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Economic Policy And Analysis Y3s2 Question Paper

Economic Policy And Analysis Y3s2

Course:Bachelor Of Science In Economics And Mathematics

Institution: Kabarak University question papers

Exam Year:2009

COURSE CODE: ECON 325
COURSE TITLE: ECONOMIC POLICY ANALYSIS
STREAM: Y3S2

INSTRUCTIONS:
1. Answer QUESTION ONE and any other TWO questions.

QUESTION 1
(a) Identify the objectives of an economic policy (4mks)
(b) Explain four instruments used in economic policy (12mks)
(c) Describe seven efficiency criteria used to assess instruments of economic policy
(14mks)
QUESTION 2
(a) Explain three important steps in any economic policy formulation (12mks)
(b) Discuss Tinbergen’s model on economic policy formulation (8mks)
QUESTION 3
(a) What is economic efficiency? (2mks)
(b) Using appropriate diagrams, explain the following dimensions of economic
efficiency
(i) Static efficiency (7mks)
(ii) Dynamic efficiency (7mks)
(c) Distinguish between mixed and planned economic systems. (4mks)
QUESTION 4
(a) State the causes and consequences of income inequality in society
(6mks)
(b) Describe the measurement of income inequality using Lorenz curve
(6mks)
(c) Discuss the policy measures taken in Kenya to reduce income inequalities
(8mks)
QUESTION 5
(a) Using a graph, explain the conditions for achieving optimal social welfare
(7mks)
(b) Outline the characteristics of a welfare optimizing model. (4mks)
(c) (i) Identify the objectives of economic planning (3mks)
(ii) Explain three types of planning models (6mks)

Economic Policy And Analysis Y3s2 Question Paper

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