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Report on the Workshop on ‘Better Question Papers in Economics’

One of the important issues in higher education requiring special


attention is the relevance of the evaluation of students’
performance. The University Grants Commission circulated a
Minimum Programme of Examination Reform in 1984. The
Universities of Tamil Nadu in general implemented these reforms.
At present in the University question papers there are in general
three sections. The first section is of objective type or requiring
one-word answers equally distributed over all the units of the
syllabus and are compulsory questions. The second section
requires short answers again made compulsory and equally
distributed over all the units. The third section consists of either/or
type questions for each unit of the syllabus. These questions
require long answers.

It is a known fact that these three types of questions naturally


test different abilities of the students. The autonomous colleges have
continuous internal assessment also. Therefore, it is necessary to
maintain a certain proportion among these various components. But in
recent years there has been a tendency to give more importance to
objective type or one-word answer questions or memory recall type
questions. This naturally may lead to an unreliable assessment of the
knowledge and abilities of the students.

Hence, with a view to study the present trend in question paper


pattern and to chart out a plan of action, the Tamil Nadu State Council
for Higher Education organised a workshop on “Towards Better
Question Papers” on 13th July 2002. This workshop suggested that a
series of workshops be conducted subjectwise, inviting as participants
the Chairmen and Members of the Boards of Studies and question
paper setters. Based on this recommendation, the Tamil Nadu State
Council for Higher Education decided to conduct a series of two-day
workshops for each subject with the Chairmen and Members of Boards
of Studies and Members of the Boards of Examiners (question paper
setters) as participants.

The second workshop in this series on Economics was conducted


during 20-21 December 2002. The list of resource persons and
participants who participated in this workshop is given in Annexure 1.

During the workshop, after brief introductory remarks by the


Resource Persons, highlighting the important issues pertaining to
preparation of question papers, the participants discussed the
framework for the model question papers with particular reference to
the subject of Economics. It was felt that even though the syllabus has
been unitized, the units are not of equal size. Therefore, the
framework for the model question paper will have to be modified as
follows: The objective type questions and very short questions will be
compulsory and will be distributed over all the units. They will carry a
maximum of 30 marks. In the sections pertaining to the short answer
and long answer questions, there will be choice. Short answer
questions will carry a total of 30 marks. 5 out of 7 questions will carry
the maximum marks. Long answer questions will carry a total of 40
marks. 2 out of 4 questions will have to be answered. Thereafter, the
participants divided themselves into groups and prepared model
question papers. The papers prepared by one group was reviewed by
the other groups and in the final session all the participants along with
the resource persons discussed the details of the question papers and
finalised 7 question papers which are given in Annexure 2 to 8. It is
hoped that these question papers will serve as models for preparation
of better question papers by the undergraduate question paper setters.

Annexure 1

Workshop on ‘Towards better question papers in Economics’


20th and 21st December 2002

Resource Persons

Dr. Siva Swaminathan,


Retd. Professor, TTTI,
G4 HIG Flats,
Adayar Apartments,
Kottur Gardens,
Chennai 600 085.

Dr. Anand Kumar Raju,


Head of the Department of English,
Institute of Correspondence Education,
University of Madras,
Chennai 600 005.

Participants

Mrs. Irene Chandrasekaran,


Prof. and Head,
Department of Economics,
St. Mary’s College,
105 North Beach Road,
Tuticorin 628 001.

Dr. (Tmt.) E. Gomathi,


S.G. Lecturer in Economics,
Government Arts College for Men,
Nandanam, Chennai 600 035.
Dr. M. Gnanapragasam,
Reader and Head,
Department of Economics,
Nadar Mahajana Sangam S. Vellaichamy Nadar College,
Nagamalai, Maduai 625 019.

Thiru. L. Clement Baskar,


Lecturer in Economics,
Loyola College,
Sterling Road, Nungambakkam,
Chennai 600 034.

Mrs. K. Malarvizhi,
Lecturer in Economics,
M.O.P. Vaishnav College for Women,
20 IV Lane, Nungambakkam High Road,
Chennai 600 034.

