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This thesis project provides a thorough cost-benefit analysis of the golf industry in Arizona. We begin by examining the economic, environmental, and social costs that the industry requires. One of the largest costs of the industry is water consumption. Golf courses in Arizona are currently finding ways to reduce water

This thesis project provides a thorough cost-benefit analysis of the golf industry in Arizona. We begin by examining the economic, environmental, and social costs that the industry requires. One of the largest costs of the industry is water consumption. Golf courses in Arizona are currently finding ways to reduce water consumption through various methods, such as turf reduction and increasing the usage of drip irrigation. However, even at current levels of consumption, golf only consumes 1.9% of water in Arizona, compared to the 69% consumed by agriculture. Of the water consumed by the golf industry, 26.3% is wastewater, otherwise known as effluent water. Since the population in Arizona is projected to grow significantly over the next decade, the amount of effluent water produced will also increase. Due to this, we recommend that the golf industry move towards using as much effluent water as possible to conserve clean water sources. Additionally, we examine land allocation and agricultural tradeoffs to the state. Most golf courses are built in urban areas that would not be suitable for agriculture. The same land could be used to build a public park, but this would not provide as many economic benefits to the state. Many courses also act as floodplains which protect the communities surrounding them from flooding. These floodplains have proven to be crucial to protect from occasional flash floods by diverting the excess water away from homes. We also discuss golf's primary social cost in terms of its perception as being a sport played exclusively by privileged and wealthy people. This is proven to be false due to many non-profit organizations centered around the game, as well as municipal courses that provide affordable options for all citizens who want to play. We provide an in-depth analysis of the benefits that the industry provides to the state and its citizens primarily through business and tax revenue, employment, and property values. Including multiplier effects, the golf industry contributed 42,000 full- and part-time jobs, $3.9 billion in sales, $1.5 billion in labor income, and $2.1 billion value added in 2014. An estimated $72 million in state and local taxes were generated from golf facilities alone, without including taxes from indirectly impacted businesses. This tax revenue provides a great benefit to the public sector and increases Arizona's GDP. Also, much of this economic contribution is from the golf tourism industry, which brings new revenue into the state that would otherwise not exist. Golf courses also increase the surrounding real estate prices anywhere from 4.8% to 28%, providing a positive externality to community members in addition to scenic views. Finally, we provide a case study of the Waste Management Phoenix Open (WMO) to illustrate the impact of Arizona's single largest golf event each year. In 2017, the event brought an estimated $389 million into Arizona's economy in one week alone. Also, it regularly hosts massive crowds with a record-breaking 719,179 people attending the event in 2018. The WMO has also taken a "Zero Waste Challenge" to promote eco-friendly and sustainable practices by diverting all of the waste and materials produced by the tournament from landfills. The WMO has been dubbed both the "Greatest Show On Grass" and the "Greenest Show On Grass" due to the entertainment value provided as well as its effort to improve the environment.
ContributorsShershenovich, Andrew (Co-author) / Wilhelm, Spencer (Co-author) / Goegan, Brian (Thesis director) / Van Poucke, Rory (Committee member) / Department of Finance (Contributor) / W.P. Carey School of Business (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
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For my thesis, I chose to write a children’s book on financial education. The purpose of the book is to introduce financial terms such as savings, loans, and opportunity cost into a child’s life. The goal of the book is to inspire young individuals to start having open discussions about

For my thesis, I chose to write a children’s book on financial education. The purpose of the book is to introduce financial terms such as savings, loans, and opportunity cost into a child’s life. The goal of the book is to inspire young individuals to start having open discussions about their finances and what these terms mean as well as how it applies to their daily lives.

The inspiration of the book came from my personal upbringing. I was born and raised in Mesa, Arizona, where I would see title loans businesses in every street corner. Many close family friends grew a dependency on these loans. As I grew older, I became aware of the long-term effects these businesses had on these families and I became inspired to make a change.

My book is meant to introduce simple financial terms into a child’s life with the hopes that they will begin to converse with family and friends about these terms. My book specifically incorporates the terms: loans, opportunity costs, savings, and affordability. These four topics were chosen through surveying a high school class by gathering information such as what they know, how much they know, and what they would like to learn more about. The intended audience would be students reading at a 3rd grade reading level. This grade level is ideal for my book based off information found on the Arizona Department of Education’s website. Final revisions were done with the help of my committee as well as through feedback received from children.

