Marshallian and Walrasian Approaches to Price Determination
ââValidity of Marshallâs equimarginal utility depends on the assumption of unitary elasticity of the marginal utility curves of the commodities under the budget.â Clearly explain this assertion. (12, 2012)
âState and explain the law of equimarginal utility and also state clearly the limitations of this law. (20, 2010)
âHow is the Marshallian equilibrium different from Walrasian equilibrium? (15, 2019)
âState Marshallian and Walrasian conditions of market equilibrium. Do you think the existence of Marshallian stability necessarily ensures Walrasian stability and vice versa? Explain. (10, 2016)
âDiscuss the cobweb model of dynamic equilibrium with lagged adjustment. Explain how the existence of a stable equilibrium depends on the nature of the demand and supply curves. (20,2014)
âWhat do you mean by existence and uniqueness of equilibrium in a market? Examine these concepts in a market where both demand and supply curves are downward sloping. (10,2014)
âThe role of income and substitution effect is crucial in producing backward bending labour supply curve when a tax is imposed on wages. Do you agree? (15, 2019)
âExplain the backward sloping supply curve of labour as a choice between income and leisure. (10, 2015)
âDerive the expansion path for a firm operating with the Cobb-Douglas Production Function. (10, 2017)
âExplain the relationship between own and cross price elasticities for a compensated demand function. (10,2014)
Alternative Distribution Theories
âBriefly state the Kaldorâs theory of distribution in determining the share of profit and the share of wages in national income. Explain the mechanism behind Kaldorâs model. (15, 2020)
âState and explain the theory of distribution in which the exhaustion of the total product is taken care of without leaving any residual claimant and also state clearly the assumptions necessary for the success of the theory. (20, 2010)
âIs rent a surplus? Give reasons in support of your assertion and point out the difference between ârentâ and âquasi rentâ. (20, 2012)
âExamine the process of reaching the Ricardian steady state. How can the tendency towards steady state be countered? (20,2014)
ââTechnical progress in capital intensive sector almost invariably reduces the real wage rate and increase the real return to capital. Technical progress in labour-intensive sector will lead to increase in real wage rate and decrease in the real return to capital.â Explain. (15, 2016)
âGive an outline of Kaldorâs theory of distribution. Also explain the implications of an increase in the wage level and a reduction in the saving rate on the distribution of income. (20, 2018)
âIn what way Kaldorâs model of income distribution is basically a Keynesian theory? (20,2015) (~as Q6)
âKaldor in his theory of distribution argues, unlike Kalecki, that it is not reasonable to neglect the constraint of labour shortage, and analyse a situation of full employment. Show how investment and savings propensities determine distributive shares in the Kaldor approach. Suppose that investment is not exogenous as in Kaldorâs original model but that it varies with profits. What does this mean for the stability of the Kaldor model of distribution? (10, 2013)
âExamine Kaleckiâs model of distribution. Do you consider it a correct explanation of distribution? (20, 2012)
âElucidate how does Kaleckiâs theory of distribution share the value of output between labour and capital. (20,2011) (~as prev Q)
âExamine Kaldor and Kalecki theory of distribution. (10, 2016)
âUnder competition, the cost function is given as C(y) = Y^2 + 1, where y is output. Derive the inverse supply curve and show how the supply curve looks like. (10, 2019)
âUnder perfect competition, in the short run, find out graphically, without using average cost curve, the conditions of equilibrium for the existence of (i) normal profit (ii) supernormal profit and (iii) loss. (10, 2015)
âWhat are the ways in which a perfectly competitive market may become imperfect? Examine whether advertisement helps an imperfectly competitive market become a perfectly competitive one. (20, 2010)
