Module Code: 7ECON006W
Module Title: International Economics
Module Leader: Ola Sholarin
Release Time: 13/01/2021 10:00 GMT Submission Deadline: 14/01/2021
Instructions to Candidates:
Please read the instructions below before starting the paper
Module Specific Information
Word count guidance: 3000 words maximum in total. This is equivalent to about 300 words for every 10 marks or about 1000 words for every 35 mark question.
Please minimize use of tables or diagram where possible and concentrate more on critical analysis.
If you use diagrams or scanned material, a clear picture of these with source must be provided, using your phone or any other portable device.
Please save and upload your work using Microsoft word with font size 12.
SECTION A: Question 1 is compulsory and worth in total 30 marks.
Answer ALL PARTS of this question
(Total: 30 marks)
SECTION B: Answer ANY Two questions from this section. Each question is worth 35 marks
The amount of Foreign Direct Investment (FDI) flowing into China has risen dramatically over the last three decades, providing the much needed capital to fuel China’s economic growth. Critically examine why China appears to be more successful in attracting international investors compared to Japan or Germany.
Discuss how an import tariff is likely to affect trade, consumption, production and government revenue in an open economy. How does an import tariff compare with an export quota as a tool for controlling international trade flows? Use appropriate diagrams to support your arguments.
What economic theories are there to justify the rise of China, which, from a major importer of electronic products a few decades ago from USA and Japan, has been transformed into a world-class exporter of sophisticated electronic products in recent years? Support and justify your argument with diagrams where appropriate.
[Questions continue on the next page]
Discuss the concept of economies of scale and its relationship to David Ricardo’s theory of comparative advantage. Critically examine how trade amongst nations could accelerate their pace of economic growth. Discuss how the same trade could be detrimental to economic development of a single nation.
Critically examine ways in which Multinational Corporations could accelerate economic development of a nation. Why are these multinational corporations successful in some countries but fail in others?
[END OF ONLINE TIMED ASSESSMENT]
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