|Course Code :||MEC-007|
|Course Title :||International Trade and Finance|
|Program :||MA Economics / MEC|
|Max Marks :||100|
|Session :||July 2021 and January 2022 (2021-22)|
|Last Date of Submission :||31st March, 2022 (for July 2021 session)
30th September, 2022 (for January 2022 session)
|Solution Type :||Softcopy (PDF File)|
TUTOR MARKED ASSIGNMENT
MEC-007: INTERNATIONAL TRADE AND FINANCE
Course Code: MEC-007
Assignment Code: MEC-007/AST/2021-22
Maximum Marks: 100
Note: Answer all the questions. While questions in Section A carry 20 marks each (to be answered in about 500 words each) those in Section B carry 12 marks each (to be answered in about 300 words each). In the case of numerical questions word limits do not apply.
1) Critically discuss the Ricardian theory of Comparative Advantage. How is it different from Adam Smith’s theory of Absolute Advantage?
2) Explain the various concepts of terms of trade. Critically examine the behavior of terms of trade as explained by Prebisch.
3) Explain multilateral framework of international trade. Explain its main features.
4) What are the various forms of economic integration? How is trade diversion different from trade creation? Elucidate.
5) Describe the evolution of international monetary system. Examine the trends in the international monetary and financial systems.
6) Discuss the various instruments of trade protection. Differentiate between quotas and tariffs.
7) Critically examine the relative merits and demerits of the fixed and flexible exchange rates.
Keywords: MEC-007, MEC007, MEC 007, MEC-7, MEC7, MEC 7, MEC-07, MEC07, MEC 07, IGNOU Solution Guide, Answer Key