YEAR 2020


  1. Explain how renewable resources will play a role in future economics.
  2. In the context of International Trade theory discuss in detail the various stages of international Product life cycle.
  3. Discuss the issue of compatibility between international trade and environment sustainability.
  4. Explain how trade blocks are important in the process of economic globalisation. Illustrate your answer with suitable examples.
  5. Explain the recent changes in trade and investment flows among different countries in the world. Discuss the major factors that led to the changes.

YEAR 2019


  1. How can controls on foreign trade contribute to the development of developing countries?
  2. What are the features based on which the new trade theories are built that are distinctly different from the old ones?
  3. Trade can be growth promoting and growth inhibiting. Argue in terms of established theories.
  4. In what was does the concept of a positive optimal tariff apply to only large scale countries and not to small scale countries?

YEAR 2018


  1. Under what conditions will devaluation create trade surplus and increase output in the simple Keynesian framework?
  2. Give an outline of a model of speculative attack under fixed exchange rate.
  3. Explain, with the help of diagram, how Haberler’s theory of opportunity cost is an improvement over the comparative cost theory of Ricardo.
  4. A quota on import and an equal-import tariff are equivalent in a competitive market but not under monopoly. Explain.
  5. What is Doha Development Agenda? Explain how it negotiated TRIPS and TRIMS among nations.

YEAR 2017

  1. Write a short note on Gravity model of trade.
  2. Determine optimum tariff of a country with the help of offer curve.
  3. What are the implications of trade in higher education under GATS for India?
  4. “The consumption and production effects of a tariff for a commodity depend on the elasticities of demand and supply respectively.” Discuss.
  5. “Monetary contraction is a better option than devaluation to improve Balance of payments position of a developing economy under fixed exchange rate system. Discuss.
  6. Do you agree with the view that the honeymoon with free trade under WTO is at an end? Give reasons for your answer.
  7. Petroleum is sold in the world market and price in US dollars. RISCO in India must import petroleum to use it in its manufacturing. How are its profit affected when Indian rupee depreciates against the US dollar?

YEAR 2016

  1. Differentiate between inter-industry and intra-industry trade. Can standard H-O model explain intra-industry trade? Discuss.
  2. Explain Dunning’s electic theory of FDI.
  3. What is the stalemate in the WTO about subsidies in less-developed economies? Discuss.
  4. ‘’The argument that export-biased growth may turn the terms of trade unfavourable to the country and hence may not be beneficial, is applicable in the case of a large country and not a small country.’’ Explain.
  5. With the help of Salter-Swan diagram, define the zones of disequilibrium and assign policy prescriptions for the situations pertaining to unemployment and inflation vis-à-vis BOP deficit.
  6. What are the elasticity and absorption approaches to BOP adjustment? Discuss.

YEAR 2015

  1. What is ‘immiserizing growth’? How can it be prevented through trade policy interventions?
  2. How do depreciation and appreciation in the external value of a currency impact a country’s balance of payments?
  3. In the context of a two-country model, derive foreign trade multiplier and explain its working. What will be its repercussion?
  4. Distinguish between Monetary union and Economic union. Do the proliferating trading blocks adversely affect the free trade in the world? Give reasons for your answer.