Thiru. N.C. Chandrasekaran,


Department of Economics,
Kandasami Kandar’s College,
Velur, Salem 638 182.

Dr. P.N.P. Mohammed Sahaputheen,


Reader and Head of the Department of Economics,
Jamal Mohamed College,
Race Course, Khaja Nagar,
Tiruchirapalli 620 020.

Prof. N.P. Hariharan,


Madura College,
TPK Road, Madurai 625 011.

Tmt. S. Kairunisa Begum,


S.G. Lecturer in Economics,
Sri Meenakshi Government College,
Madurai 625 002.

Thiru. K. Kesavaram,
Sr. Lecturer in Economics,
Poonga College of Arts and Science,
56/1 East Coast Road, Chennai 600 119.

Dr. Kanaga Sabesan Nagarajan,


Department of Economics,
Vivekananda College,
Sri P.S. Sivaswami Salai,
Mylapore, Chennai 600 004.

Tmt. Nalini Ravindran,


Department of Economics,
Quaid-e-millat Government Arts College for Women,
Annasalai, Chennai 600 002.

Dr. K. Tamil Selvam,


Department of Economics,
Presidency College,
Chennai 600 005.

Tmt. K. Hema,
S.G. Lecturer in Economics,
Chellammal Women’s College,
Guindy, Chennai 600 032.
Annexures 2 to 8

Model Question Papers for B.A. Economics

1. MONETARY ECONOMICS
2. MACRO ECONOMICS
3. MICRO ECONOMICS
4. INDIAN ECONOMY - PROBLEMS, POLICIES AND
PROSPECTS
5. STATISTICS
6. FISCAL ECONOMICS
7. ECONOMIC THOUGHT
MONETARY ECONOMICS

M C Q ( 4 x 1 = 4 marks)

1. Which of the following would not be considered as near-money?


a) Time Deposits
b) Saving and loan
c) Treasury bills
d) Demand Deposits

2. ‘High-powered’ money is:


a) Only banks’ reserves with the Central Bank
b) All bank loans
c) Loans and security of banks
d) Rupees held as legal bank reserves

3. In the Hekscher - Ohlin Theory, the most important cause of the


difference in relative commodity prices and trade between nations is a
difference in:
a) Factor Endowments
b) Technology
c) Tastes
d) Demand conditions

4. Supply of money is:


a) a stock concept
b) a flow concept
c) Both stock and flow concept
d) Neither a stock nor a flow concept

State whether the following statements are True or False

5. Scheduled Banks do not come under commercial banks (T/F)

6. Bank Rate Policy is one of the quantitative credit control methods


(T/F)
Fill in the blanks:

7. Inflation is a situation is which the _______________


consistently rises (price level)

8. ____________________ is a Bankers’ Bank (Central Bank)

Match the following:

9. List A List B

1. Inflation a. Inflation + stagnation

2. Deflation b. Revival from deflation

3. Stagflation c. Decrease in price level

4. Recovery d. Too much of money chasing


too few goods

e. Stability of price level

V. Short answer questions

1. State the functions of money


2. What is value of money?
State Grasham’s Law
3. Define neutrality of money
4. Define classical Dichotomy
5. What are the constituents of money supply?
6. What are the stages of trade cycle?
7. Name 4 term financing institutions in India?
8. Define Real Balance Effect
9. State Friendman’s Quantity Theory
10. Name the instruments of quantitative credit control
Short answer Questions

11. State the advantages of paper currency


12. Mention the features of the Gold standard
13. Distinguish between ‘Demand-pull’ and ‘Cost-push’ inflation
14. What are the assets of commercial banks?
15. Enumerate the objectives of Nationalisation of commercial banks in
1969.
16. What are the objectives of monetary policy?
17. Distinguish between fixed and floating exchange rates.