Monopoly
â What determines the degree of price discrimination under monopoly market? (10, 2019)
â(?) describe some measures to evaluate the monopoly power of a firm. (10,2018)
âA supply curve is not used to determine the equilibrium price and quantity in a market under monopoly because
A supply curve derived by using relevant cost curves in a market under monopoly may give more than one price for different quantities and also more than one quantity for the same price; and
For determining profit maximizing price and quantity of a monopolist, supply curve is not necessary. Explain (a) and (b) above with graphical illustration. (20, 2010)
Monopolistic Competition
âSuppose an industry is characterized by the following three conditions: (i) there are a large number of small firms, each producing a differentiated product and facing a downward sloping demand curve (ii) each firm ignores the effects of its action on the decisions taken by other firms and (iii) new firms producing close substitutes for the product of the existing firms can enter the industry. Then, derive the equilibrium conditions of an individual firm and of the industry. (10, 2013)
âDoes a monopolistically competitive market lead to excess capacity under price competition? (10, 2018)
ââUnder monopolistic competition a firm enjoys monopoly power without enjoying monopoly profitâ. Explain. (10, 2017) (goes into selling costs)
âReflect on the inefficiency and socially undesirable aspects of monopolistic competition market situation vis-Ă -vis the perfect competitions, both in the short and in the long run. (20, 2019)
âHow Chamberlin uses planned sales curve to explain equilibrium of a firm and group when the entry of firms is permitted? (15, 2017) (planned sales curve = perceived dd curve)
ââIf firms produce differentiated products, it is neither possible to identify the industry nor possible to draw it supply curve.â Discuss how Chamberlin handles this problem. (12, 2012) â using symmetry and uniformity assumption
Duopoly,
âSuppose that we have only two firms in the market with constant marginal costs of C1 and C2 respectively, such that C1>C2. What is the Bertrand equilibrium in this market? How is it different from the competitive equilibrium? (8+7, 2020)
âWhat is the followerâs problem in a duopoly model and how does it differ from the leaderâs problem? (15, 2019)
âExplain why in a duopoly model of collusion, each firm has an incentive to cheat the other. (15, 2018)
âUnder Bertrand price competition with homogenous products in an oligopoly, demonstrate how is the equilibrium price that will prevail arrived at? (25, 2013)
âLet the market demand curve for carbonated water be given by P = 20 â 9Q/2. (P is price, Q is market output). Let there be two firms producing carbonated water, each with a constant marginal cost of Rs 2 (c1 = c2 = 2);
What is the market equilibrium price and quantity when each firm behaves as a Cournot duopolist? what are the firmsâ profits?
What is the market equilibrium price and quantity when each firm behaves as a Bertrand duopolist? What are the firmsâ profits? (25, 2013)
âShow how the price output decision is taken by duopolists, taking into account their mutual reaction. Under what condition will the duopolistic market be in equilibrium? (12, 2012)
âDemand for light bulbs can be characterized by Q = 100-P, where Q is millions of boxes of lights sold and P is the price per box. There are two producers of lights having identical cost functions: Ci = 10Qi + ½ Qi^2 (i=1,2); Q = Q1 + Q2
Unable to recognize the potential for collusion, managers of the two firms act as short run perfect competitors. What are the equilibrium values of Q1, Q2 and P? what are each firmâs profits?
Manager of each firm independently recognizes the oligopolistic nature of light bulbs industry and plays Cournot. What are the equilibrium values of Q1, Q2 and P? what are each firmâs profits?
Suppose firm I guesses correctly that Firm II has Cournot conjectural variation, so it plays Stackelberg. What are the equilibrium values of Q1, Q2 and P? what are each firmâs profits?
