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TOPIC: International Trade, Exam questions summary
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#70080
International Trade, Exam questions summary 1 Year, 8 Months ago Karma: 82
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Critically discuss mercantilist trade policy compared to policy based on the principal of comparative advantage (25)

What were the mercantilist’s views on trade? How do they relate to the current ideology of protectionism? (7)

Critically evaluate Adam Smith’s theory of absolute advantage, outlining the assumptions for this theory to hold true in its purist form (18)

Discuss the theory of comparative advantage by David Ricardo.
What are the assumptions in its purest form?
How does this theory differ fundamentally from Smith’s theory of absolute advantage? (25)

Explain how the factor proportions theory improves on the Ricardian trade theory.
Explain why the theory may not hold perfectly in practice.
Briefly highlight some of the new theories that have emerged as explanations of international trade patterns (25)

Explain how the factor proportions theory can be used to explain the pattern of trade between two countries.
Outline the assumptions of the theory to hold true in its purest form.
Explain how subsequent tests of the theory have sought to contradict the original predictions of the theory (25)

Explain the welfare effects of tariffs in the case of a large country. Who gains and who loses?
Is it possible for a large country to be better off with a tariff than with free trade (25)

Compare and contrast the effects of a tariff and an import quota as alternative methods of protecting a domestic industry.
If a government of a small country wants to reduce the amount of textile imports to a specific quantity should it use a tariff or an import quota? Motivate your answer (25)

Explain the theories of intra industry trade (25)

Explain the domestic effects of a tariff using a graph, assume the country imposing the tariff is small (25)

A normal tariff applied to an imported commodity may overstate or understate the effective rate of protection. Explain how this might occur (15)

Evaluate the main arguments for and against protectionism (25) Question repeated twice!!

Describe and explain the various forms of regional economic integration agreements. Also name a describe an example of each (25)

Briefly explain the main forms of economic integration (15)
Discuss the trade creation and trade diversion which occur when a country joins a customs union. Can a trade diverting customs union result in trade creation (10)

Discuss the costs and benefits of multinational corporations to the home and host countries. Who gains and who loses? (25)

Multinational corporations do more harm than good in developing countries. Discuss (25)

Discuss the main principals underlying the operation of the world trade organisation
How does the WTO differ from its predecessor GATT (25)

Briefly explain the main functions of the WTO (10)

What were the Mercantilist’s views on trade? How do they relate to current ideology of protectionism? (7)
Critically evaluate Adam Smith’s theory of absolute advantage, outlining the assumptions necessary for the theory to hold in its purest form. What are the criticisms of this theory? (18)

Critically discuss the Heckscher-Ohlin theory of international trade. (25)

Using a well labelled diagram, explain the partial equilibrium effects of a tariff on a small country (25)
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#70082
Re:International Trade, Exam questions summary 1 Year, 8 Months ago Karma: 4
Sheesh,thats basically the whole textbook! Thanks for the heads up. Simplifies the whole course 4 me
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#76026
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
Bump
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#76154
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 3
please take a look at the "prescribed reading "
File Attachment:
File Name: 201_2013_1_e-20130511.pdf
File Size: 446240
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#76981
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
Hi Jason, I wrote environmental eco's today so now i can concentrate on international trade...

Have a look at the diagrams which were punted by the course leader on myunisa, a total of 9... i recon KNOW THEM!

My thoughts on the prescribed reading is that i will concentrate on the previous exam questions regardless but i will keep in mind the prescribed reading...staying within those parameters...

Let me know how it goes and post any questions you are having trouble with so we can help each other
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#77074
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
here is a link to a youtube vid if you are struggling to understand comparative advantage.... simple once you get it.

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#77259
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
Check out the exam papers posted on myunisa, 2010, 2011 and 2012 are not included in my exam question summary....

I imagine that a couple of definitions will be included... the format is quite nice as the questions are broken up into slightly smaller ones, and not lumped into a handful of 25 mark questions... good luck
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#77670
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
How is the prep coming along? Its a substantial amount i must be honest...

i have just been working though each question slow and steady.... have a look at the answers to the 3rd assignment in tut 201, its a nice help...
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#78045
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
Just spoke to mr marais...

Prescribed reading is NB for exam... if he had karma i would up it!! also pay attention to the nb diagrams posted on myunisa
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#78839
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 82
How did you guys find the exam... everything came from the prescribed reading so it wasnt too bad
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#78900
Re:International Trade, Exam questions summary 1 Year, 6 Months ago Karma: 4
The paper was relatively easy. provided one did the work thoroughly. I was just bad at managing my time, but otherwise, the prescribed reading was of great great help
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