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:-
Explain the concept of "tableu Economique" as propounded by the physiocrats. (5 marks,50 words question)
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)
"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)
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-