University of Mumbai 2008 M.A Economics International ( Part 1,) - Question Paper

International Economics, April 2008

(3 Hours)
Total Marks: 100
N.B.: 1) Attempt any four ques.
2) All ques. carry equal marks

1. explain briefly the real cost and opportunity cost versions of the comparative cost theory of international trade. In what respect is the opportunity cost version an improvement over the real cost version?

2. Show how factor price equalization emerges in the Heckscher-Ohlin model.

3. ….
a. Distinguish ranging from pro-trade and anti-trade biased growth.
b. What do you mean by 'immiserising growth'? discuss.

4. Analyze the effects of tariffs on relative factor shares.

5. What is free trade area? How is it various from customs union?

6. Distinguish ranging from export-promotion and import-substitution as strategies of economic development. Which of these strategies is suitable for developing economy like India?

7. Write short notes on any two of the following:
a. Rybczynski Theorem
b. Measurement of Intra-Industry Trade
c. Technological Gap Model
d. Optimum Tariff

Earning:   Approval pending.