If the managers of two firms collude, what are the equilibrium values of Q1, Q2 and P? what are each firmâs profits? (60, 2009)
Oligopoly
âWhat is conjectural variation? Show how some models of oligopoly are derived on the basis of it. (15,2020)
âTwo firms produce homogeneous outputs with cost functions C1 = q1^2, C2 = 2q2^2 and the inverse market demand function P = 100 â (q1+q2). Show that at the Cournot-Nash equilibrium, firm 2 makes higher profit than at the joint profit maximising equilibrium. Explain why this is so. (20, 2020)
âShow how a dominant firm with a competitive fringe can act as a price leader in an oligopoly market. (15, 2018)
ââA dominant firm acts as a price leader and other firms adjust their outputs accordinglyâ. Comment. (20, 2009)
âState Bainâs limit price theory. (10, 2016)
âExplain kinked demand curve theory with the help of a diagram. (10, 2016)
âExplain how Nash equilibrium provides a solution to the problem of strategic interdependence among firms in an oligopolistic market. (20,2015)
âWrite on Prisonersâ Dilemma and Nash equilibrium. (15, 2016)
âWhat is a Lemon market? What is the role of signalling and screening in it? Explain. (15, 2016)
âWhat is asymmetric information? How could it lead to adverse selection and market failure? Discuss. (20, 2016)
âWhat is prisonerâs dilemma? How is it related to a strictly dominant industry? (10, 2012)
ââThe conventional analysis of profit maximization breaks down if the entrepreneur sells his output and possesses a production function which is homogenous of degree one.â Explain. (10,2014) (CRS)
Modern Welfare Criteria:
Pareto Hicks & Scitovsky, Arrow’s Impossibility,AK Sen’s Social Welfare Function
âState Arrowâs five reasonable conditions which a social welfare function must satisfy. (10, 2020)
âIn an economy with only two commodities, two consumers and two producers with single factor of production, derive the necessary conditions for Pareto optimality in a âperfectâ economy. (15,2020)
âConsider a perfectly competitive exchange economy with no production, and two different goods 1 and 2. Let p1 and p2 be the prices of the goods. The economy is populated by two people A & B. Aâs initial endowment of the two goods is given by and Bâs initial endowment is . A can choose any bundle and B can choose any bundle . In this pure exchange economy, write out the conditions for a Walrasian equilibrium. Show that for such an economy for any equilibrium set of prices that the absolute price level is indeterminate. (10, 2013)
âDerive Marshallâs welfare economics from his concept of consumer surplus after explaining consumerâs surplus along with the underlying assumptions. (10, 2012)
âWhat criteria will have to be satisfied to obtain a Pareto efficient allocation? (10, 2019)
âHow do externalities lead to market failure? How can this situation be remedied? (10, 2018)
ââPareto optimality conditions are necessary but not sufficient conditions for social welfare maximizationâ. (15, 2017) (subset of Q8)
ââPareto-optimality is a necessary but not sufficient condition for welfare maximisationâ. Develop this idea highlighting the role of âsocial welfare contoursâ and âutility possibility contoursâ in welfare maximizing state. (20, 2010)
âState and discuss Arrow Impossibility theorem. How does Sen modify it for social welfare maximization? (15, 2017)
âWhat, according to Arrow, are the axioms required for translating individual preferences into social preferences? Why is it impossible to construct social preferences satisfying those axioms? (20, 2009)
âHow is Kaldor-Hicks compensation principle an improvement over Pareto optimality criterion? What are Scitovskyâs views in this regard? (10,2015)
âThe ânon-rival natureâ of social goods consumption has important bearing on efficient resource allocation. Explore the problem with examples and diagrams. (20,2011)
ââTragedy of the commonsâ leads to over-exploitation of resources. Analyse. (15, 2019)
âWhat is Scitovskyâs paradox? How far has Scitovsky been successful in removing contradictions in Kaldor-Hicks compensation criteria of welfare? (20, 2009)
Macro
Approaches to employment, income and interest rate determination:
classical, Keynes IS-LM
âDiscuss the classical dichotomy that money is neutral. (10,2014)
âShow that full employment is the logical conclusion of the Classical macro model. (10, 2017)
âExplain how the equilibrium employment and real wage would change in a typically classical model if, in the event of increase in supply of labour, money wage becomes rigid. (20, 2017)
âThe following data are given for an economy: Consumption function, C = 250 + 0.5(Y-T) â 500r Investment function, I = 250 â 500r Real money demand function, L/P = 0.5Y â 500r Nominal money supply, M = 7650 Price level, P = 17 Tax = T = Govt Expenditure = G = 200
Find the equations for IS and LM Curves, and solve for Y and r.
