Eco 423: Economic Policy Analysis Question Paper

Eco 423: Economic Policy Analysis

Course:Bachelor Of Arts In Economics

Institution: University Of Kabianga question papers

Exam Year:2017

SCHOOL OF BUSINESS AND ECONOMICS.

Department of Accounting, Finance and Economics.

2016/2017 Academic Year.

FOURTH YEAR FIRST SEMESTER EXAMINATION.

FOR THE DEGREE OF BACHELOR OF ARTS (ECONOMICS)

ECO 423: ECONOMIC POLICY ANALYSIS.

Instructions: Answer Question ONE and any other THREE.

Question One [25 Marks]

a). Give your understanding on the following:

i. State. (1 Marks)

ii. Government. (1 Marks)

iii. Principle agent problem. (1 Marks)

iv. Tariff concession. (1 Marks)

v. Public utilities. (1 Marks)

b). Describe any five challenges that normally arise in the implementation of trade policy between trading partners. (5 Marks)

c). Give a critical evaluation on Land reform policy in Kenya. (8 Marks)

d). Discuss the economic policy measures a country experiencing balance of payments (BOPs) deficit should adopt. (7 Marks)

Question Two (15 Marks)

a). Explain the monetary policy instruments used by an economic system to regulate money supply. (8 Marks)

b). Discuss the case for the establishment of state owned enterprises (SOEs) in Kenya. (7 Marks)

Question Three (15 Marks)

a). Discuss the effect of fiscal expansionary policy in both closed and open economies. (9 Marks)

b). Explain the economic policy goals of a country. (6 Marks)

Question Four (15 Marks)

a). Discuss the measures that the government can use to remedy the problem of market failure. (9 Marks)

b). Discuss the limitations of effective functioning of fiscal policy instruments. (6 Marks)

Question Five (15 Marks)

a). Discuss and illustrate the workings of any three monetary policy instruments used to manage inflation in an economy. (8 Marks)

b). Describe in details the distinct steps in economic policy development process. (7 Marks)

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