LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A.

RF 43

DEGREE EXAMINATION –ECONOMICS

FIFTH SEMESTER – APRIL 2007

EC 5501 – INTERNATIONAL ECONOMICS

 

 

Date & Time: 28/04/2007 / 1:00 – 4:00          Dept. No.                                                     Max. : 100 Marks

 

 

Part  – A

 

Answer any FIVE questions in about 75 words each.                   (5 x 4 = 20 marks)

1. What are the assumptions made by Classical Theory of International Trade?
2. Define the trade practiced by a country neither having primary nor secondary sector?
3. Briefly explain the term ‘LERMS’.
4. What do you understand by international liquidity?
5. Why is full convertibility preferred to partial convertibility?
6. What is paper gold?
7. Briefly explain absolute cost advantage.

 

Part – B

 

Answer any FOUR questions in about 300 words each.               (4 x 10 = 40 marks)

8. Discuss the features of international trade?
9. Describe the criticism leveled against the Classical theory of international trade?
10. What are the factors affecting terms of trade?
11. Explain the functions of various institutions of World Bank?
12. Bring out the case against free trade?
13. Discuss the contribution of Adam Smith towards international trade?
14. Bring out the impact of globalization on foreign trade?

 

Part – C

 

Answer any TWO questions in about 900 words each.                 (2 x 20 = 40 marks)

15. Explain the modern theory of international trade with necessary diagrammatic illustrations.
16. Discuss the recent import and export policies of government of India.
17. Critically analyse the Classical theory of international trade.
18. Explain the role or WTO in promoting a viable environment for trade between countries.

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