ECON3020 Final exam questions: Question One

37. ECON3020 Final exam questions. This assessment task is worth 40% of the overall mark in this unit.
You are given 6 questions and you must answer 4 of your choice (4 out of 6). Please respect a word limit of 400 words for each question. A gentle reminder that the Turnitin similarity report must be below 20%. Failure to comply with this submission rule will constitute a breach of integrity rules.
PLEASE READ THESE INSTRUCTIONS CAREFULLY:
(I) You are given 6 questions and you must answer 4 of your choice (4 out of 6).
(II) Please clearly indicate the questions you are addressing.
(III) Each question’s maximum marks are clearly reported.
(IV) Please respect the word limit as reported.
(V) A gentle reminder that the Turnitin similarity report must be below 20%.
Failure to comply with this submission rule will constitute a breach of integrity rules.
Question 1 (max 400 words, max 10 marks):
(i) Refer to the reading Howes, S. and P. Wyrwoll (2012) to discuss one key aspect of the Global Ecological Challenge that China is currently facing. (Max 5 marks)
(ii) Explain in your own words why China’s reliance on economic performance indicators
such as Gross Domestic Product may not help in achieving a solution to the global ecological challenge China is currently facing. (Max 5 marks)
Question 2 (max 400 words, max 10 marks):
(i) Using the material discussed in class explain in your own words how Adam Smith and
Karl Marx differ in their criticism of capitalism. (Max 5 marks)
(ii) Adam Smith proposes to rely on educated consumers to improve the social outcomes
stemming from capitalist economic organization. Explain. (Max 5 marks)
Question 3 (max 400 words, max 10 marks):
(i) Consider a rapidly developing economy such as Vietnam, with limited investment opportunities (low aggregate savings) and a large unskilled workforce. Under what conditions Vietnam’s integration in global modes of production may help reduce poverty and inequality? (Max 5 marks)
(ii) What are the main obstacles to business innovation Vietnam faces in global modes of production? (Max 5 marks)
Question 4 (max 400 words, max 10 marks):
(i) Consider the structure of the Indian economy, which comprises a large informal sector. How can the 4th Industrial Revolution positively impact on governments’ ability to
fiscally sustain their policies? (Max 5 marks)
(ii) How can India’s 4IR lead to a premature de-industrialisation and what labour market
implications would that have? (Max 5 marks)
Question 5 (max 400 words, max 10 marks):
(i) Explain in your own words why Japan currently faces a crisis of reproduction. (Max 5
marks)
(ii) Why does the crisis of reproduction in many Asian countries involve both waged and non-waged labour? (Max 5 marks)
Question 6 (max 400 words, max 10 marks):
(i) Consider the reading by Narula J (2019) discussed in class. Summarise in your own words the argument this article develops in the context of the need for labour standards applicable to Multinational Enterprises. (Max 5 marks)
(ii) Consider the case of Vietnam and the rise of new forms of employment that rely on precarious labour and digital platforms (e.g., Uber eats). Why do these recent developments
require new approaches to anti-trust regulation according to economists such as Kaushik Basu (2021)? (Max 5 marks)

The remarkable growth in economic activity that China has experienced in the past two decades, that has maintained an annual average of 8 percent or greater per year, has resulted in an astounding increase in standard of living for many Chinese people. As this has been happening however, the environment was severely affected because of the rapid economic growth that has occurred. The need for all kinds of resources such as water, land and energy, has increased significantly during the past few years (Economy 2017). The loss of forests has led to numerous disastrous consequences, such as the loss of species and the spreading of deserts as well as flooding. Furthermore, the absence of strict regulations imposed on the production of waste and emissions by households and industries is a major factor in the alarming increase in pollution of the air and water. As a result of China’s development policies and practices in the environment it is now one of the major environmental sludges at a global and regional scale. These concerns include acid rain, the loss of the layer of ozone climate changes on a global scale and disappearance of species. Cont…