Académique Documents
Professionnel Documents
Culture Documents
5.
4.
3.
2.
1.
96 383 3803 3C5 BC0 0C7 730E EAB BFC 8F2 2CF 57F FA2 963 3838 803C
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5
38 380 3C5 BC 0C 730 EA BFC 8F 2C F57 FA 296 383 803 C5 BC0
3 7 B F F 2 3 B
75409
83 803 3C5B BC0 0C7 30E EAB FC 8F2 2CF 57F A2 963 838 803C C5B C0C C73
d)
c)
a)
b)
80 C5 C C 30 A FC 8F CF 57 A2 96 83 03 5B C0 7 0E
80 3C5 BC 0C 730 EA BFC 8F 2CF 57 FA2 96 383 803 C5B C0 C7 30E AB
3 7 E B 2 F 3 8 3
03 C5B BC0 0C7 30E AB FC 8F2 CF5 57F A29 963 838 03C C5B C0C C73 0EAABF FC8
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B C0 7 0E B C F2
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C C7 30E AB FC 8F2 CF
Bank.
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
system.
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
example.
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0E B C8 F2 F5 7FA 29 38
FC 8F2 CF 57F A2 963 838 03 5B C0 C73 0E AB FC8 F2 CF5 7F 29 638 380
8F CF 57 A2 96 83 03 C5B C0 C7 0E AB FC F2 CF 7F A2 63 38 3C
2C 57 FA 96 383 80 C5 C C7 30 AB FC 8F CF 57 A2 963 83 03 5B
F5 FA 29 38 80 3C BC 0C 30 EA F 8F 2C 57 FA 96 83 803 C5 C
Time : 3 Hours
7F 29 63 38 3C 5B 0C 73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C
A2 63 83 03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0EA
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5 C0 C7 0E B
8F CF 57 A2 96 83 03 C5B C0 C7 0E AB FC F2 CF 7F A2 63 38 3C
2C 57 FA 96 383 80 C5 C C7 30 AB FC 8F CF 57 A2 963 83 03 5B
F5 FA 29 38 80 3C BC 0C 30 EA F 8F 2C 57 FA 96 83 803 C5 C
Page 1 of 2
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5 C0 C7 0E B
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5 BC C 30 A FC
________________
c) Discuss the consequences of exchange rate crisis.
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0E B C8 F2 F5 7FA 29 38
FC 8F2 CF 57F A2 963 838 03 5B C0 C73 0E AB FC8 F2 CF5 7F 29 638 380
8F CF 57 A2 96 83 03 C5B C0 C7 0E AB FC F2 CF 7F A2 63 38 3C
C8F2CF57FA296383803C5BC0C730EABF
2) Figures to the right indicate full marks.
2C 57 FA 96 383 80 C5 C C7 30 AB FC 8F CF 57 A2 963 83 03 5B
F5 FA 29 38 80 3C BC 0C 30 EA F 8F 2C 57 FA 96 83 803 C5 C
3) Draw neat diagrams wherever necessary.
7F 29 63 38 3C 5B 0C 73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C
A2 63 83 03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73
b) Discuss the global financial crisis and its impact on euro area.
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0EA
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5 C0 C7 0E B
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5 BC C 30 A FC
b) Discuss the effects of changes in foreign demand on trade balance.
03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B C0 7 0E B C F2
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C C7 30E AB FC 8F2 CF
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
a) Explain merits and demerits of managed flexible exchange rate system.
