https://www.um.edu.mt/library/oar/handle/123456789/12013 Sat, 04 Apr 2026 18:35:13 GMT 2026-04-04T18:35:13Z https://www.um.edu.mt/library/oar/handle/123456789/103780 Title: The effect of air pollution on property prices in Malta : a hedonic analysis Abstract: Many of the environmental goods we are exposed to are not traded in the market, and their price is not known, thereby imposing severe repercussions on private decisions, making the gap between private and social costs of the environment grow even further. In this dissertation, evidence is presented that Nitrogen Dioxide does have an affect on the value of property prices in Malta. Much publicity has been given to the safeguarding of our air quality and environment but how much is effectively being done about it? Air pollution is becoming a core factor in housing prices and Hedonic Models. More often than not the results seem to be uncertain, and most of the studies carried out to assess the impact of the quality of the environment on house prices were done in the United States; however literature shows that the importance given to air pollution differs considerably in Europe. Air pollution, such as that caused by Nitrogen Dioxide, doesn’t only affect house prices, but it also has spillover effects which can lead to respiratory problems and other health problems. Description: B.COM.(HONS)ECONOMICS Fri, 01 Jan 2016 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/103780 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/103779 Title: Is an economy complex or just complicated? Abstract: The study introduces concepts of Complexity Science and Agent Based Modelling as a viable methodology in the study of economic phenomena. The qualitatively dynamic nature of an economy is singled out as a key phenomenon to be investigated. A new model, the Active-Passive Agent Based Model is then built from scratch upon a series of axiomatic statements to construct an artificial economy allowing people and goods to interact. A simulation run of twenty iterations involving 27 agents and 100 goods is computed manually. The result of the simulation run fails to result in persistent qualitative dynamics in the artificial economy but the Active-Passive Agent Based Model is nevertheless shown to be a valuable contribution worth developing further Description: B.COM.(HONS)ECONOMICS Fri, 01 Jan 2016 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/103779 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/100818 Title: Maximising internal controls & managing risks within a government finance department : account-ministry for finance Abstract: The main purpose of this study is to understand better to which extent internal controls & risk management are being implemented in the Corporate Services Directorate, Accounts Section, Ministry for Finance. The main objectives of this study are: Identify why internal controls & risk management are important, what is to be accomplished by their implementation & what should be done in order to maximise controls & manage risks; Getting a good picture of the current situation in other accounts government sections to tackle the public service risk analysis; Assess the level of awareness by headship positions of the Ministry for Finance with respect to Risk Management & control concepts by interviewing them & analyse the daily operations; Using the main findings to compile a sample risk register to be implemented & adjusted according to the needs of the accounts section. The main data sources consisted of qualitative type data collection i.e. structured interviews conducted at the Accounts Section, MFIN. I acquired feedback of what's going on, what are their perspectives about the subject & what situations the department is currently facing. I also did documentation analysis from NAO Audit Reports, international publications, local journals, articles and other online material and related subject books. The final stage of this study includes a number of recommendations in order to help strengthen control functions & implement them according to the relevant circulars & regulations, and above all help improve the current situation with respect to Risk Management & control in the Accounts Section. The main conclusions derived showed that risk management is still in its infancy phases. Government Departments suffer from lack of resources which was even felt in this department. This is a limiting factor to the adoption of a complete strategic approach to risk management, however things are on the right track. The importance of having more training courses which cater the status of risk management in a government finance department is continuously being emphasised in order to be more aware on the development of risk management competence. The ultimate responsibility for implementing risk assessments rests on the management of the department. Description: H.DIP.ACCTY.&FIN. Fri, 01 Jan 2016 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/100818 2016-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/100815 Title: Introducing performance budgeting methodology within the Maltese public sector Abstract: PURPOSE: The study analysis the need of Government to alter or shift from the current line-item budgetary approach. The issue investigated is to whether adapting performance budgeting reform would induce revolutionary changes in the rigid budgetary process being applied in Malta thus attaining key sustainability issues required to enhance desired economic progress, greater fiscal discipline, more informed budgetary decisions to enhance transparency and accountability. DESIGN: These objectives have been achieved through an intense research by conducting questionnaires throughout the Ministries involving Director Generals, Directors Corporate Services, Public Officers at the Budget Office and Financial Controllers. FINDINGS: Despite literature criticism with regards to budgeting, this study reveals that the majority of the respondents still perceive budgeting as a very worthwhile exercise. Although other tools might compliment the budgeting process these are not considered as its substitutes as the main belief is to improve current system rather than abandoning it in favour of other approaches. CONCLUSION: Criticism and/or failure to adopt new performance budgeting approaches are not necessarily attributable to a system failure but depend on the suitability of the budgeting approach being implemented within the complexity of various socio/economic elements. Respondents agree that current budgeting system needs to be upgraded gradually into a system focusing on an effective cost calculation and valid measure of costing for inputs and outputs for outcomes. However such is attainable through willingness of all stakeholders and those at the helm of Government to implement a gradual change in culture and mentality. VALUE: It is aimed to encourage further research to shed more light of weaknesses of traditional budgeting systems and to induce change to acquire greatest benefits from innovative approaches vital to move away from rigid budgeting processes. Description: H.DIP.ACCTY.&FIN. Fri, 01 Jan 2016 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/100815 2016-01-01T00:00:00Z