The book itself is 31 pages long with illustrations on every page. The illustrations consist of photographs and drawings. The drawings were purposely placed, roughly, and without color, on the photographs to symbolize the rough patches in life in yet a colorful world.

Proposition 1184 plays a major role in the future of my book. Proposition 1184 is
currently working its way through the Arizona legislature and would require all high school students to take a class on financial basics, replacing the current economics class requirement. I plan to continue working with Mesa Public Schools to get my book, or a similar project, incorporated into the Mesa Public Schools curriculum. I envision the book starting discussions related to financial topics which will in turn familiarize children with these terms’ definitions and begin the movement of financial education in Arizona.
ContributorsMorales, Irma Lucero (Author) / Desch, Tim (Thesis director) / Wolfe, Mindy (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description
As more countries move toward renewable energy sources, universal acceptance is only a matter of time. It is no longer a question of if, but of when. For now, these types of energy sources can be too expensive or too complex for the average homeowner to acquire. A considerable

As more countries move toward renewable energy sources, universal acceptance is only a matter of time. It is no longer a question of if, but of when. For now, these types of energy sources can be too expensive or too complex for the average homeowner to acquire. A considerable financial investment and logistical specifications are required. My goal for this project is to create an analysis that will convey the most efficient and cost-effective way to move to a solar energy system without sacrificing output. There are many factors that go into the most practical and efficient strategy. These may include: solar tax credits, subsidies, rebates, panel type, utility company, among others. I hope to create an analysis that will enable anyone interested in taking advantage of solar power. The process outlined here will permit subjects to determine the best option for them, based on personal preferences and other related mitigating factors.
ContributorsStanley, John Richard (Author) / Simonson, Mark (Thesis director) / Ikram, Atif (Committee member) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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Description
With aggregate background knowledge and best methodology practices from the literature review, this exploratory study seeks to further gather and advance knowledge on the subject of birthrate trends with respect to the economic conditions affecting the decisions to reproduce. The scope of the study particularly investigates the possible effects of

With aggregate background knowledge and best methodology practices from the literature review, this exploratory study seeks to further gather and advance knowledge on the subject of birthrate trends with respect to the economic conditions affecting the decisions to reproduce. The scope of the study particularly investigates the possible effects of the 2008 downturn of the economy and the concurring home mortgage crisis on birthrates in Arizona.
ContributorsGuseynov, Ruslan Saidovich (Author) / Fey, Richard (Thesis director) / Reesing, Amy (Committee member) / Hayford, Sarah (Committee member) / Barrett, The Honors College (Contributor) / T. Denny Sanford School of Social and Family Dynamics (Contributor) / Department of Finance (Contributor)
Created2013-05
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My thesis examines the burden of proof in eminent domain valuation proceedings in the state of Arizona. The thesis begins by going back and looking at the history of eminent domain in the United States. This includes identifying the authorities with the power to condemn land and the examining constitutional

My thesis examines the burden of proof in eminent domain valuation proceedings in the state of Arizona. The thesis begins by going back and looking at the history of eminent domain in the United States. This includes identifying the authorities with the power to condemn land and the examining constitutional amendment requiring the condemnor to pay the fair market value for the land it takes. From there, I look at the process of property value litigation and the potential combination of burden of proof on both the value of the land taken and severance damages. This is followed by an analysis of the current law in Arizona, and a comparison to the laws in the other 49 states to highlight trends throughout the nation. The thesis highlights the counterintuitive nature of the landowner bearing the burden of proving fair market value in Arizona while also pointing out that the majority of other states in the nation have similar laws. This law continues to exist despite a lack of historical precedent or justification, not only in Arizona, but also throughout the country. The thesis references different states' case law throughout and gives opinions of experts in this area of study. The final section examines the practical implications of the law as it exists in Arizona today. The law may continue to exist unopposed despite its counterintuitive nature, because it gives the defendant landowner's counsel the right to speak first and last in a trial and present their evidence first. This has the potential to offer an advantage large enough to justify an unwanted burden.
ContributorsRubinov, Daniel (Author) / Birnbaum, Gary (Thesis director) / Braselton, James (Committee member) / School of Accountancy (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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As temperatures increase across the United States, some populations are more at risk for heat-related death and illness than others. One of these at-risk demographics is mobile home and trailer park inhabitants, who are disproportionately represented among indoor heat-related deaths (Solís, “Heat, Health”). In this paper, we outline a cost-benefit