Long answer Questions

18. Compare and contrast Fishers Equation and Cambridge Equations


19. Evaluate the role of RBI in the agricultural and industrial development
of India
20. Explain the Hawtrey’s theory of trade cycle.
21. Explain the role of IMF in solving the problem of international
Liquidity

Unit/ Objective type V. Short Short Long Total No. of


Type of A. Section Questions
question Multiple Fill up True/False Matching
Choice
Unit I 2 1 3
II 1 1 2
III 3 2 5
IV 1 2 1 1 5
V 1 1 1 1 4
VI 1 1 2
VII 1 1
VIII 1 1 1 1 4
IX 1 1 2
X 1 1 2
Total No. of 4 2 2 1 10 7 4 30
Question
MACRO ECONOMICS

Section A (One mark each)

Answer all the questions

1. Which one of the following is a transfer income?


a. The salary of MLA
b. Company dividends to share holders
c. Rent from house property
d. Unemployment allowance

2. Equilibrium of an economy need not be at full employment level who


said this?
a. Adam Smith
b. Ricardo
c. Karl Marx
d. Keynes

3. Laissez faire policy is advocated by


a. Adam Smith
b. Samuelson
c. Hicks
d. Keynes

4. Unemployment is severe during


a. Recession
b. Boom
c. Depression
d. Recovery

5. GNP - Depreciation = G.D.P (True/False)

6. MEC is high when there is business optimism (True/False)

7. The measure of MPC is ______________.

8. Consumption function states the relationship between consumption


and ________________.
9. Match the following (2 marks)

A B
1. Aggregate Economics a. Marshall
2. Disguised unemployment b. R.F. Khan
3. Employment Multiplier c. Dvesenberry
4. Demonstration Effect d. J.M. Keynes
e. Joan Robinson

Section B (2 x 10 = 20 marks)

Answer all the questions in 30-40 words each

10 Define trade cycle


11. State Marshall’s definition of National Income
12. What is full employment?
13. What is the Pigou effect?
14. State Keynes’ psychological law of consumption
15. What is autonomous investment
16. Give the measure of acceleration co-efficient
17. What is leverage effect?
18. What do you mean by real sector?
19. What is dear money policy?

Section C (6 x 5 = 30 marks)

Answer any five of the following in 200 words each

20. Explain the importance and limitations of Macro Economics.


21. Describe the various types of unemployment
22. Explain Say’s Law of Markets and bring out its implications
23. Elucidate the concept of effective demand
24. What are the factors promoting private investment
25. Describe the working of accelerator
26. Explain the objectives of monetary policy
Section D (20 x 2 = 40 marks)

Answer any two of the following in 1000 words each

27. Examine the applicability of Keynesian theory of employment to


under developed economics
28. What are the leakages that make income multiplier less effective?
29. Examine the various problems in the estimation of national income in
developing countries. How can they be overcome?
30. Describe the subjective and objective factors determining
consumption function

Unit/ Objective type V. Short Short Long Total No. Total


Type of A. Section answer answer answer of Marks
question questions questions questions Questions
Multiple Fill up True/ Matching
Choice False
Unit I 1 1 2 8
II 1 1 1 1 4 24
III 1 2 1 4 11
IV 1 1 1 3 9
V 1 1 1 3 27
VI 1 1 1 3 23
VII 1 1 1 3 9
VIII 1 1 2 21
IX 1 2 1 4 12
X 1 1 2 8
Total No. of 4 2 2 1 10 5/7 2/4 26/30
Question @2 @6 @ 20
marks marks marks
Total marks 4 2 2 2 20 30 40 100
MICRO ECONOMICS

Objective Type - 10 marks - Answer all questions

Multiple choice ( 4 x 1 = 4 marks)

1. Micro economics deals with


a) Firm b) Industry c) Economy d) World

2. When total production is maximum


a) the APL is zero b) the MPL is zero
c) the APL is negative d) the APL is declining

3. For a firm to be in equilibrium


a) MC = MR b) AC = AR c) MR = AR d) AC = MC

4. Quasi - rent is a
a) temporary earnings b) medium-term earning
c) permanent earnings d) long-term earnings

True or False (2 x 1 = 2 marks)

