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    Drawing on your studies of economics, development, and emerging markets, it may be useful to think through the possible linkages between the reform of a specific sector and economy-wide indicators of interest, such as national economic growth, employment, inflation, poverty etc. Such lines of causation would provide structure to your argument and, in this case, ought to be adapted to the circumstances of the Indian economy and reform programme. The question encourages a comparison with the reforms that India began in 1991. You might want to dwell on how comparable the current round of reforms to those seen in 1991. The scale, trigger for, and consequences of reform episodes might or might not be the same and this might influence your assessment of the likely impact of the recently announced wave of Indian reforms.

     

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    The factors that determine collectively the national business environment are covered in many business and public policy school courses. Furthermore, many of the leading quantitative assessments of the national business environment provide some insight into which factors are changing the most and which factors have the greatest impact. Demonstrating a mastery of such material is one way to excel in answering this question, obviously to the extent that the answer is tailored to the actual circumstances of the ASEAN region. The question also invites you to compare across ASEAN members, which if done well typically sharpens comparisons and arguments made. The question is forward looking so you might want to dwell on the extent to which a country's recent trajectory provides a sensible basis to discuss the likely changes in the next five years.

     

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  • One of the central principals of central banks is to maintain stable and low inflation. However, in a national or global economic crisis, economic stimulus may become the main priority of governments and electorates. How effective or ineffective are changes of monetary policy by a central bank in the face of a financial crisis?

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