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Specialization Paper:Economics February 2011 Question Paper

Specialization Paper:Economics February 2011

Course:Doctor Of Philosophy

Institution: Kabarak University question papers

Exam Year:2011

KABARAK UNIVERSITY
UNIVERSITY EXAMINATIONS
2010/2011 ACADEMIC YEAR

INSTRUCTIONS:
Answer Any FOUR Questions

1. Using microeconomic consumer theory explain:
a) How a worker allocates his/her time between work and leisure when wage rate increases.
(5 Marks)
b) Using income and substitution effect show why an employer may devote less time to work
when income increases. (5 Marks)
c) Differentiate between hicksian and marshallian demand curves. (5 Marks)

2. The government of Kenya has in the past years increased its expenditure in the education sector.
Critically evaluate its contribution to productivity and growth in the economy. (15 Marks)

3. Using game theory, discuss the oligopolistic behaviour of firms in the Kenyan petroleum market
and the role of product differentiation. (15 Marks)

4. To improve the welfare of the general population, the government of Kenya in the past has reduced
taxes of certain essential goods. Discuss why prices of such commodities whose taxes were
reduced have not been adjusted downward? Explain if the policy decision was effective?
(15 Marks)

5. Discuss the monetary policy tools employed by the Central Bank of Kenya over the past five years
and their effectiveness in achieving its policy objectives. (15 Marks)

6. Discuss the use of General Computable equilibrium model in Kenyan Government policy markers
in Kenya over the past decade. (15 Marks)

Specialization Paper:Economics February 2011 Question Paper

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