenue, rate return, california university northridge, university northridge,
Approximate Word count = 1258
Approximate Pages = 5 (250 words per page)

More Essays on Building a Student Parking Garage