TAKE HOME FINAL EXAMINATION

(Introduction to Economics w/ Land Reform and Taxation)

ANSWER ALL QUESTIONS! Manuscript should be encoded in MS Word

document, double-spaced and justified using 12-point Arial font with
one-inch margin on all sides and printed on one side of an 8.5x11 bond
paper. Please try to answer each of the following questions in one
consistent essay.

1. Which problem do you believe is more serious: unemployment or

inflation? Defend your answer.

2. If the economy is in recession, what sort of fiscal policy changes

would tend to bring it out of recession?

3. What are the arguments for and against having monetary policy
more directly controlled by the political process?

4. How important are monetary and fiscal policies to long-term

economic growth? What are the most important variables
determining a nation’s long-term economic growth rate?

5. Choose two nations listed below, and then use web site links to
compare their economic positions. What are your first impressions
about the economic health and well-being of these nations? a)
South Africa; b) India; c) China; d) Turkey; e) Poland; f) Saudi
Arabia; g) Argentina.

6. What is your opinion about the role that government should play
in the economy? Go to the Web site of Pres. Gloria Macapagal-
Arroyo (http://www.gov.ph) and search for a recent speech by the
president that focuses on government spending or tax policies.
What type of macroeconomic policy is she promoting? Do you agree
with her?

7. How might land reform be achieved in developing countries? What

issues are involved? What are the political and ethical
implications?
8. Explain the meaning of Gunnar Myrdal’s quote at the beginning of
this chapter: “It is in the agricultural sector that the battle for
long-term economic development will be won or lost.”

9. “The distribution of income within a country is only a small part of

the story of economic inequality. The truly disturbing inequality is
that among nations. The rich countries must do much more to
 help the poor ones.” Appraise this statement. Do you agree or
disagree with it? Provide a detailed justification for your opinion.

10.How would you design a program aimed at eradicating absolute

poverty in the Philippines in the next two decades?

Assessment Criteria
This take home final examination will be assessed taking into account
the following:
• Evidence of background reading and relevant academic literature.
• No plagiarism. Avoid copy paced.
• Appropriate use of referencing system (e.g. Harvard)
• Appropriate data and depth of analysis.
• Appropriate conclusion.

Date of submission (Strictly no extension!)

On or before October 2, 2009

Dr. Abraham C. Camba Jr.

Department of Economics
College of Economics, Finance and Politics
PUP, Sta. Mesa