Find out the multiplier formula for money supply change and then calculate the change in output if money supply changes by 510. (7+8, 2019)
âYou are given the data on the following variables in an economy: Govt spending = 300 Planned investment = 200 Net exports = 50 Autonomous taxes = 250 Income-tax rate = 0.1 Marginal propensity to consume = 0.5
âConsumption (C) is 600, when income (Y) is equal to 1500. Solve for autonomous consumption.
âSolve for the equilibrium levels of output denoted (respectively by Yw* and Y*wo) in the two scenarios â presence and absence of income tax in the economy.
âSolve for the change in net exports that would bring the equilibrium output level in the economy with the income tax to the level of Y*w that you found in (ii). Specify both the magnitude and sign of the change. [figures are in âšâ000 crore, obviously except tax rate and MPC] (20,2020)
âExplain the paradox of thrift. (10,2014)
âIs stagflation a logical outcome of Keynesian orthodoxy? Give reasons for your answer. (10,2018) â right shift of Philips curve
âIn the simple Keynesian model, if consumption and investment are both functions of income, how would the multiplier be affected? (15,2018)
âShow that in the complete Keynesian model only fiscal policy is effective during a period of depression. (10, 2017)
âExplain the Keynesian and classical extreme monetary assumptions for showing their effects on the slope of the LM Curve. (20, 2017)
âWhat are the fiscal and monetary implications of vertical IS and LM curves? (10, 2016) (20/2010) (20, 2012)
âShow that liquidity preference is neither necessary nor sufficient for the existence of involuntary unemployment in Keynesian system. (20,2015)
âExplain the meaning and significance of money illusion on the part of workers in the Keynesian theory of employment. (10,2015)
â Explain the determination of output and employment in a macroeconomic under the conditions when individuals are subject to (i) no money illusion (ii) money illusion. (10, 2013) (classical vs Keynesian)
âUsing the IS-LM Model, show how expected deflation may cause equilibrium output to remain at less than full-employment level. (10,2018)
âExplain with appropriate assumptions, the determination of equilibrium income and interest rate in a Keynesian model of goods and money markets, through diagrams. (20,2014)
âWhy is under-employment equilibrium possible in Keynesian economics, but not possible in Classical economics? Give reasons. (20, 2012)
âExplain how equilibrium rate of interest and income are determined with the interaction of both product and money market. (10,2020) (same as Q16)
âWhy does the point of intersection of IS and LM curves coincide with the two markets? (20, 2012)/ (20,2010) (explained w/ Q16 above)
âWhat is âliquidity trapâ? how does it occur? Illustrate. (20,2011)
âIn Keynesian theory ârate of interest is what it is because it is expected to become other than it is. If it is not expected to become other than it is, there is nothing to tell us why it is what it isâ. Critically evaluate this comment and explain the role of rate of interest rate in determination of equilibrium income. (40, 2010)
âExplain how Keynesian speculative demand for money is restated in regressive expectation model. Point out its limitations. (20,2020)
neo-classical synthesis and new classical theories of interest rate determination, interest rate structure
âHow will you derive the real aggregate demand curve using the New Classical Theory? (20,2018)
âWhy do you expect a high correlation between the money supply and aggregate expenditure? Does this resolve the monetarist-fiscalist debate? (20, 2017)
âExplain the difference between the assumptions of New Classical and the New Keynesian approaches in managing individuals and markets. (10, 2017)
ââMonetarists are of the view that only money does and Keynesians believe that money does not matter.â What is your reasoning of the extreme views held by monetarists and the Keynesians? [What is the reasoning behind these extreme views held by their protagonists?] (20,2011)/(20,2014)
ââThe advent of New Classical Macroeconomics has tended to upset the applecart of Keynesian and to a great extent, that of the monetarists.â Discuss. (20, 2016)
âDistinguish between Monetarist and Neo-Keynesian approaches to expectation augmented Phillipsâs curve. (20, 2016)
âState Okunâs law and find out the expectations-augmented Philips curve. (10, 2015)
ââIf the interest elasticity of demand for money is low, the monetarists could predict the real GNP simple by the use of money supplyâ. Explain this statement. (10, 2015)
