Introduction to Macroeconomics II

QUESTION 1

Nations and economies are increasingly becoming intricately linked through international trade. Some countries have fully opened their borders while others have taken a protective stance.

a. Explain the concept of International Trade and its relative importance to societies. (12 Marks)

b. With the use of examples, where possible, explain THREE (3) arguments FOR and THREE (3) arguments AGAINST international trade. (12 Marks)

QUESTION 2

For developing countries and the Caribbean region, sustained economic growth is crucial for reducing extreme poverty and improving basic living standards.

a) Distinguish between economic growth and economic development and examine FOUR (4) constraints that hinder economic growth within the Caribbean region. (13 Marks)

b) Explain the concept of economic integration. Discuss the economic integration level to which the Turks and Caicos Island is an Associate Member State of the regional body and briefly explain TWO (2) benefits gained from economic integration. (12 Marks)

TOTAL (50 Marks)

Additional Guidelines

Cover Page

Table of Content

Introduction

Body (including sub-topics)

Conclusion

Reference Page

APA Format:

1) Font size: 12 pt.

2) Font Style: Times New Roman

3) Spacing: 2.0

· Your References must be included (Wikipedia is not to be used as a Reference).

· You are required to submit an e-mailed soft- copy to the Lecturer at denese.sterling@tcicc.edu.tc

This assessment is worth 25% of your total final assessment grade and must be done within the deadline specified. Failure to do so will result in an automatic grade of zero. Plagiarism, improper documentation and blatant careless incorrect grammar and spelling will be penalized by the loss of marks.

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