These are the questions to be prepared for the final exams. ONLY 6 or 7 will be asked in
the final and you will be asked to answer 3 or 4.
1. Distinguish between Import Substitution and Export oriented industrialization. What are
the merits and demerits of each? Name some of the countries that had recourse to each
of these policies, and the respective impact these policies had on their economies.
2. What issues form the basis of the debate between trade optimists and trade pessimists?
Is either side more correct? Explain your answer.
3. What is the relationship between a Lorenz Curve and a Gini Coefficient? Give some
examples of how Lorenz curves and Gini Coefficients can be used as summary
measures of inequality and equality in a nation’s distribution of income.
4. State and explain any two theories of development
5. What is the Malthusian Trap? Critically evaluate its relevance today.