MEC-004

No. of Printed Pages : 4

MASTER OF ARTS (ECONOMICS)

Term-End Examination
December, 2012
MEC-004 : ECONOMICS OF GROWTH AND
DEVELOPMENT
Maximum Marks : 100

Time : 3 hours

Note : Attempt questions from each section as directed.

SECTION-A
(Long Answer Questions)
Answer any two questions from this section.
2x20=40
1.

Critically examine Joan Robinson's model of

economic growth and capital accumulation.

2.

Elaborate upon the contribution of Pasinetti to the

theory of growth and distribution.

3.

Describe briefly the basic structure of optimization

in the Ramsey Growth Model.

4.

Development is not the same thing as economic

growth. Explain. Also bring out the structural
changes associated with economic development.

MEC-004

P.T.O.

SECTION - B
(Medium-Length Answer Questions)
Answer any five questions from this section.

5x12=60

5.

What do you mean by government failure ?

Discuss in brief the reasons for government
failure.

6.

What are the risk-coping strategies of the rural

poor ? Briefly discuss how informal institutions
and risk-sharing works.

7.

Critically analyse Lewis' two sector theory of

development process in a labour-surplus
economy.

8.

Discuss the concept of 'organic composition of

capital', 'surplus value' and 'declining rate of
profit' in Marx's theory of development.

9.

Briefly discuss Prebish-Singer and Myrdal Thesis

of terms of trade.

10.

Distinguish between indicative and imperative

planning. Describe their merits and demerits.

11.

Explain the concept of choice of techniques.

Briefly discuss A.K. Sen's approach to choice of
techniques.

MEC-004

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MEC-004

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