萨尔瓦多国际经济学试卷 英文
FACULTY OF BUSINESS & LAW
LEEDS BUSINESS SCHOOL SEMESTER 1 FINAL Examination – 2014/15
MODULE TITLE: Economics of International Trade
COURSE(S):
DATE OF EXAMINATION: Semester 1
START TIME:
FINISH TIME:
VENUE:
EXAMINER(S): Emily Tebbs-Ogutu& Milton Yago
MAITF 00:00 am 00:00 am
INSTRUCTIONS: The examination must be completed in THREE HOURS. You must answer all components of the four essay questions in total from the three sections below. Each question is weighted equally; therefore you are advised to distribute your time approximately equally over the four questions. The examiners wish to see evidence of your ability to use technical models and of your ability to critically discus their mechanisms and applications.
Guide on Answering Essay Style Exam Question
Please give detail answers following this format as much as possible:
a. Provide definition of term/model in the question
b. Mention the underlining assumptions in the model(s) c. Address the question asked
d. If the question include(s) graph(s), explain/define and interpret the graph(s)
e. Refer to the limitations of the model (strengthen and/or weaknesses) either by comparing or contrasting.
f. Application: country(ies) case(s) or situations
Section A:
You must answer QUESTION ONE
Section B:
You must answer ONEQUESTION
Section C:
You must answer TWOQUESTIONS
Section A:
YOU MUST ANSWER QUESTION ONE.
1.
a) Use Partial Equilibrium Analysis to determine the Equilibrium-Relative Commodity Price with Trade. (10 points)
b) Explain and analyse the process in the derivation of the nations’ offer curve.(15 points)
Section B:
ANSWER ONLY ONE QUESTION IN THIS SECTION.
2. Evaluate critically two of the four approaches used to correct disequilibrium in the balance of payments.
a. The elasticities approach
b. The absorption approach
c. The monetary approach
d. The portfolio balance or asset market approach
3. Explain the four types or stages of economic integration. Under what circumstances can nation gain increased welfare as a member of a customs union?
Section C:
ANSWER ONLY TWO QUESTIONS IN THIS SECTION. 4. a) Explain at least THREE of the New and Advanced Trade Theories. (15 points)
b) Explain two of the five justifiable arguments in favour of Trade Protection? (10 points)
5.
a) Use both General Equilibrium and Partial Equilibrium analyses to explain the effects of a tariff in a small country case taking into consideration the seven effects of tariff. (20 points)
b) Are the effects of tariff the same for both small and large nations? (5 points)
6.
a) Analyse how Policy Mix and the Principle of Effective Market Classification addresses the issue of Internal and External Balance in an open economy.(15 points)
b) Indicate the types of fiscal and monetary policies required to reach point F for points C3, C6, C9& C12 (10 points)