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ĐẠI HỌC KINH TẾ TP. HỒ CHÍ MINH – UNIVERSITY OF ECONOMICS HCMC CHƯƠNG TRÌNH VIỆT NAM – HÀ LAN ĐÀO TẠO CAO HỌC KINH TẾ PHÁT TRIỂN VIETNAM – THE NETHERLANDS PROGRAMME FOR M.A. IN DEVELOPMENT ECONOMICS YÊU CẦU KIỂM TRA ĐẦU VÀO: MÔN KINH TẾ HỌC Ứng viên dự tuyển chương trình VNP về Kinh tế Phát triển bắt buộc phải dự thi kiểm tra môn Kinh tế học. Nội dung ôn tập chủ yếu sẽ bao gồm các khái niệm rất căn bản trong cuốn sách “Principles of Economics” của tác giả Mankiw. Những kiến thức mang tính khái niệm trong cuốn sách này hầu hết đã được trang bị ở hai năm đầu tiên của bậc cử nhân của sinh viên các ngành kinh tế, quản trị, ngoại thương, tài chính, và ngân hàng ở các trường đại học khối kinh tế trong cả nước. Việc thi đầu vào môn Kinh tế học đã được duy trì từ khoá 1 đến khoá 20 của chương trình Cao học Việt Nam Hà Lan và sẽ được tiếp tục duy trì cho khoá 21 tuyển sinh vào năm 2014. MỤC TIÊU ÔN TẬP Những khái niệm kinh tế học căn bản cần thiết cho kỳ thi tuyển bao gồm các khái niệm kinh tế vi mô và những khái niệm kinh tế vĩ mô ở bậc đại học. Ứng viên sẽ tham dự một khóa ôn tập ngắn hạn được tổ chức ngoài giờ hành chính về kinh tế học, thời gian dự kiến là 48 tiết (tổng cộng 12 buổi). Mục đích của khoá ôn tập là: Tóm tắt các nội dung chủ yếu: chương trình ôn tập sẽ giới hạn các chủ đề cần thiết nhằm tiết kiệm thời gian của các ứng viên tham gia dự tuyển. Tạo bước đệm ôn lại các thuật ngữ bằng tiếng Anh để ứng viên dễ dàng theo học chương trình Cao học được thực hiện hoàn toàn bằng tiếng Anh. Tạo bước chuyển tiếp để các ứng viên dễ dàng tiếp cận các kiến thức chuyên sâu về kinh tế và những môn học chuyên sâu khác như tài chính công ty, tài chính quốc tế, quản trị rủi ro, hay thẩm định dự án của giai đoạn chính khóa chương trình cao học Việt Nam – Hà Lan. NỘI DUNG ÔN TẬP Nội dung ôn tập không bao gồm toàn bộ nội dung trong cuốn sách mà trọng tâm bao gồm các chương cụ thể dưới đây: 1. Chapter 3: Interdependence and the Gains from Trade 2. Chapter 4: The market forces of supply and demand 3. Chapter 5: Elasticity and its application 4. Chapter 7: Consumers, Producers and the Efficiency of markets 5. Chapter 10: Externalities 6. Chapter 13: The cost of production 7. Chapter 14: Firms in competitive markets 8. Chapter 15: Monopoly 9. Chapter 16: Monopolistic Competition 10. Chapter 21: The theory of consumer choice 11. Chapter 23: Measuring a nation’s income 12. Chapter 24: Measuring the cost of living 1 13. Chapter 28: Unemployment 14. Chapter 29: The monetary system 15. Chapter 30: Money growth and Inflation 16. Chapter 33: Aggregate demand and Aggregate supply 17. Chapter 34: The influence of monetary and fiscal policy on aggregate demand NỘI DUNG CHÍNH VÀ CÁCH THỨC ÔN TẬP Ứng viên nên tập trung kiểm tra lại việc hiểu các khái niệm nêu ở các phần cuối của mỗi chương của cuốn sách (phần này được gọi là Key Concepts.) Chapter 3: Interdependence and the Gains from Trade Key concepts: Absolute advantage Comparative advantage Opportunity cost Exports Imports Chapter 4: The market forces of supply and demand Key concepts: Market Inferior good Equilibrium Competitive market Substitutes Equilibrium price Quantity demanded Complements Equilibrium quantity Law of demand Quantity supplied Surplus Demand schedule Law of supply Shortage Demand curve Supply schedule Law of supply and demand Normal good Supply curve Chapter 5: Elasticity and its application Key concepts: Elasticity 2 Income elasticity of demand Price elasticity of supply Price elasticity of demand Total revenue Cross-price elasticity of demand Chapter7: Consumers, Producers and the Efficiency of markets Key concepts: Welfare economics Cost Equality Willingness to pay Producer surplus Consumer surplus Efficiency Chapter 10: Externalities Key concepts Externality Corrective tax Internalizing the externality Coase theorem Transaction costs Chapter 13: The cost of production Key concepts Total revenue Total cost Profit Explicit costs Implicit costs Economic profit Accounting profit Production function Marginal product Diminishing marginal product Fixed costs Variable costs Average total cost Average fixed cost Average variable cost Marginal cost Chapter 14: Firms in competitive markets Key concepts Competitive market 3 Average revenue Marginal revenue Sunk cost Chapter 15: Monopoly Key concepts Monopoly Natural monopoly Price discrimination Chapter 16: Monopolistic Competition Key concepts Oligopoly Monopolistic competition Chapter 21: The theory of consumer choice Key concepts Budget constraint Indifference curve Marginal rate of substitution Perfect substitutes Perfect complements Normal good Inferior