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NATIONAL OPEN UNIVERSITY OF NIGERIA
UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JUNE/JULY 2018 EXAMINATION
COURSE CODE: BFN302
CREDIT UNIT: 3
COURSE TITLE: MONETARY THEORY AND POLICY
TIME ALLOWED: 3 HOURS
Instructions:
- Question number 1 is compulsory and carries 25 marks while the other 3 questions carry 15 marks each. Present all your points in coherent and orderly manner.
- Attempt question number one (1) and any other three (3).
1. Discuss the followings and mention two (2) functions each
- The Nigerian Deposit Insurance Corporation (NDIC)
- The Securities and Exchange Commission (SEC)
- The Central Bank of Nigeria (CBN)
- The Insurance Company
- The concept of Money (25 marks)
2. Write short notes on the following concepts within the operations of the financial system
- Open Market Operations
- Moral Suasion
- Expansionary Monetary Policy
- Contractionary Monetary Policy
- Financial Market
- Call Money
- Money Market
- Capital market
(15 marks)
3a. Discuss International Trade and four (4) benefits derived from it.
3b. State four (4) distinctive features between Domestic Trade and International Trade
(15 marks)
4a. Discuss the three (3) main accounts of the Balance of Payment (BOP)
4b.Discuss two (2) functions of Public Finance in Nigeria (15 marks)
5a. Discuss three main roles of the Budget
5b. Define the following terms:
i. National Income
ii. Personal Income
Iii.Economic growth
iv. Fiscal Policy (15 marks)
6a. Discuss Four (4) general ways in which inflation can be controlled in Nigeria
6b. Explain the concept of Trade by Barter (15 marks)