ââUnder rational expectations hypothesis, systematic monetary policy will be ineffective.â Explain this statement using a suitable model. (20,2015) (new classical)
âIf workers supply labour on the basis of an expected real wage, how is the aggregate supply of output determined in the economy? Suppose aggregate demand and supply are below the natural rate of employment and output. Would the New Classical economists advocate any particular policy intervention when the economy is in such a situation? (25, 2013)
âMacroeconomics is usually approached via the outcomes of economic interaction in the following four markets â commodities, money, bonds and labour markets. The Classical economists focus on which three of these four markets? In which market does the loanable fund theory of interest rate determination of the Classical economists focus and how is the interest rate determined? The Neo-Classical synthesis focuses on which three markets? In which market is the interest rate primarily determined in the liquidity preference theory? (25, 2013)
ââNew classical macroeconomics not only rejects the demand management policies of Keynes, but also the propositions of mainstream monetarists such as Friedman.â Do you agree? (20, 2010) (same as applecart Q)
ââIf expectations (regarding price level) were always fulfilled, short-run aggregate supply curve would always be vertical.â Critically examine this statement of New Classical Economics. What would be the shape of the curve, if expectations were not realized? What other assumption is made by New Classical Economists in this context and what is its implication? (60, 2009)
âWhat is hysteresis? Explain the impact of hysteresis in Gradualist Monetarist and Eclectic Keynesian frameworks. (15,2018) (gradualist = defined policy rule/ eclectic = discretionary?)
âAutomatic stabilizers are supposed to mitigate cyclical fluctuations, but there exist limitations which dampen the effect of these stabilizers. Analyse. (10, 2019)
âShow that in a simple Keynesian model, equal expansion in tax and government expenditure does not always lead to balanced budget theorem. (10, 2019)
Money Banking & Finance
Demand, Ss of Money:
âAn individual finds that all his receipts (including income) and payment transactions are in the form of money that bears no interest. However, he can convert into bonds and earn interest income but that involves a fixed cost of each conversion transaction. What are the determinants of the individualâs demand for holding money? (10, 2013) — Baumol?
Money multiplier,
âWhat are the different measures of money supply? Explain the concept of money multiplier and state the factors that determine its volume. (30, 2010)
âMention the different components of supply of money as specified by the RBI. In what sense is the narrow money ânarrowâ? (20, 2012)
âWhat is high-powered money? Explain how changes in short-term monetary policy affect high-powered money and money multiplier. (10,2018)
âExplain H-theory of money supply. (10,2014)
âWhat is high-powered or base money (H)? Is it an autonomous policy-determined variable? Explain. (20, 2009) [can also include Mundell Johnson aspects]
âExplain how money multiplier will be affected if there happens to be partial hoarding by public in each round as well as excess cash reserve holding by banks over the minimum required. (10, 2019)
âDemonetisation is expected to result in a fall in the ratio of currency to deposit. Using the money multiplier theory explain its possible impact on supply of money. (15, 2017)
âDerive money multiplier when a part of money supply is exogenous and the other part is endogenous. (10,2015)
âCompare the deposit multiplier with money multiplier. Is there any impact on money multiplier arising out of massive use of credit and debit cards? (20,2014)
âWould the introduction of ATMs, which allows people to withdraw cash from banks as needed, make deposits more inconvenient and affect the money supply? Elucidate. (20,2011)
âWhat do you mean by money multiplier? What are the factors that determine the value of the multiplier? (20, 2012) (basically derivation of h theory)
Quantity Theory of Money (Fisher, Pigou, Friedman)
âDiscuss in brief Friedmanâs restatement of the quantity theory of money and find its similarity/ difference with the classical quantity theory. (15, 2016)
â In what sense is Friedmanâs QTM said to be a ârestatementâ of Fisherâs theory? Explain. (10, 2019) (subset of Q1)
âExplain Milton Friedmanâs reformulation of the Quantity Theory of Money. (20, 2009) (same as Q1)