5. Utility is essentially a subjective concept

6. Marginal cost is defined as the change in the average cost resulting


from a one unit change in output

Fill up the blanks ( 2 x 1 = 2 marks)

7. Monopoly refers to ___________________

8. Interest is reward for ___________________


Match the following ( 4 x ½ = 2 marks)

9. a. Elastic demand (i) ep = α


b. Inelastic demand (ii) ep = 1
c. Unitary elastic demand (iii) ep < 1
d. Perfectly elastic demand (iv) ep = 0
(v) ep > 1

Non-objective

Very Short Answer - Answer all questions

Each question carries equal marks ( 10 x 2 = 20 marks)

1. State scarcity definition of economics


2. What do you mean by consumer’s surplus?
3. What does the budget line indicate?
4. Define constant returns to scale in production?
5. What is the difference between implicit cost and explicit cost?
6. What is pure competition?
7. What is oligopoly?
8. What is functional distribution of income?
9. Define Quasi - rent
10. Distinguish between risk and uncertainties

Short Answer - Answer any five

Each question carries equal marks ( 5 x 6 = 30 marks)

11. State the differences between micro and macro economics


12. Elucidate the properties of consumer’s indifference curve
13. Bring out the relationship between total, marginal and average
revenue functions.
14. Describe how price is determined under monopolistic competition.
15. State the functions of trade unions.
16. List out the different types of risks by knight in his theory of profit.
17. What is liquidity trap?
Long Answer - Answer any two questions

Each question carry equal marks ( 20 x 2 = 40 marks)

18. Examine the Walrasian General Equilibrium analysis


19. Evaluate Revealed preference theory
20. Explain the price determination in monopoly and discriminating
monopoly
21. Critically examine the Ricardian theory of rent.

Unit/ Objective type Non-objective type Total No.


Type of of
question Questions
Multiple Fill up True/ Matching V. Short Short Long
Choice False answer answer answer
questions questions questions
Unit I 1 1 1 1 4
II 1 1 2
III 1 1 1 3
IV 1 1 1 3
V 1 1 1 1 4
VI 1 1 1 3
VII 1 1 2
VIII 1 1 2
IX 1 1 1 1 4
X 1 1 1 3
Total No. of 4 2 2 1 10 5/7 2/4 26/30
Question
Marks 4 2 2 2 20 30 40 100
INDIAN ECONOMY - PROBLEMS, POLICIES AND PROSPECTS
MCQ - 4 marks

1. The U.N. experts (1951) have defined an under developed economy as


one in which per capita real income is low when compared to that of
a) USA, Canada, Australia and W. Europe
b) USA, Japan, UAE and England
c) USA, Japan, W. Germany and France
d) USA, Japan, Canada and Australia

2. Economic causes of under development of India is/are: (1 mark)


a) market imperfections
b) Predominance of agriculture
c) Lack of technical knowledge
d) All of these

3. According to the ‘vicious circle of poverty’, doctrine, poverty is


widespread in LDCs because of
a) Low income and low savings
b) Low capital formation
c) Low productivity
d) All of the above

4. Regionwise, among the following, the state at the bottom of the ladder
of PCI is:
a) U.P b) J & K c) Punjab d) Tamil Nadu

State whether the following statements are True/False ( 2 marks)

5. The Chairman of the Planning Commission is the Finance Minister

6. The process of economic growth brings about a structural change in


the economy in favour of the Tertiary sector.
Fill in the blanks (2 marks)

7. _____________________ point programme was introduced by


P.M. Indira Gandhi

8. In Transport, the _________________ system in India is the second


largest in the world

9. Match the following:

List I List II
a. Malhotra Committee 1. PSU Disinvestment
b. C. Rangarajan Committee 2. Insurance sector
c. Goswami Committee 3. Financial system
d. Narasimhan Committee 4. Industrial Sickness
5. Voluntary Disclosure of
Income scheme