good Income effect Substitution effect Giffen good Chapter 23: Measuring a nation’s income Key concepts Gross domestic product Consumption Investment Government purchases Net exports Nominal GDP Real GDP GDP deflator Chapter 24: Measuring the cost of living Key concepts Consumer price index Inflation rate Producer price index Indexation 4 Nominal interest rate Real interest rate Chapter 28: Unemployment Labor force Unemployment rate Labor-force participation rate Natural rate of unemployment Cyclical unemployment Frictional unemployment Structural unemployment Job search Unemployment insurance Efficiency wages Chapter 29: The monetary system Key concepts Money Medium of exchange Unit of account Store of value Liquidity Commodity money Fiat money Currency Demand deposits Federal Reserve Central bank Money supply Monetary policy Reserves Fractional-reserve banking Reserve ratio Money multiplier Open - market operations Reserve requirement Discount rate Federal funds rate Chapter 30: Money growth and Inflation Key concepts Quantity theory of money Nominal variables Real variables Classical dichotomy 5 Monetary neutrality Velocity of money Quantity equation Inflation tax Fisher effect Shoesleather costs Menu cost Chapter 33: Aggregate demand and Aggregate supply Key concepts Recession Depression Model of aggregate demand and aggregate supply Aggregate-demand curve Aggregate-supply curve Natural rate of output Stagflation Chapter 34: The influence of monetary and fiscal policy on aggregate demand Key concepts Theory of liquidity preference Fiscal policy Multiplier effect Crowding-out effect Automatic stabilizers Việc tập trung kiểm tra lại các khái niệm nêu ở phần “Key concepts” sẽ giúp cho ứng viên tiết kiệm thời gian, và những khái niệm này sẽ giúp chúng ta thuận lợi hơn trong quá trình chính khoá của chương trình cao học được giảng dạy chuyên sâu bằng tiếng Anh. CÁCH THỨC KIỂM TRA Ứng viên chủ yếu trả lời theo kiểu trắc nghiệm, hàng năm trong kỳ thi tuyển sẽ có khoảng 40 câu trắc nghiệm kiểm tra kiến thức của các ứng viên ở phần “Key concepts” ở các nội dung đã nêu. Ứng viên sẽ trình bày ý tưởng tóm tắt những câu hỏi mở liên quan đến kinh tế Việt Nam trong thời gian gần nhất. Những chủ đề này trong năm 2014 có thể bao gồm các chủ đề thời sự ở Việt Nam như: lạm phát, tăng trưởng xanh, chính sách tiền tệ, ngoại thương, đầu tư nước ngoài, tái cấu trúc thị trường tài chính, môi trường, biến đổi khí hậu…Các ứng viên sẽ được cung cấp trước những tư liệu liên quan đến các chủ đề “nóng” của nền kinh tế liên quan đến câu hỏi mở đã nêu để có thời gian chuẩn bị trước khi dự thi. Tuy nhiên câu hỏi mở liên quan đến chủ đề sẽ hoàn toàn được giữ kín cho đến lúc thi tuyển chính thức môn Kinh Tế Học. 6 ĐỀ THI CÁC NĂM TRƯỚC Ứng viên có thể liên hệ chương trình cao học Việt Nam – Hà Lan để mua tài liệu ôn tập và các đề thi của các khoá trước. Phần dưới đây là đề thi của khoá 21 năm 2014 để tham khảo trực tiếp. ENTRANCE EXAMINATIONS IN ECONOMICS Multiple Choice Questions Exam Code: 236 – Exam time: 90 minute Q. 1: Food and clothing tend to have a. large income elasticities because they are relatively inexpensive. b. small income elasticities because consumers buy proportionately more of both goods at higher income levels than they buy at low income levels. c. small income elasticities because consumers, regardless of their incomes, choose to buy relatively constant quantities of these goods. d. large income elasticities because they are necessities. Q. 2: Refer to the Figure below: Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B? a. an increase in the availability of capital-producing resources c. a general technological advance b. a decrease in unemployment d. a technological advance in the consumer-goods industries Q. 3: Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time. Which of the following explanations would be most consistent with this observation? a. The price of chicken has risen and the price of steak sauce has fallen. b. Consumers have experienced an increase in income and beef-production technology has improved. c. The demand curve for beef must be positively sloped. d. New medical evidence has been released that indicates a negative correlation between a person’s beef consumption and his or her longevity. Q. 4: Suppose roses are currently selling for $40.00 per dozen, while the equilibrium price of roses is $30.00 per dozen. We would expect a a. shortage to exist and the market price of roses to decrease. c. shortage to exist and the market price of roses to increase. b. surplus to exist and the market price of roses to increase. d. surplus to exist and the market price of roses to decrease. Q. 5: When the nation of Econoland allows trade and becomes an exporter of televisions, a. residents of Econoland who produce televisions become worse off; residents of Econoland who buy televisions become better off; and the economic well-being of Econoland falls. b. residents of Econoland who produce televisions become better off; residents of Econoland who buy televisions become worse off; and the economic well-being of Econoland falls. c. residents of Econoland who produce televisions become better off; residents of Econoland who buy televisions become worse off; and the economic well-being of Econoland rises. 