THE UNIVERSITY OF THE WEST INDIES. EXAMINATIONS OF: APRIL/MAY 2014 CODE AND NAME OF COURSE: ECON 3051 — ECONOMIC DEVELOPMENT L DATE AND TIME: DURATION: 2 Hours INSTRUCTIONS TO CANDIDATES: This paper has | Page and 6 Questions. ANSWER ANY THREE (3) QUESTIONS. EACH QUESTION IS WORTH 25 MARKS, 1, What, in your opinion, are some of the most pressing global issues that have and continue to affect Caribbean countries? How should our Governments respond to the challenges posed? Have our Governments’ responses to date been adequate? For aay two (2) theories/models of economic growth and development, outline the main policy prescriptions and undertake a critical assessment of whether or not these theories can be applicd successfully in the context of the Caribbean, 3. In examining the policies and strategies pursued by various governments to grow and develop Caribbean economies, do you see any similarities with the approaches to economic development advocated by Meier and Seers? 4, A mejor characteristic of Caribbean countries is their reliance on one oF two key sectors to drive cooncmie activity. Do you think the countries should continue zlong that path given the resources at their disposal? Please answer this question with reference to the strengths and weaknesses of the ‘balanced and unbalanced growth strategies. 5. Tneconomie circles, trade plays an important role in promoting economic growth and development? How do you assess this statement? 6. Explain the meaning of the term “Sustainable Development.” As Caribbean countries seek to grow and develop along sustainable lines, what are some of the critical issue they would have to confront? END OF QUESTION PAPER