Non-Objective

V. Short Questions ( 10 x 2 = 20 marks)


Answer all questions (Each questions carries 2 marks)
Each answer should not exceed 30 words

1. State any 4 objectives of planning


2. Define Rolling Plan
3. Define Industrial sickness
4. What is TDS?
5. Define poverty line.
6. Define quality of life.
7. What is Transport Coordination?
8. What is the second generation green revolution?
9. List any 4 causes for labour unrest in India.
10. List any 4 objectives of WTO
Short Questions ( 5 x 6 = 30 marks)

Answer any 5 questions (Answer should not exceed 200 words)

11. Explain the role of small-scale Industries in India.


12. What are the non-economic factors influencing economic
development?
13. Distinguish between agricultural and Industrial labour.
14. Explain the concept of HRD.
15. What are the causes of regional disparities?
16. Enumerate the difficulties in the calculation of National Income in
India.
17. What is the role of Technology in economic development?

Essay Questions ( 2 x 20 = 40 marks)


Answer any 2 questions (Answer should not exceed 1000 words)

18. Discuss the salient highlights of the National Population Policy.


19. Describe the factors responsible for disequilibrium in India’s Balance
of payments. Explain the remedial measures
20. Discuss the New Industrial Policy, 1991 and subsequent
modifications.
21. Assess the achievements and failures of planning in India.

Unit/ Objective type Non-objective type Total No.


Type of of
question Questions
Multiple True/ Fill Matching V. Short Short Long
Choice False up answer answer answer
questions questions questions
Unit I 3 1 1 1 6
II 1 1 2
III 1 1 1 3
IV 1 1 2
V 1 1 1 3
VI 1 1 1 1 3
VII 1 1
VIII 1 1 1 3
IX 1 1 1 1 4
X 1 1 1
Total No. of 2 1 10 5/7 2/4 26/30
Question 4 2
Marks 4 2 2 2 20 30 40 100
STATISTICS

Part A
Answer all questions (8 x 1 = 8)

1. Primary data can be collected through


a) Questionnaire
b) Direct personal Interview
c) Schedule
d) All the above

2. Positional Average
a) Mean
b) Harmonic Mean
c) Geometric Mean
d) Quartiles

3. S.D. is a measure of
a) Centre Tendency
b) Dispersion
c) Skewness
d) All the above

4. Correlation depicts

a) Degree of association between x and y


b) Cause and effect relationship
c) Absence of relationship
d) All the above

5. As the size of sample increases, the sampling error _____________

6. Skewess is a measure of lack of _________________

7. Statistics in singular means ‘Statistical data’ (True/False)


8. The following is the inclusive method of classification (Tue/False)

x f
10 - 20 5
20 - 30 6
30 - 40 7

9. Match (4 x ½ = 2 marks)

1. Spearman a. Rank Correlation


2. Irving Fisher b. Ideal Index number
3. Lorenz curve c. Dispersion
4. Ogive curves d. Median
e. Mode
f. Karl Pearson

Part – B
Very Short answer Questions
Answer all questions (10 x 2 = 20)

1. State any two limitations of statistics


2. State the sources of collecting secondary data
3. Mention any two bases for the classification? (of data)
4. List out the properties of Arithmetic Mean
5. What is the use of co-efficient of variation?
6. Define Kurtosis?
7. Give the equation which brings out for relation between regression
and correlation?
8. List out the components of Time-series
9. What do you mean by random sampling?
10. Define the GNP

Part - C
Short answer questions
Answer any five questions (5 x 6 = 30)

1. Prepare a blank table to show age wise and sex wise distribution of
workers of XYZ company.
2. Draw a histogram for the following data and also estimate the mode

Class interval Frequency


0 - 10 6
10 - 20 8
20 - 30 11
30 - 40 9
40 - 50 6

3. Estimate Bowley’s coefficient of Skewness for the following data

x f
20 - 29 5
30 - 39 10
40 - 49 15
50 - 59 10
60 - 69 5

4. The following are the scores of the two batsmen x and y. Comment
on their performance

x y
25 20
20 40
30 20
25 25
20 30
30 15

5. Two ladies were asked to rank 7 different types of lipsticks. The


ranks given by them are given below:

Lipstick A B C D E F G
Neelu 2 1 4 3 5 7 6
Neena 1 3 2 4 5 6 7

Calculate Spearman’s rank correlation.