âIs Friedmanâs QTM close to Classical or Keynesian approach to the aggregate demand for money? Give justification for your arguments. (20,2011)
ââCambridge equation determines income (Y) assuming rate of interest (r) as given, whereas Keynes theory of interest rate determination assumes given income. Both are thus incomplete.â Do you agree with the above assertion? How would then these two variables (Y and r) be determined simultaneously? (20, 2009)
Keynes’s Theory on Dd for Money
âKeynesian demand for money is one of the key concepts of Keynesian theory of unemployment. Illustrate. (15, 2019)
âIs the speculative demand for money responsible for the existence of involuntary unemployment in Keynesian system? Give reasons. (20, 2010) (liquidity trap part in prev Q)
ââTransaction demand for money is not always interest rate inelastic.â Discuss. (15, 2017) (Baumol)
ââTransaction demand for money is interest rate elasticâ. Explain in reference to the post-Keynesian theories of demand for money. (20, 2012) (same as above)
âDistinguish between post-Keynesian approaches to horizontalist and structuralist theory of endogenous money supply. (10, 2020)
âWhat do you mean by Tobinâs âqâ theory of investment? How would you modify the standard IS-LM functions in the presence of Tobinâs âqâ? (15,2020)
Goals and Instruments of Monetary Mgmt in Closed and open economies
âWhat is interest rate targeting? Explain using the concept of Taylor rule. (15, 2018)
âWhat makes monetary policy ineffective in the short run? Explain. (15, 2019)
âShould inflation targeting be main plank of monetary policy of a central bank in emerging market economies like India? Show its implications on investment and growth. (15, 2016)
âCompare the various instruments of monetary policy with respect to influencing the cost and availability of credit. (20,2014)
âWhat are the main goals of a central bank? What are the instruments by which the central bank manages the liquidity in the financial system and how does it use these instruments to achieve its goals? (25, 2013)
âBring out the differences in the definitions of deficit financing given by different authorities in India and examine the role of deficit as an instrument of monetary control. (20, 2009)
relation b/w central bank & treasury
âExplain repo rate and reverse repo rate. How do changes in the repo rate affect EMIs of borrowers? (10, 2015)
âMention the classification of assets held by a commercial bank. Discuss the problems faced by commercial bank due to rise in NPAs. (10,2020)
âIn the event of persistent inflation in an economy, what changes the Central Bank will bring about in (i) reserve ratios, (ii) bank rate and (iii) open market operations? (20,2015)
proposal for ceiling on growth rate of money
â(read up from gauravâs notes)
Public finance, role in mkt economy:
stabilisation of ss, allocation of resources, distribution, dvpment
âWhat are the three basic goals of public finance? Can these goals be coordinated into an overall pattern of policy or are they always in conflict? (10, 2013)
sources of govt revenue, forms of taxes and subsidies, incidence, effects
âThe burden of tax depends upon the elasticity of demand and supply of a commodity or service. Explain with suitable examples. (20, 2018)
âHow does the burden of tax distribution between buyers and sellers in the ratio of elasticity demand and that of supply take place? (20,2011) [same as Q2]
ââThe direct money burden of the tax imposed on any object is divided between the buyers and the sellers in the proportion of the elasticity of supply of the object taxed to elasticity of demand for it.â Discuss. (20, 2009) [same as Q2]
âDistinguish between effective and differential tax incidence. (10, 2017)
âDiscuss different forms of subsidies. Explain how perverse subsidies are detrimental to the economy and environment in the long run. (20,2020)
ââSubsidies have both positive and negative impacts on the economyâ. Explain this statement and illustrate your answer with Indian experience. (20,2015)
âSuppose a given yield of tax is to be obtained from an excise on a particular product in a perfectly competitive industry. If the objective is economic efficiency the govt would prefer that tax which obtains the desired yield with a lesser increase in the price. Should the govt impose a unit tax or an ad valorem tax if the objective is that they should both impose the same burden at the initial price before the imposition of the tax? Demonstrate your answer with a diagram. (25, 2013)
âIs there any significant difference between Value added tax and Sales tax? If so, what is that? (20, 2012)
