NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF SCIENCES
APRIL/MAY 2019 EXAMINATION

COURSE TITLE:     DEVELOPMENT ECONOMICS

COURSE CODE:      ECO 347

CREDIT UNIT:         2

TIME ALLOWED:   2 HOURS

INSTRUCTIONS:     ANSWER ANY THREE (3) QUESTIONS. ALL QUESTIONS CARRY EQUAL MARKS. ONE MARK FOR CLARITY AND GOOD PRESENTATION

QUESTION 1

(a)         What is Economic Growth? (8 marks)

(b)       Explain three reasons why economic growth should be studied. (15 marks)

QUESTION 2

(a)        Differentiate between economic growth and economic development. (8 marks)

(b)       List and explain the different ways development can be measured? (15 marks)

QUESTION 3

Environmental degradation is harmful to the human health and can also affect economic activities negatively. What are the policy measures put in place to address it in your country? (23 marks)

 QUESTION 4

(a)        Explain what you understand by “obstacles to development”. (5 marks)

(b)       Explain the characteristics of modern economic growth as given by Kuznets. (18 marks)

QUESTION 5

(a)        Based on Harrod-Domar model, explain the major factors necessary for economic growth to be achieved. (11 marks)

 (b)      Outline three assumptions of Arthur LewisÂ’ dual-sector model. (12 marks)