End-of-Course Assessment January Semester 2015
INSTRUCTIONS TO STUDENTS:
1. This End-of-Course Assessment paper
(including the cover page).
comprises SEVEN (7) pages
2. You are to include the following particulars in your
If the production possibility frontier shifts out, a country is definitely better off
because it can reach a higher community indifference curve. Discuss the validity of this
statement with the aid of two different, suitable diagrams.
(a) The table below shows the quantity of shirt and pants that one unit of labour can produce per day
in Country A and Country B.
(i) Explain which country has absolute advantage (if any) and comparative
ECO203 / ECZ203
INTERNATIONAL ECONOMICS /
INTERNATIONAL TRADE &
STUDY GUIDE (5CU)
Course Development Team
Head of Programme
Mr Gabriel Gervais
Deputy Head of
Dr Alex Qian
Dr Tan Khay Boon
Assignment 2 Group-based Assignment
January 2015 Presentation
This assignment is worth 30% of the final mark for ECO203e International Economics.
The cut-off date for this assignm
Study unit 3 (chapter 6 )
Economic integration refers to the
commercial policy of discriminately
reducing or eliminating barriers to trade
between a select group of countries.
Trade Restrictions: Tariffs
Study unit 2 (chapter 4)
Movements away from free trade
While it is generally accepted that free trade
best enhances societal welfare, complete
free trade is seldom practiced.
This situation generate
Balance of Payments
Study unit 4 (chapter 8 )
Balance of payments
The balance of payments provides a
summary statement of international
transactions for a nation for a specified
period of time.
The balance of payments converts