6. What are the uses of Index numbers?


7. Comment on the data collection process of N.S.S.

Long Answer Questions

1. Explain the various methods of computation of National income.


Does it present a true picture of India?

2. Construct the Fisher’s Index Number for the following data. Prove
that it satisfies TRT x FRT

Commodities 1999 2000


Qty. Price Qty. Price
A 50 32 50 30
B 35 30 40 25
C 55 16 50 18
D 40 20 45 20

3. Given the following equations and σ 2x = 9

Estimate x, y, σ y, r

3x - 2y = -1
3x - 8y = -13

-3x + 2y = +1
3x - 8y = -13
-6y = -12
_
y = 12/6 = 2
_
x=1

3x - 2y = -1 (1)
3x - 8y = -13 (2)
From (1)
3x = -1 + 2y

x = - 1/3 + 2/3 y

From (2)
- 8y = -13 -3x
- y = 13/8 + 3/8 x

r = √2/3 x 3/8 = √.25 = .5

Unit/ Objective type Non-objective type Total No.


Type of of
Question Questions
Multiple Supply T/F Matching V. Short Short Long
Choice answer answer answer
questions questions questions
Unit I 1 2 1 4
II 2 1 3
III 1 2 3
IV 1 1 1 3
V 1 1 1 3
VI 1 1 1 1 4
VII 1 1 1 1 4
VIII 1 2 1 1 5
IX 1 1 2
X 1 1 2
Total No. of 4 2 2 4 10 5/7 2/4 26/33
Question
Marks 4 2 2 2 20 30 40 100
FISCAL ECONOMICS

Objective type questions (4 x 1 = 4 marks)

1. The Greek work ‘FISC’ refers to


a) Private Finance
b) Public Finance
c) Public Treasury
d) Both Public and Private Finance

2. Revenue from Administrative Services comes under -


a) Tax Revenue
b) Non-Tax Revenue
c) Public Debt
d) Fiscal Policy

3. Civil expenditure is incurred for the maintenance of -


a) Law and order
b) Industrial growth
c) Health Services
d) Defence

4. Dead weight debt refers to the -


a) Debt for Development of Industries
b) Debt for Development of Agriculture
c) Debt for Development of Roads
d) Debt contracted during war time

True or False

5. (a) Impact of Tax is on the person who bears the money burden at the
first instance (T/F)
(b) In a federal set up there is likely to be Financial imbalance between the
Governments (T/F)

Fill in the blanks

6. a) Under article 280 of the constitution of India, the Finance


Commission is appointed by the ______________ of India.
b) In a balanced budget, expenditure ________________ to revenue

7. Match the following

1. Advalorem a. Balancing factors in federal Finance


2. External loan b. Public expenditure
3. Grants in aid c. Based on value of commodities
4. Adolf Wagner d. Loan raised from abroad
e. Canons of Taxation

Very short answers (30 to 50 words) (10 x 2 = 20)

1. Define Fiscal Economics


2. Define Taxable capacity
3. Name the sources of Non-tax revenue
4. What is forward - shifting of tax?
5. What is principle of sanction in public expenditure?
6. What do you mean by ‘sinking - fund’?
7. What is deficit financing?
8. Define Budget?
9. What is fiscal Policy?
10. What is local Finance?

Short Answers (5 x 6 = 30)

1. Distinguish between public and private finance


2. State Adam smith’s Canon’s of taxation
3. What are the merits and demerits of direct taxes?
4. Write a note on ‘Sales tax’
5. Account for the growth of public expenditure in India in recent times
6. Point out the objectives of deficit financing
7. State the recommendations of the Tenth Finance Commission

Long Answers (2 x 20 = 40)

1. Discuss the principle of ‘maximum social advantage’ as applied in the


field of public finance. What are its limitations?
2. Explain various methods of redemption of public debt.
3. Discuss the role of fiscal policy in India in the present context.
4. Explain how the financial adjustments are made between the centre
and the State.

