IGNOU MEC 07 SOLVED ASSIGNMENT 2021-22

 

MEC-007: INTERNATIONAL TRADE AND FINANCE SOLVED ASSIGNMENT 2021-22

 Course Code: MEC-007

Assignment Code: MEC-006/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.

SECTION A

 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.

SECTION B

 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.

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