1. The Ministry of Industry and Trade wants to review the Youth Entrepreneurial Scheme (YES) implemented by the Ministry some five years ago.

(a) Develop a research question to address the impact of the programme in the national income, export trade, local employment and GDP growth.

(b) Outline your dependent variable (DV) and the independent variables (IV) from the research question.

(c) Construct a simple economic model and econometric model and identify the parameters to be estimated.

2. The Ministry of Education wants to know whether entrepreneurial education affects students' decision to start a business rather than seeking for employment.

(a) Construct a research question based on the scope.

(b) Develop a suitable economic model with at least three independent variables.

(c) Based on (b), define how you measure the variables and construct an econometric model which contains an error term or disturbance.

(d) Give reasons as to why the random error exists.

(e) If data is non-parametric, what technique or test will you consider?

3. To ensure that an appropriate analysis is carried out, it is important to develop research questions to drive the study. Please construct a research question that relates to any of these topics: inflation, money supply, production and trade.

(a) A descriptive question and what type of analysis you can use.

(b) A correlational/predictive question and what type of analysis you can use.

(c) A cause and effect question and examples of analysis which can be used.

(d) A group differences question and what type of analysis which can be used.