Question 1a

Analyze the economic impacts and welfare changes with diagrams.
How does this differ if Country X is a large country?
(Note: There is no need for numerical illustrations here. In other words, exact numbers are not required.) (Word limit: 450 words)

Question 1b
In relation to this case of fossil fuel imports, do you think a quota is justified?
In addition, do you think a quota or tariff is a more effective form of trade restriction here? Discuss.

(Note: You can, but are not required to, include diagrams for this question) (Word limit: 400 words)

ECO203 Copyright © 2023 Singapore University of Social Sciences (SUSS)
ECA – July Semester 2023 Page 9 of 9

Question 2

Suppose the 2022 Qatar World Cup attracted football fans and tourists from all over the world, resulting in a large Balance of Payment surplus. However, the stock market recently also showed signs of rapid decline and signals an upcoming economic recession.

Question 2a

Given this hypothetical scenario, what macroeconomic policy should the government of Qatar adopt? Discuss. (Word limit: 500 words)

Question 2b

Why do you think the Swiss franc is generally considered one of the most stable currencies in the world? Do you think this is due to its exchange rate system? Discuss. (Word limit: 150 words)

Section B 

Answer all questions in this section.

Question 3

For Question 1b, prepare a video recording of the presentation of at least 3 minutes but not exceeding 6 minutes. There are two methods for ECA video assignment submission; either Record Media or Upload Media. For Upload Media, please note that your file size should be no more than 500MB and the format is in .mp4.
(25 marks)
Section C (10 marks) Answer all questions in this section.

Question 4

Prepare a set of PowerPoint presentation slides upon which the video presentation is based. Please note that the PowerPoint must be converted to PDF before submission to Canvas.