Paper / Subject Code: 86505 / Economics: Macroeconomics - III
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
c) Explain how monetary policy is ineffective under fixed exchange rate
a) Distinguish between nominal and real exchange rate with help of an
7F 29 63 38 3C 5B 0C 73 EA BF C8 2C F5 FA 29 38 80
A2 63 83 03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63 838 03C
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5
20
20
20
20
20
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5
03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C
0E B C F2 F5 7F 29 63 38 3C B 0C
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 7
FC 8F2 CF 57F A2 963 838 03 5B C0 C73
8F CF 57 A2 96 83 03 C5B C0 C7
2C 5 FA 9 38 80 C C C 30
F 7F 29 3 38 3C B 0C 73 EA
F5 57FAA29 638 8380 03C 5BC C0C 730 0EA BF
7 6 3 5 7 C
57 FA2 296 383 803 3C5 BC0 0C7 30E EAB BFC 8F2
FA 96 38 80 C5 BC C 30 A FC 8F CF
FA 296 38 380 3C5 BC 0C 730 EA BFC 8F 2CF 57
3 3 7 E B 2 F
A2 2963 383 803 C5B BC0 0C7 30E AB FC 8F2 CF5 57F A29
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63
1-
5-
4-
3-
2-
29 38 80 C BC C 30 A F 8F C 57 A 96 83
6 5 C F 2
96 383 3803 3C5 BC0 0C7 730E EAB BFC 8F2 2CF 57F FA2 963 3838 803C
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5
38 380 3C5 BC 0C 730 EA BFC 8F 2C F57 FA 296 383 803 C5 BC0
3 7 B F F 2 3 B
75409
c½
c½
c½
c½
c½
M½
83 803 3C5B BC0 0C7 30E EAB FC 8F2 2CF 57F A2 963 838 803C C5B C0C C73
d½
80 C5 C C 30 A FC 8F CF 57 A2 96 83 03 5B C0 7 0E
80 3C5 BC 0C 730 EA BFC 8F 2CF 57 FA2 96 383 803 C5B C0 C7 30E AB
3 7 E B 2 F 3 8 3
03 C5B BC0 0C7 30E AB FC 8F2 CF5 57F A29 963 838 03C C5B C0C C73 0EAABF FC8
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B C0 7 0E B C F2
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C C7 30E AB FC 8F2 CF
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0E B C8 F2 F5 7FA 29 38
osG % 3 rkl
Page 2 of 2
ejkBh #ikarj
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5 C0 C7 0E B
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5 BC C 30 A FC
03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B C0 7 0E B C F2
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C C7 30E AB FC 8F2 CF
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
_______________________
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0E B C8 F2 F5 7FA 29 38
vlqjf{kr O;kt lerk (uncovered interest parity) Li”V djk
C8F2CF57FA296383803C5BC0C730EABF
2C 57 FA 96 383 80 C5 C C7 30 AB FC 8F CF 57 A2 963 83 03 5B
F5 FA 29 38 80 3C BC 0C 30 EA F 8F 2C 57 FA 96 83 803 C5 C
7F 29 63 38 3C 5B 0C 73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C
A2 63 83 03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63 838 03C 5B C0 73 0EA
ijdh; ekx.khrhy cnyakpk O;kikjrksy lerksykojhy ifj.kkekaph ppkZ djk-
Tkkxfrd vkfFkZd ladV vkf.k ;qjks {ks=kojhy R;kpk ifj.kke ;kph ppkZ djk-
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5 C0 C7 0E B
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5 BC C 30 A FC
03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8
fLFkj fofue; nj i/nrhr O;ogkj’ks”kkrhy lerksy dlk jk[kyk tkrks ppkZ djk-
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B C0 7 0E B C F2
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C C7 30E AB FC 8F2 CF
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC 0C7 30E AB FC 8F2 CF 57F
Paper / Subject Code: 86505 / Economics: Macroeconomics - III
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C 30 A FC 8F CF 57 A2
0E B C F2 F5 7F 29 63 38 3C B 0C 73 EA BF 8 2C 5 FA 96
v½ lqo.kZifjek.k i/nr Li”V djk- lqo.kZifjek.k i/nrhP;k vi;’kph dkj.ks dks.krh vkgsr\
,dw.k xq.k % 100
8F CF 57 A2 96 83 03 C5B C0 C7 0E AB FC F2 CF 7F A2 63 38
2C 57 FA 96 383 80 C5 C C7 30 AB FC 8F CF 57 A2 963 83
F5 FA 29 38 80 3C BC 0C 30 EA F 8F 2C 57 FA 96 83 803
eqaMsy ¶ysfeax izfrekukP;k lkgk¸;kus cnyrk fofue; nj vkf.k HkkaMoy iw.kZ xrh’khy vlrkuk
7F 29 63 38 3C 5B 0C 73 EA BF C8 2C F5 FA 29 38 80
A2 63 83 03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C
96 83 803 C5 C0 C7 30E AB FC 8F2 CF 7F A2 63 838 03C
38 80 C5 BC C 30 A FC 8F C 57 A 96 83 03 5
20
20
20
20
20
38 3C B 0C 73 EA BF 8 2C F5 FA 29 38 80 C5
03 5B C0 7 0E B C F2 F5 7F 29 63 38 3C B
C5 C C7 30 AB FC 8F CF 7F A2 63 83 03 5B
BC 0C 30 EA F 8F 2C 57 A 96 83 803 C5 C
0C 730 EA BF C8F 2C F57 FA 296 383 803 C5 BC
73 EA BF C8 2C F5 FA 29 38 80 C5 BC 0C
0E B C F2 F5 7F 29 63 38 3C B 0C
AB FC 8F2 CF 7F A2 63 838 03C 5B C0 7
FC 8F2 CF 57F A2 963 838 03 5B C0 C73
8F CF 57 A2 96 83 03 C5B C0 C7
2C 5 FA 9 38 80 C C C 30