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The image shows a Tutor Marked Assignment for the course MEC-006/106: Public Economics. The assignment is divided into two sections, A and B, with a total of 100 marks. Section A contains two questions, each requiring an answer of about 700 words and carrying 20 marks each. Section B contains five questions, each requiring an answer of about 400 words and carrying 12 marks each.
Section A:
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- (i) “The overall welfare of the society essentially depends on the individual utility level”. In the light of this statement, explain the various approaches of social welfare functions. How does public intervention can meet the problems associated with negative externalities?
(ii) Explain with example how collective decision making is distinct from individual decisions making? On what basis an individual ranks various social state?
- What do you mean by the term “market failure”? Give an account of the factors causing market failure? What kind of state intervention is required to address the problems associated with Monopoly Power?
Section B:
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- State the features of local public goods and services. Do you think that ‘citizens- consumer choice’ is ignored by the local governments? Give illustration.
- Distinguish between public expenditure and private expenditure. To what extent public expenditure should be incurred? Explain the theory of maximum social advantages advanced by H. Dalton in this regard.
- Write short note on following:
(i) Global peace index
(ii) Nash equilibrium
(iii) Dual federalism
(iv) Sink Costs - What is fiscal deficit? Explain the various ways through which fiscal deficit is financed.
- What do you understand by the term “Macro Economic instabilities”? Which policy instruments would you like to suggest for stabilising an economy suffering from macroeconomics shocks?
MEC-007: International Trade and Finance
Tutor Marked Assignment
Course Code: MEC-007/106
Total Marks: 100
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- Critically discuss the Ricardian theory of Comparative Advantage. How is it different from Adam Smith’s theory of Absolute Advantage?
- Explain the various concepts of terms of trade. Critically examine the behavior of terms of trade as explained by Prebisch.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- Explain multilateral framework of international trade. Explain its main features.
- What are the various forms of economic integration? How is trade diversion different from trade creation? Elucidate.
- Describe the evolution of international monetary system. Examine the trends in the international monetary and financial systems.
- Discuss the various instruments of trade protection. Differentiate between quotas and tariffs.
- Critically examine the relative merits and demerits of the fixed and flexible exchange rates.
MEC-107: International Trade and Finance
Tutor Marked Assignment
Course Code: MEC-107/106
Total Marks: 100
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- Critically discuss the Ricardian theory of Comparative Advantage. How is it different from Adam Smith’s theory of Absolute Advantage?
- Explain the various concepts of terms of trade. Critically examine the behavior of terms of trade as explained by Prebisch.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- Explain multilateral framework of international trade. Explain its main features.
- What are the various forms of economic integration? How is trade diversion different from trade creation? Elucidate.
- Describe the evolution of international monetary system. Examine the trends in the international monetary and financial systems.
- Discuss the various instruments of trade protection. Differentiate between quotas and tariffs.
- Critically examine the relative merits and demerits of the fixed and flexible exchange rates.
MEC-008: Economics of Social Sector and Environment
Tutor Marked Assignment
Course Code: MEC-008/106
Total Marks: 100
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- How does taking the ‘income levels’ as an indicator of development defeat the objective of tackling the multi-faceted dimensions of development? Explain.
- Discuss Gordon’s contention that the ‘optimal size of fishery is one which maximizes sustainable resource rent’ with appropriate theoretical justification.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- Explain the transition to ‘institutional economics’ from ‘neoclassical economics’.
- What are the essential differences in the two approaches of ‘shadow prices’ and ‘hedonic pricing’ methods as ‘valuation tools of environmental functions’?
- Write a note on the different types of ‘common property resource’.
- Bring out the inter-regional variations in ‘expenditure on education’ in India as it obtained in the early years of 2000s.
- Make a case in favor of levying ‘user fees’ for public health facilities. What are the arguments that can be offered ‘for and against’ such a proposal?
MEC-006: Public Economics
Tutor Marked Assignment
Course Code: MEC-006/106
Total Marks: 100
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- Discuss the various situations of ‘market failure’ leading to environmental degradation.
- Discuss the significance of ‘efficiency wage’ in contributing to health and productivity of workers.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- Explain how ‘poverty’ is not the sole determinant of malnutrition.
- Specify the fundamental challenges of using the non-renewable resources optimally.
- Derive the results for the optimal use of renewable resources under the discrete and continuous time frames.
- Describe the concept of ‘quasi markets’ in the provisioning of public services.
- Derive the conditions of optimality for buying health insurance in cases of absence/presence of free riders.
MEC-109: Research Methods in Economics
Tutor Marked Assignment
Course Code: MEC-109/106
Total Marks: 100
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
2X20=40
- “The deductive strategy starts with application of reasoning from which generalizations are made”. In the light of this statement, formulate a research proposal indicating the various steps involved in the research process.
- State the major features of critical framework as guiding principle for undertaking research in social sciences. Do you think that this framework is a departure from post positivism and interpretivism? Give reasons.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
5X12=60
- Explain the various functional forms of regression model. From the imaginary data for 46 Districts in UP related to the year 2020, the following regression results are given:
[ \log C = 4.30 – 1.34 \log P + 0.17 \log Y ]
[ \text{Se} = (0.91) \quad (0.32) \quad (0.20) ]
[ R^2 = 0.27 ]
Where ( C ) = consumption of Cigarette packs per year
( P ) = real price per pack
( Y ) = real disposable income per capita.
i. What is the elasticity of demand for cigarettes with respect to price?
ii. What is the income elasticity of demand for cigarettes? Is it statistically significant?
iii. How would you retrieve ( R^2 ) from the adjusted ( R^2 ) given above.
- What is representative sample? Explain with example how random sampling is different from non-random sampling? How does random sampling procedure is helpful in correcting the bias of an estimate?
- Distinguish between quantitative and qualitative research. Discuss with example the special features and applications of corresponding analysis as a technique of data analysis for respective disciplines.
6. What is composite index? Discuss with example the process of constructing the composite index.
7. Write short note on following:
- i. Factor loading
- ii. Approaches of content analysis
- iii. Research Design
- iv. Action Research