This post is on topic 1 of the General Economics II of the IES
examination.
Let's go through the questions in the past 4 years:-
2009-
Explain the concept
of "tableu Economique" as propounded by the physiocrats. (5 marks,50
words question)
2010-
State briefly the key propositions
of Monetarist School of Macro Economics. (15 marks,150 words)
Examine the circumstances that gave
rise to the mercantilism and those that brought about its decay. Is the world
going back to mercantilism in a new form? (30 marks, 500 words)
2011-
"Adam Smith's concept of 'Invisible Hand' teaches us that
everything in an economy can be left to market forces." Discuss. (15 marks,150
words)
2012-
What were the mercantilist's views on trade? How does
their concept of national wealth differ from today's view?
A mastery in this section can also equip us to supplement our
answers for questions from other parts of the paper, apart from the direct
questions from this section. An example of such a question is the
following-