ââSubjective approach to taxation leads to least aggregate sacrifice principle.â Elucidate. Also give the limitations of this principle. (20, 2009)
âWhat is the difference between horizontal equity and vertical equity while considering ability to pay? How should the problem be resolved? Illustrate graphically. (20,2011)
âWhat do you understand by shifting of a tax? How does a monopolist succeed in shifting the burden of a tax under increasing marginal cost? (10,2014)
limits to taxations, Loans, crowding out effects, limits to borrowing
âDiscuss the problem of intergenerational inequity arising out of internal public debt. (20, 2017)
âWhat is financial repression? Mention some of its consequences. (15, 2017)
âDiscuss briefly the circumstances where fiscal expansion leads to full crowding out. (15, 2017)
âExplain why money supply remains unaffected if budget deficit is met by borrowing from the public. (20, 2012)
âIf public expenditure is financed by money creation, show diagrammatically the short run and long run crowding out effect. (20, 2010)
âDifferentiate between the complete, partial and zero crowding out effect to a given increase in government expenditure in an economy. (10,2014)
âWhat is rent seeking? Consider a proposal by a government to levy a proportional tax on income so as to subsidize the consumption of a good. The proportional tax at rate t reduces the wage received to w(1-t) which with a standard upward sloping supply of labour curve will reduce the hours of labour worked from say L2 to L1. The net income of the person falls and tax revenue will be twL1. This is transferred as a subsidy which reduces the price of the subsidized good from P to P-S and increase the quantity derived from Q1 to Q2. What is the valuation of the subsidy by the recipient? Is it equal to the value of taxes paid to finance the subsidy? If the tax payer decides to devote resources to rent seeking to forestall the policy to subsidize the good and subsidy recipient is also willing to devote resources to encourage the adoption of the policy, who will have the advantage in the rent seeking context? (25, 2013)
public expenditure and its effects
Trade
old & new theories:
âWrite a short note on gravity model of trade. (10, 2017)
âHow do the small trading nations share the gains from trade which occur as a consequence of gains from exchange and gains from specialization? (20,2011)
âExplain Brander-Krugman model of intra-industry trade in an oligopolistic market. (10, 2016)
âWhat are the features based on which the new trade theories are built that are distinctly different from the old theories? (20, 2019)
comparative advantage,
âExplain, with the help of a diagram, how Haberlerâs theory of opportunity cost is an improvement over the comparative cost theory of Ricardo. (15, 2018)
âDifferentiate between inter-industry and intra-industry trade. Can standard H-O model explain intra-industry trade? Discuss. (10, 2016)
âExplain the conditions under which complete specialization will be possible for two nations in case of comparative advantage. Suppose productivity per unit of labour for two nations, India and UK is given as under. Will mutually beneficial trade be possible for the two nations? If yes, please explain whether specialisation shall be complete or not. (10,2014)
India UK
Wheat (Kg/manhour) 6 3
Cloth (yard/manhour) 4 2
âWhat are the two key conclusions of the Heckscher-Ohlin model of international trade? Under what assumptions are these conclusions arrived at? (15,2013)
âDoes the Heckscher-Ohlin theorem withstand the factor intensity reversal test? In this context, state the relevance of Leontief paradox? (30, 2010)
âIf all assumptions hold true, how does trade between nations tend to bring about equalization of factor prices? (20,2011)
terms of trade and offer curve
ââIf each country is endowed with a certain fixed commodity combination, the differences in demand patterns in these countries can lead to emergence of international trade.â Explain this statement with the help of offer curves of the two countries. (20, 2009)
âDistinguish between single and double factor terms of trade. Explain how far terms of trade of a developing economy would change with technological advancement and economic growth. (20, 2014)
product cycle, strategic trade theories
âIn the context of international trade theory, discuss in detail the various stages of the international product life cycle. (10,2020) (subset of Q2)
âShow different stages of product life cycle. How do the shortcomings of diffusion lag of new technologies in recent years cause a time compression of the cycle? (10, 2012)
