ECON0424-MT_questions - Midterm Questions ECON 0424 -...

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ECON 0424 - Professor Leticia Arroyo Abad For all questions make sure you explain and state the concept/problem/idea alluded, mention the theoretical implications (when applicable), and empirical evidence in historical perspective. You should provide a well-rounded discussion of the topic in your answer. 1 1. What is the Great Divergence? What are its main quantitative features? Discuss some of the main controversies surround the Great Divergence: When did it begin? Where did it begin? Why did it happen? Has it been exacerbated by globalization? 2. Compare the first and second waves of globalization. What are the differences and similarities? Are there any lessons we can learn from the past? 3. For biologist Jared Diamond, genetic and biological explanations cannot explain why wealth and power became distributed as they are now and not in other way. Discuss Diamond’s argument on the rise of the West. 4. Gregory Clark’s hypothesis hinges upon the idea of “the survival of the richest”: What does he mean by this? How is this theory challenging our previous knowledge on economic growth in historical perspective? 5. Nobel Prize in Economics Joseph Stiglitz believes that globalization has not delivered growth and development for poor countries. Explain his argument and provide evidence. 6. Economic historian Jeffrey Williamson is a firm believer in globalization as major force of change for the periphery and the core. Based on his presentation and multiple readings, explain his position providing ample evidence on the hypotheses he raises and the answers he supplies. 2 1. The specific factors model fits the trade patterns and flows between the Atlantic economies during the first globalization wave. Simply state this model, its theoretical implications, and contrast them with the actual experience of the peripheral and core countries citing appropriate evidence as necessary. 2. During the last decades of the 20th century, many countries have gone through a series of reforms labeled known as “trade liberalization”. Explain the typical policies involved, the costs, and the expected vs. actual results. 3. The migratory tides have risen and dwindled over the last 150 years. Describe the migratory patterns in history, discuss the factors that contributed to the evolution, and the distributional effects in the sending and receiving economies. 1
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This note was uploaded on 04/19/2010 for the course ECON 430 taught by Professor Arroyoabad during the Fall '10 term at Middlebury.

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ECON0424-MT_questions - Midterm Questions ECON 0424 -...

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