As temperatures increase across the United States, some populations are more at risk for heat-related death and illness than others. One of these at-risk demographics is mobile home and trailer park inhabitants, who are disproportionately represented among indoor heat-related deaths (Solís, “Heat, Health”). In this paper, we outline a cost-benefit analysis that was used to calculate the net present economic value of projects related to reducing heat burden on mobile home owners and parks in Maricopa County. We use this model to assess solutions developed by student teams under the Knowledge Exchange for Resilience’s Summer Heat Resilience Challenge. We find that one of the seven solutions has a positive net present value (NPV) even in the lowest effectiveness (10%), while three more solutions have a positive NPV in the mid-level (50%) effectiveness scenario, showcasing their economic viability.

ContributorsRobinson, Jacob (Author) / Solís, Patricia (Thesis director) / Markolf, Samuel (Committee member) / Department of Psychology (Contributor) / Department of Finance (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description

My Barrett Honors Thesis focuses on answering the question of whether a current owner of a single family home in Tempe, Arizona would receive an adequate return on investment (“ROI”) to justify adding an accessory dwelling unit (“ADU”) on their property for the purpose of generating rental income and capital

My Barrett Honors Thesis focuses on answering the question of whether a current owner of a single family home in Tempe, Arizona would receive an adequate return on investment (“ROI”) to justify adding an accessory dwelling unit (“ADU”) on their property for the purpose of generating rental income and capital appreciation. I focused my research on Tempe’s zoning regulations, ADU general contractor (“GC”) options, possible parcels, proposed construction plans and budget, and lastly, a pro forma to determine ROI. After conducting the research, discussing with several GCs, and modeling returns, I determined that unlevered ADU development constitutes a novelty, not a solid investment choice with today’s market conditions. Factors that would change this recommendation decision would include a decrease in interest rates or a tempering of construction costs.

ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
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Description
Homeownership is an essential part of the American Dream and one of the most important tools for anyone in the 21st century to build wealth. Unfortunately, the COVID-19 pandemic has introduced a level of uncertainty to a market that has been largely stable since the last recession. This has proven

Homeownership is an essential part of the American Dream and one of the most important tools for anyone in the 21st century to build wealth. Unfortunately, the COVID-19 pandemic has introduced a level of uncertainty to a market that has been largely stable since the last recession. This has proven to be a major roadblock affecting multiple generations of Americans in their quests to develop wealth. A particularly interesting case study through this crisis has been the housing market of Phoenix Arizona. When the challenges presented by the pandemic began to unfold, thousands of home listings and sales were canceled all the while newly unemployed Arizonians began to worry about meeting their mortgage payments. However, this disruption didn’t last long, several months after the beginning of the pandemic housing prices quickly began to swell. Many listings continue to be sold for tens of thousands of dollars above the asking price which has led investors to ask: how have Phoenix homes been able to seemingly ignore the economic downturn? Today we are living in the hottest housing market since early 2007, and many expert opinions on the state of the market conflict with one another. Some expect housing prices to crash, others believe this growth is sustainable. A complex web of interconnected financial and human systems has led us to the position we are in today and several important questions have been left unanswered. What forces have driven the market to such dramatic heights? Who have been the winners and losers in the Arizona housing market during the pandemic? And what can be expected to happen in the near future as the “new normal” served to us by COVID-19 unfolds? The purpose of this thesis is to explore these questions and identify the underlying factors that have created the current market conditions. It will begin with an analysis of relevant supply and demand factors, then move to identify groups of winners and losers, to finally develop a prescriptive outlook for challenges facing Phoenix’s housing market.
ContributorsEllerd, Wyatt (Author) / Sadusky, Brian (Thesis director) / Hoffman, David (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2022-05