Q. No. - 1.(a) Differentiate between Adam Smith's concept of subsistence wage and Ricardo's concept of natural wage.
(Comment for solution.)
Q. No. - 1.(b) Is the underground economy beneficial or subversive?
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Q. No. - 1.(c) Why is saving in Keynesian system a function of disposable income but in classicla system a function of rate of interest?
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Q. No. - 1.(d) Distinguish between (i) bonds and debentures, (ii) bonds and non-convertible debentures.
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Q. No. - 1.(e) How can you justify the absence of saving ratio in the quantitative speed of convergence towards steady state equilibrium in the neo-classical growth model?
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Q. No. - 1.(f) How far is the 'Forex Index' an index of economic strenth?
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Q. No. - 2. Assess and justify the analytical merits and historical relevance of mercantilist views on foreign trade.
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Q. No. - 3. What are the approaches to compute 'Green' GDP? How would you make GDP more inclusive in the light of Index of Sustainable Economic Welfare (ISEW)?
(Comment for solution.)
Q. No. - 4. (a) Show that MPC is less than APC in the Keynesian analysis.
(Comment for solution.)
Q. No. - 4. (b) Why is consumption function considered to be an epoch-making contribution in the Keynesian theory?
(Comment for solution.)
Q. No. - 5. State the basic differences between Futures and Options. Explain in detail the working of the futures and options derivatives.
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Q. No. - 6. Both Marx and Schumpeter believe in the downfall of capitalism but for very different reasons. Elucidate.
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Q. No. - 7. "Mundell-Fleming model brings about internal and external balance through the equality between IS-LM-BP schedules." Explain.
(Comment for solution.)
Q. No. - 8. How is the Human Development Index (HDI) computed? Why is HDI required to be adjusted for inequality?
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Q. No. - 9. Highlight the dimensions and implications of Eurozone crisis.
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Q. No. - 10. Assess the performance of WTO in achieving its mission of ending extreme poverty and promoting shared prosperity.
(Comment for solution.)
Q. No. - 11. State the policy implications of Philips curve and explain the dilemma faced by the policy-makers. Discuss how the government can contribute to economic stability.
(Comment for solution.)
Q. No. - 12. Discuss the 'development of underdevelopment' thesis by Frank and Amin. Is the thesis seeded in the Marxian framework of capitalism? Substantiate.
(Comment for solution.)
Q. No. - 13. (a) What was the rationale behind the development of endogenous growth models?
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Q. No. - 13. (b) Use a basic model of endogenous growth to exhibit its superiority over the exogenous model.
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Q. No. - 14. Examine the importance of the latest issues addressed by G-20. What role and responsibilites does G-20 have in tody's world?
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Q. No. - 14. Examine the importance of the latest issues addressed by G-20. What role and responsibilities does G-20 have in today's world?
(Comment for solution.)
Q. No. - 15. State and explain the H-O theorem and factor-price equalisation theorem. Explain how the prevalence of Factor Intensity Reversal would result in the rejection of both theorems.
(Comment for solution.)
Q. No. - 16. (a) Following Baumol-Tobin approach, find out the transaction demand for money and examine its interest rate sensitivity.
(Comment for solution.)
Q. No. - 16. (b) Show and interpret that such a transaction demand for money is homogeneous of degree zero in real income and rate of interest.
(Comment for solution.)
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