Section - I

1. Answer any eight parts of the following. Answer to each part should be of approximately 50 words.

Marks: 5 × 8 = 40

(a) Public Choice Theory

(Comment for solution.)

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(b) New Orthodoxy of Public Debt

(Comment for solution.)

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(c) The Rationale for Social Discounting

(Comment for solution.)

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(d) Unskilled labour and Foreign exchange

(Comment for solution.)

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(e) Dose Response Method

(Comment for solution.)

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(f) Environmental accounting

(Comment for solution.)

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(g) Option value and Existence value

(Comment for solution.)

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(h) Types of Product Differentiation

(Comment for solution.)

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(i) Sustainable Human Development Index

(Comment for solution.)

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Section - II

Answer any ten of the following questions. Each answer is to be in about 150 words.

Marks: 12 × 10 = 120

2. What are the difficulties of majority voting? How will you solve the problem of paradox of cycling?

(Comment for solution.)

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3. "The burden of present public debt is shifted to future generations." Critically examine this statement.

(Comment for solution.)

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4. Discuss the role of property rights and transaction costs in relation to Coase Theorem.

(Comment for solution.)

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5. "Indicative planning is peculiar to France and is quite different from the planning in India." Explain.

(Comment for solution.)

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6. In the case of Corporate Tax, who bears the incidence? Substantiate your answer in the light of Harberger Model.

(Comment for solution.)

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7. Explain the Wage-Goods strategy of development formulated by C.N. Vakil and P.R. Brahmanand and critically examine the same.

(Comment for solution.)

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8. Discuss the debate on Great Green Divide.

(Comment for solution.)

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9. Explain the behavioural hypothesis about Market Conebtration and Market Performance.

(Comment for solution.)

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10. What, in your view, are the macro socio-economic factors to be managed for sustained growth in the Indian economy?

(Comment for solution.)

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11. Explain the methods of determining shadow price.

(Comment for solution.)

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12. Explain the Theory of Contestable Markets. Does this apply to all monopolistic and oligopolistic market situations?

(Comment for solution.)

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Section - III

Answer any two of the following questions in about 250 words each.

Marks: 20 × 2 = 40

13. Evaluate the various Revealed Preference methods of valuation of natural resources. What are the difficulties in measuring environmental values?

(Comment for solution.)

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14. "Controls are an integral part of planned economy" - Explain. What are the different types of controls? Why has physical control not been very successful in India?

(Comment for solution.)

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15. What are Global Environmentla Externalities? Explain the international policy instruments to tackle Global Environmental Externalities.

(Comment for solution.)

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