7 d. residents of Econoland who produce televisions become worse off; residents of Econoland who buy televisions become better off; and the economic well-being of Econoland rises. Q. 6: There are very few, if any, good substitutes for motor oil. Therefore, a. the demand for motor oil would tend to respond strongly to changes in prices of other goods. b. the supply of motor oil would tend to respond strongly to changes in people’s tastes for large cars relative to their tastes for small cars. c. the demand for motor oil would tend to be inelastic. d. the demand for motor oil would tend to be elastic. Q. 7: What will happen to the equilibrium price and quantity of new cars if the price of gasoline rises, the price of steel rises, public transportation becomes cheaper and more comfortable, and auto-workers negotiate higher wages? a. Price will rise and the effect on quantity is ambiguous. c. Quantity will rise and the effect on price is ambiguous. b. Quantity will fall and the effect on price is ambiguous. d. Price will fall and the effect on quantity is ambiguous. Q. 8: If the world price of textiles is higher than Vietnam’s domestic price of textiles without trade, then Vietnam a. should refrain altogether from producing textiles. c. should import textiles. b. should produce just enough textiles to meet its domestic demand. d. has a comparative advantage in textiles. Q. 9: Suppose a producer is able to separate customers into two groups, one having an inelastic demand and the other having an elastic demand. If the producer's objective is to increase total revenue, she should a. increase the price charged to customers with the elastic demand and decrease the price charged to customers with the inelastic demand. b. increase the price for both groups of customers. c. charge the same price to both groups of customers. d. decrease the price charged to customers with the elastic demand and increase the price charged to customers with the inelastic demand. Q. 10: Which of the following expressions is valid for the price elasticity of demand? Q1 Q2 / Q2 Q1 / 2 a. Price elasticity of demand = P1 P2 / P2 P1 / 2 Q2 Q1 / Q1 Q2 / 2 Price elasticity of demand = P2 P1 / P1 P2 / 2 b. P1 P2 / P2 P1 / 2 Price elasticity of demand = Q1 Q2 / Q2 Q1 / 2 c. P2 P1 / P1 P2 / 2 Price elasticity of demand = Q2 Q1 / Q1 Q2 / 2 d. Q. 11: To increase living standards, public policy should a. move workers into jobs directly from high school. b. ensure a greater degree of equity, taking all income-earners into account. c. ensure that workers are well educated and have the necessary tools and technology. d. make unemployment benefits more generous. Q. 12: Let L represent the number of workers hired by a firm and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 12, Q = 122) and (L = 13, Q = 132). Then the marginal product of the 13th worker is a. 132 units of output. b. 10 units of output. c. 122 units of output. d. 8 units of output. Q. 13: Given the market for illegal drugs, when the government is successful in reducing the flow of drugs into the United States, a. supply decreases, demand increases, and price increases substantially as a result. b. supply decreases, demand is unaffected, and price increases. c. demand decreases, supply is unaffected, and price decreases. d. demand and supply both decrease, leaving price essentially unchanged. 