King’s College London

This paper is part of an examination of the College counting towards the

award of a degree. Examinations are governed by the College Regulations
under the authority of the Academic Board.

BSC ECONOMICS, BA/BSC HISTORY & POLITICAL ECONOMY

4SSPP114 The World Economy and Its History

EXAMINATION PERIOD 2 (MAY 2022)

TIME ALLOWED: 24 HOURS

Word-Limit: Please be advised this exam has a word-limit of 2500

words maximum that may be submitted. Students are therefore
advised to split this equally between the questions.

PLEASE ANSWER TWO QUESTIONS.

ALL QUESTIONS CARRY EQUAL MARKS.

THE EXAMINATION DOES NOT REQUIRE THE USE OF CALCULATORS.

2022© King’s College London

4SSPP114 The World Economy and Its History

1. Is the consumption equivalent index a more advanced measure of

well-being than the human development index? Motivate your
answer.
2. How does the concept of ‘Kuznets’ waves’ help understand the
evolution of modern inequality?
3. Why did Britain industrialise and the poor periphery did not?
Consider the roles of the cost of factors of production (labour and
capital) and terms of trade in the ‘long 19th century’ (from the
industrial revolution to 1913).
4. Why did countries become protectionist during the Great
Depression?
5. Why did countries fail to catch up? Base your answer on the cases of
African and Latin American countries in the 20th century.
6. What were the economic consequences of past epidemics?