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Econ 334 Advanced Macroeconomics Question Paper

Econ 334 Advanced Macroeconomics

Course:Bachelor Of Science In Economics And Statistics

Institution: Chuka University question papers

Exam Year:2013

CHUKA UNIVERSITY

COLLEGE

UNIVERSITY EXAMINATIONS

THIRD YEAR EXAMINATION FOR THE AWARD OF DEGREE OF

ECON 334: ADVANCED MACROECONOMICS

STREAMS: Y3S2 TIME: 2 HOURS

DAY/DATE: TUESDAY 3/4/2012 11.30 A.M. - 1.30 P.M.
INSTRUCTIONS:

Answer any five questions.

1. (a) Discuss the dynamics of unemployment and inflation and the long-run Philips
curve. [14 marks]

(b) Outline the economic and human cost of unemployment and inflation.
[6 marks]

2. (a) Discuss the advantages and disadvantages of both flexible and fixed exchange
rate system. [16 marks]

(b) Outline any four types of unemployment. [4 marks]

3. (a) Outline the causes of balance of payments disequilibrium. [4 marks]

(b) Explain whether expansionary or contractionary fiscal policy is suitable for correcting deficit in the balance of payment. [16 marks]

4. With an aid of equation and a diagram explain the Sohow growth theory and explain how an economy achieves a long-run steady state. [20 marks]

5. Distinguish between accelerator and flexible accelerator version of investment theories. [20 marks]

6. Explain the main propositions and policy implications of rational expectations theory.
[20 marks]
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Econ 334 Advanced Macroeconomics Question Paper

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