Section - I
1. Attempt any nine parts of the following question. Answer to each part should be of approximatley 50 words.
Marks: 5 × 9 = 45
(a) Gandhian Approach to Decentralised Planning
(Comment for solution.)
(b) Revenue and Fiscal Deficits
(Comment for solution.)
(c) Laffer Curve
(Comment for solution.)
(d) User and non-user values
(Comment for solution.)
(e) Hedonic values and prices
(Comment for solution.)
(f) Tradable Permits
(Comment for solution.)
(g) S-C-P Paradigm
(Comment for solution.)
(h) Internal Rate of Return Method of Project Analysis
(Comment for solution.)
(i) Contestable Markets
(Comment for solution.)
(j) Rationale of Kinked demand curve
(Comment for solution.)
(k) Shadow prices of investment
(Comment for solution.)
Section - II
Attempt any seven parts of the following question. Each answer is to be in about 150 words.
Marks: 15 × 7 = 105
2. Discuss the different measures of market concentration. Is there any relation between concentration and monopoly power?
(Comment for solution.)
3. What are the requirements for a good tax structure? Discuss how far the Benefit Tax principle fits with these criteria.
(Comment for solution.)
4. Explain salient differences between the conventional National Accounting System and the Integrated Environmental and Economic Accounting System.
(Comment for solution.)
5. Explain the growth theory of a firm given by Robin Morris. How does the rate of profit control the growth of a firm?
(Comment for solution.)
6. Discuss the travel cost method of assessing the environmental value of a tourist site and the problems associated with this approach.
(Comment for solution.)
7. Explain the rationale for Government intervaention in a market-oriented economy. What economic role is the Government expected to perform in such an economy?
(Comment for solution.)
8. Distinguish between Internal and External Public Debt. In this context, explain the debate on burden of Public Debt.
(Comment for solution.)
9. Discuss how the equilibrium under a monopolistically competitive market differs from that under a perfectly competitive market. Which type of market is mostly observed in reality and why?
(Comment for solution.)
10. Distinguish between common property and open access resources in terms of property rights issues. Do you think that the term "Tragedy of Commons" should be replaced with the term "Tragedy of Open Access"? Explain your answer.
(Comment for solution.)
Section - III
Attempt any two of the following questions in about 300 words each.
Marks: 25 × 2 = 50
11. Distinguish between the concepts of 'market structure' and 'market conduct'. What are the various methods/dimensions by/in which market structure can be measured?
(Comment for solution.)
12. (a) Explain the determination of equilibrium price and output of a firm under monopoly. Under which conditions there could be price discrimination?
(Comment for solution.)
(b) How is equilibrium determined in a duopoly market according to Stackelberg's hypothesis? Critically examine.
(Comment for solution.)
13. (a) Distinguish between a pure public good and a pure private good. How does a demand curve for a public good differ from that of a pure private good? Give your answer with the help of appropriate diagram(S).
(Comment for solution.)
(b) Critically examine the role of decentralised planning in ensuring people's participation in local resources management.
(Comment for solution.)
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