basically we need to write few essays for the questions about readings we have done. I have attached all the reading list along with readings. you dont have to read them all, just in case you need them. and please please do read the exam instructions and questions carefully.

Here are some links maybe helpful with the paper:

http://hdr.undp.org/en/statistics/index.html#hdirank
http://hdr.undp.org/en/data/trends/
http://www.coha.org/is-microcredit-the-answer-or-an-answer-for-latin-america/ (Glenwick, Is Microcredit the Answer?)
http://www.bized.co.uk/virtual/dc/back/econ.htm (read sections 3-6)

GENERAL INSTRUCTIONS: In these essays, YOU MUST DRAW AS MUCH AS POSSIBLE DIRECTLY ON COURSE READINGS, and cite your sources for ideas and data (you can simply put the author-date-page nos. in parentheses).  Write the essay in Section I, one of the essays in Section II, and one of the essays in Section III (100 points total); there is also a 4-point extra-credit question at the end.

I. Required essay on IV.C. “Primary Export-Led Development: Who Gains?” (20 points)
Todaro and Smith argue that “we need to examine the implicit notion that if developing countries benefit from trade, it is the people of these countries who reap the benefits” (p. 590).  Pick one of the three primary product categories discussed in these readings: agriculture, oil, or mining. In a brief (one-page) essay, summarize what the assigned material tells you about “who gains” from these exports in the cases examined.

II. Write a 2-3 page essay on ONE of the following. Be thorough but concise; include diagrams where appropriate.  (40 points)
According to the readings, what were the main successes and problems experienced by developing countries following import-substitution industrialization (ISI) policies from the 1950s to the 1970s?  Why did ISI supporters believe that the “twin deficits” were inevitable but likely to be temporary?

Why did early development economists see international financial inflows (aid, lending, portfolio and direct foreign investment) as positive for LDC economic development?  In what ways have they turned out to be problematic?  Discuss criticisms presented in course readings, in terms of the ways in which these inflows have been used, and their connection to financial crises in the developing countries (include Hyatt’s “web of control” concept and dependency theory’s “surplus drain”/ “unequal exchange” concepts).
III. Write a 2-3 page essay on ONE of the following. Be thorough but concise; include diagrams where appropriate.  (40 points)

1.    Explain comparative advantage trade theory, using a production possibilities diagram to show the projected gains from the more favorable international terms of trade.  Critics argue that countries relying on primary exports will experience problems of fluctuating and declining terms of trade.  Explain the theory and evidence behind these arguments, and how these problems can reduce the gains from primary export trade.

2.    Proponents argue that exports of primary products can serve as an “engine of growth and development” for developing countries, helping to diversify the economy and shift the production possibilities out.  Explain how this might come about, and give some examples.  Critics argue that the long-term diversification and development effects of these primary exports are problematic: many obstacles can limit their positive impact.   What are the obstacles discussed in the readings, and how might they negatively affect the country’s development?  Give some examples to illustrate these points.

Manufactured exports may hold more promise as an engine of growth for developing countries than primary exports.  However, not all manufactures are the same.  Explain the distinction between low value-added assembly (maquila) industries and high value-added manufactures.  What are the advantages and disadvantages of the former for developing countries (including the labor force)?  Why are the long-term development prospects of these assembly industries problematic?  Does it matter whether they are in low-technology (e.g. garments) or high-technology (e.g. electronics) products?  Give examples from the readings to support your arguments.

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