Unit/ Objective type Non-objective type Total No.


Type of of
Question Questions
Multiple Supply T/F Matching V. Short Short Long
Choice answer answer answer
questions questions questions
Unit I 1 1 1 1 4
II 1 1 2 3 7
III 2 1 3 1 1 8
IV 1 3 1 1 6
V 1 1 1 1 1 5
Total No. of 4 2 2 1 10 5/7 2/4 26/30
Question
Marks 4 2 2 2 20 30 40 100
ECONOMIC THOUGHT

Section - A
Objective Type of question
Answer all the questions

Choose the correct Answer ( 4 x 1 = 4)

1. Which of the following economists does not belong to classical


school?
a) Malthus
b) Ricardo
c) J.S. Mill
d) A.C. Pigou

2. Find out the Nobel Laureate among the following:


a) Hicks
b) Amertheya Sen
c) Dr. Ambedkar
d) Rajaji

3. “Rural Development is the basis for overall economic development”


This was the view of
a) M.K. Gandhi
b) R.C. Dutt
c) Indra Gandhi
d) Jawaharlal Nehru

4. V.K.R.V. Rao is associated with


a) The Five Year Plan
b) Politics in India
c) Finance Commission in India
d) All the above

Fill up the following ( 2 x 1 = 2)

5. Surplus value is associated with _____________ as a factor of


production.
6. Optimality as a measure of welfare was given by _______________

State whether the following are True or False (2 x 1 = 2)

7. According to mercantilists agriculture is the basis for all economic


activities (T/F)

8. Classical economists assumed the existence of full employment


equilibrium (T/F)

Match the following ( 4 x ½ = 2)

9. 1. Adamsmith a. Welfare
2. Karl Marx b. Classical
3. Alfred Marshall c. Socialist
4. A.C. Pigou d. co-classical
e. Institutional

Section - B

Very Short Answers (30 - 50 words) (10 x 2 = 20)

10. State the economic doctrine of physiocrats.


11. State Malthusian perception of the economy
12. State the theory of surplus value by Karl Marx
13. What is meant by ‘marginal school’?
14. Name any two economists of Austrian school
15. What do you mean by ‘Comparative Static’?
16. Mention any two Nobel laureates since 1985
17. State the most important contribution of Dr. Ambethkar
18. What is meant by ‘Gadgil Plan’?
19. Mention any four points of the ‘20 point’ programme of the former
Prime Minister Mrs. Indira Gandhi

Section C

Short Answer Questions (5 x 6 = 30)

20. Narrate the contributions of David Ricardo


21. What is the contribution of Marginal school?
22. Enumerate the Pigouvian ideas of welfare economics
23. Outline the contributions of Dadabai Nauroji
24. Write a note on Trusteeship
25. What is Nehru’s contribution to Indian Economic Development?
26. Trace the recent trends in Indian Economic thinking

Section D (2 x 20 = 40)

Long Answer Questions (2 x 20 = 40)

27. Critically examine the rise and fall of Marxism


28. Examine the relevance of Keynesian economics to developing
economy.
29. Explain the Walrasian General Equilibrium Theory.
30. Evaluate the contribution of Dr. V.K.R.V. Rao.

Unit/ Objective type Non-objective type Total No.


Type of of
Question Questions
Multiple T/F Fill Matching V. Short Short Long
Choice answer answer answer
questions questions questions
Unit I 1 1 2
II 1 1 1 1 1 5
III 1 1 2 1 5
IV 1 1 2
V 1 1 2
VI 1 1
VII 1 1 1 1 4
VIII 1 1 2
IX 1 1 1 3
X 1 2 2 1 6
Total No. of 4 2 2 4 10 6 4 32
Question