Browsing by Author "Vacu, N.P."

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    International Trade Theory and Policy: ECO 321/E, Degree Examinations November 2024
    (University of Fort Hare, 2024-11) Tendengu, S.; Ndesi, N.; Gcadana, N.; Vacu, N.P.
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    International Trade theory and Policy: ECO 321/E, Supplementary Examinations November 2024
    (University of Fort Hare, 2024) Ndesi, N.; Tendengu, S.; Gcadana, N.; Vacu, N.P.
    This supplementary examination paper for ECO 321/321E, "International Trade Theory and Policy," is a 3-hour assessment worth 100 marks. The paper is divided into three sections: Section A (compulsory), Section B (answer any two questions), and Section C (compulsory). Section A focuses on trade protection, requiring students to explain three arguments for trade protection and critically discuss their relevance in the South African context. Section B delves into various international trade theories and concepts. Question 2 presents a scenario involving China and Dubai, requiring students to determine absolute and comparative advantages, pre-trade relative prices, and opportunity costs of production for televisions and computers based on given input requirements. Question 3 asks for illustrations and explanations of the product cycle hypothesis and the Linder theory, along with a discussion of the limitations and criticisms of Mercantilism. Question 4 requires a discussion of the static effects of economic integration, providing illustrations where necessary, in the context of countries setting zero tariffs versus optimal tariffs against each other. Section C, a compulsory section, includes Question 5, which requires students to differentiate between intra- and inter-industry trade and their respective bases of trade, differentiate between trade diversion and trade creation, and discuss one non-tariff barrier. The examination requires the use of clearly labeled diagrams and the showing of any workings where necessary.