Description
MEC-107: INTERNATIONAL TRADE AND FINANCE
Tutor Marked Assignment
Course Code: MEC-107
Asst. Code: MEC-107 / AST-1/2024-2025
Total Marks: 100
Note: Answer all the questions.
SECTION A
Answer the following questions in about 700 words each. Each question carries 20
marks.
2X20=40
1. Critically discuss the Ricardian theory of Comparative Advantage. How is it different
from Adam Smith’s theory of Absolute Advantage?
2. Explain the various concepts of terms of trade. Critically examine the behavior of terms
of trade as explained by Prebisch.
Section B
Answer the following questions in about 400 words each. Each question carries 12marks.
5X12=60
3. Explain multilateral framework of international trade. Explain its main features.
4. What are the various forms of economic integration? How is trade diversion different
from trade creation? Elucidate.
5. Describe the evolution of international monetary system. Examine the trends in the
international monetary and financial systems.
6. Discuss the various instruments of trade protection. Differentiate between quotas and
tariffs.
7. Critically examine the relative merits and demerits of the fixed and flexible exchange
rates.
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