UNIVERSITY OF GHANA

(All rights reserved)

DEPARTMENT OF ECONOMICS

B.A. FIRST SEMESTER EXAMINATIONS: 201612017

ECON 467: ECONOMIC PLANNING I (3 Credits)

INSTRUCTION: ANSWER QUESTION 1 AND ANY TWO OTHER QUESTIONS

TIME ALLOWED: TWO AND A HALF (2Yz) HOURS

Question 1 carries 30 marks, while all other questions carry 20 marks each

Question 1 (Compulsory)
As a student of Economic Planning, the National Development Planning Commission has
hired you to assist its Planning Division with its operations. Your first task is to
contribute to a document that explains to the President and his cabinet ministers why it is
important for Ghana to undertake economic planning. Provide a write-up of your
contribution. (30 marks)
Question 2
Write brief notes on the following:

a. Elements of economic planning (10 marks)

b. The difference between medium-term plans and short-term plans (5 marks)
c. The difference between planning by direction and planning by inducement
(5 marks)

Question 3
Why should economic planners be interested in theories of economic growth?
(20 marks)

Question 4
To what extent is the Solow growth model superior to the Harrod-Domar model?
(20 marks)

Question 5

Critically examine the major challenges to the successful formulation and execution of
economic planning in developing countries. (20 marks)
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Examiners: Dr. M Lambon-Quayefio and Dr. L. Boakye-Yiadom