Categories
Exam Questions M.I.T.

M.I.T. General Examinations in International Economics. Feb/May 1966

 

The following general exams for the field of international economics in 1966 at M.I.T. cover mainly topics related to international payments and finance as opposed to pure trade theory and commercial policy. 

The general exams in international economics from 1959 have been posted earlier.

_________________________

General Examination in International Economics
February 9, 1966

  1. Make the case for or against economic integration, as you define it, in Europe, in a particular corner of the world, or more widely.
  2. Working Party 3 of the Organization for Economic Cooperation and Development has been assigned the topic of balance-of-payments adjustment policy. Write a sketch of the line it should take, in your estimation, regarding speed of adjustment, approved mechanisms, responsibilities of surplus countries, etc.
  3. In the wide ranging controversy about the adequacy of international monetary reserves, where do you inscribe yourself, and why?
  4. Discuss the theory of international trade in terms of the empirical support which various theories have been able to muster. Does one theory survive this testing better than others?
  5. Explain why, if it be true, that foreign trade was an effective engine of economic growth in the 19th century, but is not in the 20th.

_________________________

International Economics General Exam
May 1966

Write three essays, of one hour each, on Topic 1, and one each out of Groups 2 and 3 (but excluding the combination of #3 (United States) and #5).

Group 1

  1. The Relevance of the Theory of Comparative Advantage to Problems of Development in Less Developed Countries Today

Group 2

  1. The Role of Technological Change in Balance-of-Payments Disequilibrium
  2. Specific Policy Recommendations (with appropriate analysis) for the Balance-of-Payments Problem of the United Kingdom, the United States, or a developing country such as India

Group 3

  1. The Costs and Benefits of Well-Functioning International Capital Markets
  2. International Monetary Arrangements Today

 

Source: Institute Archives and Special Collections, MIT Libraries. Charles Kindleberger Papers, Box 22, Folder “Examinations International Economics 1959-75”.

Image Source: Boston Public Library, Tichnor Brothers Postcard Collection. Massachusetts Institute of Technology, Cambridge, Mass. Tichnor Bros. Inc., Boston, Mass., 1930.