8 Q. 14: When there is a technological advance in the ice cream industry, consumer surplus in that market will a. not change, since technology affects producers and not consumers. c. decrease. b. increase. d. not change, since consumers’ willingness to pay is unaffected by the technological advance. Q. 15: Refer to the Figure below: Which of the curves is most likely to represent average fixed cost? a. A b. D c. C d. B Q. 16: For a seller, which of the following quantities are not positively related? a. the price of the good and the seller's profit c. the seller's profit and quantity supplied b. the seller's profit and production costs d. the price of the good and quantity supplied Q. 17: A typical society strives to get the most it can from its scarce resources. At the same time, the society attempts to distribute the benefits of those resources to the members of the society in a fair manner. In other words, the society faces a tradeoff between a. efficiency and equity. b. work and leisure. c. guns and butter. d. inflation and unemployment. Q. 18: Refer to the Figure below: A binding price ceiling is shown in a. both panel (a) and panel (b). c. panel (a) but not panel (b). b. panel (b) but not panel (a). d. neither panel (a) nor panel (b). Q. 19: If education produces external benefits for society, which of the following might NOT be an appropriate policy for society to adopt regarding education? a. public subsidies of education c. mandatory minimum levels of education b. tax incentives for schooling d. programs which promote the hiring of high school dropouts Q. 20: Refer to the Figure below: 9 Ben has a comparative advantage in a. both goods and Jerry has a comparative advantage in neither good. b. ice cream and Jerry has a comparative advantage in cones. c. cones and Jerry has a comparative advantage in ice cream. d. neither good and Jerry has a comparative advantage in both goods. Q. 21: Fiscal policy refers to the idea that aggregate demand is changed by changes in a. the money supply. b. government spending and taxes. c. trade policy. d. All of the above are correct. Q. 22: Let 2004 be the base year; then CPI in 2005 CPI in 2004 100. a. Inflation rate in 2005 = CPI in 2005 CPI in 2005 CPI in 2004 100. Inflation rate in 2005 = CPI in 2004 b. Inflation rate in 2005 = CPI in 2004 CPI in 2005 100. CPI in 2005 Inflation rate in 2005 = CPI in 2004 CPI in 2005 100. CPI in 2004 c. d. Q. 23: Suppose that the United States unexpectedly decided to pay off its debt by printing new money. Which of the following would happen? a. People who had lent money at a fixed interest rate would feel poorer. c. Prices would rise. b. People who held money would feel poorer. d. All of the above are correct. Q. 24: Which of the following serves as an example of the underground or “shadow” economy? a. A teenager babysits regularly and fails to report her income. c. A man sells illegal drugs and fails to report his income. b. A woman barters home repairs with her neighbor. d. All of the above are correct. Q. 25: Recession come at a. irregular intervals. During recessions consumption spending falls relatively more than investment spending. b. regular intervals. During recessions consumption spending falls relatively more than investment spending. c. irregular intervals. During recessions investment spending falls relatively more than consumption spending. d. regular intervals. During recessions investment spending falls relatively more than consumption spending. Q. 26: If the unemployment rate rises, which policies would be appropriate to reduce it? a. increase the money supply, cut taxes c. increase the money supply, increase taxes b. decrease the money supply, increase taxes d. decrease the money supply, cut taxes Q. 27: Recessions are associated with which of the following? a. falling profits b. increased bankruptcies c. falling output d. All of the above are correct. Q. 28: If the government raises government expenditures, in the short run, prices a. rise and unemployment falls. c. and unemployment rise. b. and unemployment fall. d. fall and unemployment rises. Q. 29: Fluctuations in employment and output result from changes in a. neither aggregate demand nor aggregate supply. c. aggregate demand and aggregate supply. 10 b. aggregate demand only. d. aggregate supply only. Q. 30: Which of the following explains why production rises in most years? a. increases in the labor force c. increases in the capital stock b. advances in technological knowledge d. All of the above are correct. Q. 31: Which of the following is the correct way to figure the future value of $100 put in an account that earns 4 percent for 10 years? a. $100(1 + .04 × 10) c. $100(1 + .0410) d. $100 x 10 x (1 + .04) b. $100(1 + .04)10 Q. 32: The Economic Development Minister of a country has a list of things she thinks may explain her country's low growth of real GDP per person relative to other countries. She asks you to pick the one you think most likely explains her country's low growth. Which of the following contributes to low growth? a. outward oriented trade policies. c. policies that permit foreign investment. b. poorly enforced property rights. d. All of the above are correct. Q. 33: If there is a trade deficit, then a. saving is less than domestic investment and Y < C + I + G. b. saving is greater than domestic investment