Economics Paper II Past Paper 2024
Recent shocks shape the Economics Paper II past paper 2024. Q.2 separates economic growth from economic development and lists the measures of both. Q.3 faces the inflation peak of FY23 and asks for monetary and fiscal action. Q.4 weighs the 1972 Nationalization Act for Pakistan’s economy. Q.5 asks what policy can revive the green revolution in Pakistan. Q.6 describes the IMF financial assistance programme, its objectives and its record. Q.7 reads the Labour Force Survey 2020-21 for employment and female participation. Q.8 closes with short notes on two listed topics. The file on this page holds both parts of the paper, the MCQ sheet and the Part-II sheet.
What this paper contains
- This file carries both parts of the paper: the Part-I MCQ sheet and the Part-II sheet.
- Part-I (Q.1) — 20 MCQs on the OMR Answer Sheet (20 marks)
- Part-II — attempt any FOUR questions from Q.2–Q.8; each question carries 20 marks
Part-II questions
Q.2 — Differentiate between the “Economic growth” and “Economic Development”. Explain various measures of both. (20)
Q.3 — During FY23, inflation in Pakistan has touched its highest peak over the 75 years. Describe in brief the factors behind this high inflation and explain the monetary and fiscal policy actions to improve upon the situation. (20)
Q.4 — Pakistan Nationalization Act was promulgated in year 1972. Discuss its advantages and disadvantages on Pakistan Economy. (20)
Q.5 — Pakistan has experienced “Green Revolution” in mid 1960s. What are the main determinants of Green Revolution? Explain the essential policy actions needed, if we want to revive again the “Green revolution” in Pakistan. (20)
Q.6 — Describe in brief the IMF’s Financial Assistance program, its objectives and stringent conditionalities. Does it helpful in resolving the balance of payments problems and structural issues of a heavily indebted less developed countries like Pakistan? (20)
Q.7 — According to the Labor Force Survey (LFS) 2020-21, overall employment to population ratio is 42.1 percent and this ratio is higher in male (64.1 percent) as compared to female (19.4 percent). (20)
(i) Explain what are the main reasons behind the female low employment levels in Pakistan?
(ii) Suggest the policy actions and reforms to increase the female labor force participation in the economy.
Q.8 — Write short notes on any TWO of the following: (10 each) (20)
(i) Cities are engine of economic growth
(ii) Russia-Ukraine war and supply shocks
(iii) Pakistan’s inefficient state-owned enterprises
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