and Y > C + I + G. c. saving is greater than domestic investment and Y < C + I + G. d. saving is less than domestic investment and Y > C +I + G. Q. 34: Suppose a small economy produces only cheese and fish. In 2005, 20 units of cheese are sold at $5 each, and 8 units of fish are sold at $50 each. In 2004, the base year, the price of cheese was $10 per unit, and the price of fish was $75 per unit. For 2005, a. nominal GDP is $800, real GDP is $500, and the GDP deflator is 160. b. nominal GDP is $500, real GDP is $800, and the GDP deflator is 62.5. c. nominal GDP is $500, real GDP is $800, and the GDP deflator is 160. d. nominal GDP is $800, real GDP is $500, and the GDP deflator is 62.5. Q. 35: In the equation Y = C + I + G + NX, a. all of the variables are always positive numbers. c. C represents household expenditures on services and durable goods. b. Y represents the economy’s total expenditure. d. All of the above are correct. Q. 36: The slope of the production function with capital per worker on the horizontal axis and output per worker on the vertical axis a. is negative and gets steeper as capital per worker rises. c. is negative and gets flatter as capital per worker rises. b. is positive and gets flatter as capital per worker rises. d. is positive and gets steeper as capital per worker rises. Q. 37: Suppose that a new government is elected in Tempestia. The new government takes steps toward improving the court system and reducing government corruption. The citizens of Tempestia find these efforts credible and outsiders believe these changes will be effective and long lasting. These changes will probably a. raise neither productivity nor real GDP per person in Tempestia. c. raise real GDP per person but not productivity in Tempestia. b. raise real GDP per person and productivity in Tempestia. d. raise productivity but not real GDP per person in Tempestia. Q. 38: In a certain economy in 2005, government purchases exceeded investment by $2,000; investment amounted to 1/6 of GDP; consumption amounted to 1/2 of GDP; and the economy’s imports exceeded its exports by $500. It follows that GDP amounted to a. $9,000. b. $4,500. c. $10,500. d. $7,500. Q. 39: Refer to the Figure: 11 If the money supply is MS2 and the value of money is 2, a. the quantity of money supplied is greater than the quantity of money demanded. b. the price level is higher than its equilibrium level. c. the value of money is less than its equilibrium level. d. the quantity of money demanded is greater than the quantity of money supplied. Q. 40: An important difference between the GDP deflator and the consumer price index is that a. the GDP deflator reflects the prices of all final goods and services produced by a nation's citizens, whereas the consumer price index reflects the prices of final goods and services bought by consumers. b. the GDP deflator reflects the prices of all final goods and services produced domestically, whereas the consumer price index reflects the prices of some goods and services bought by consumers. c. the GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers. d. the GDP deflator reflects the prices of all goods and services bought by producers and consumers, whereas the consumer price index reflects the prices of final goods and services bought by consumers. SECTION 2: ESSAYQUESTIONS 1.1 Explain the difference between absolute advantage and comparative advantage? 1.2 What is the difference between monetary policy and fiscal policy? 2.1 Using a supply-demand diagram, show a labor market with a binding minimum wage which is higher than Equilibrium wage. Now, use the diagram to show those who are helped by the minimum wage, and those who are hurt by the minimum wage. 2.2 The table below uses data for the year 2003 provided by the BLS and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table. Show your work! Country Japan France Germany Adult Population 109,474 70,159 Labor Force 26,870 39,591 Employed 62,510 Unemployed 3,500 2,577 Unemployment Rate Labor-Force Participation Rate 57.41 9.69 3. Discuss why GDP growth in Vietnam has been slow in the recent years and advise which policies that government should do to improve the economic growth in the coming years? Hints: you could discuss the performance of investment, exports, and government expenditure. 12 4. Discuss how the government improves investment conditions in order to maintain Vietnam being a good destination for foreign investors? Hints: you may discuss some important areas such as hard infrastructure (ie: transportation system, electricity . . .), education as well as skill labor force, and administration of the government sector. . . 13