trade as an engine of growth, theories of underdevelopment in an open economy
âDiscuss the issue of compatibility between international trade and environment sustainability. (10,2020)
âWhat is âimmiserising growthâ? How can it be prevented through trade policy interventions? (10,2015)
âTrade can be growth-promoting or growth-inhibiting. Argue in terms of the established theories. (15, 2019)
âSummarise the main arguments of the trade optimists and trade pessimists with regard to trade policy for developing countries. Which argument does the data tend to support? (10, 2013) (same as prev one)
âHow can controls on foreign trade contribute to the development of developing countries? (20, 2019)
âCan multinational investment defeat the objective of inclusive growth? Give reasons for your answer. (20, 2019)
ââThe argument that export-biased growth may turn the terms of trade unfavourable to the country and hence my not be beneficial, is applicable in the case of a large country and not a small countryâ. Explain. (20, 2016)
ââApart from bringing capital into a country, multinational corporations provide many other advantages that cannot be obtained by borrowing from international capital market.â Discuss. (20, 2014)
âDiscuss the role of multinationals in employment creation, income generation and transfer of technology. (20, 2012)
tariff, quota
âDetermine optimum tariff of a country with the help of offer curve. (10, 2017) (trade IC tangent to partnerâs offer curve)
âIn what way does the concept of a positive optimal tariff apply to only large countries and not to small countries? Explain. (15, 2019) (face elastic offer curve => already on highest possible IC)
âAnalyse the partial equilibrium effects of a tariff imposed by a large country on its imports in terms of consumersâ surplus. (10,2014)
âWhat is an offer curve in international trade? For two countries engaged in trade in two goods, draw the offer curves such that the offer curve of the home country has a section reflecting inelastic import demand. The foreign countryâs offer curve is elastic throughout. Indicate in your diagram which part of the home countryâs offer curve is inelastic. What is the reason for this shape of the offer curve? Suppose the home country imposes a tariff on imports. Demonstrate the implications for trade. (10, 2013)
ââThe consumption and production effects of a tariff for a commodity depend on the elasticities of demand and supply respectively.â Discuss. (15, 2017)
âMany countries subsidise some of their export industries. Use a partial equilibrium model under perfect competition to illustrate the following effects of an export subsidy for a large country:
Welfare effects of an export subsidy
Which group is winning and which is losing from the subsidy? (8+7, 2020)
âA quota on import and an equal-import tariff are equivalent in a competitive market but not under monopoly. Explain. (15, 2018)
âHow is subsidy better than tariff to achieve domestic objectives? (20,2011)
ââIn the presence of domestic distortions, subsidies are the first best policies and tariffs are the second best.â Do you agree? Explain. (20, 2009)
BoP adjustment: alternative approaches:
price v/s income, income adjustment under fixed exchange rates
âWhat are the elasticity and absorption approaches to BOP Adjustment? Discuss. (20, 2016)
âWith the help of Salter-Swan diagram, define the zones of disequilibrium and assign policy prescriptions for the situations pertaining to unemployment and inflation vis-Ă -vis BOP deficit. (20, 2016)
âHow do depreciation and appreciation in the external value of a currency impact a countryâs balance of payments? (10,2015)
âSuppose the goods, financial, current account and foreign exchange markets are initially in equilibrium. The economy has low or imperfect capital mobility and operates at a fixed exchange rate. The economy is subject to a favourable demand shock that raises expenditure. What is the outcome of the shock on the aggregate income and interest rate in the short-run? How is the balance of payments equilibrium achieved? Draw a diagram in support of your answer. (25, 2013)
âDefine a balance of payment function and explain the factors that cause a shift in this function. Explain the general equilibrium situation in a four sector IS-LM model. (20, 2009)
âIn an economy, the govt is trying to boost the local economy by a massive advertisement, âbuy local â local is bestâ.
Assuming that the public tend to be persuaded by the campaign, what effect might this have on the economyâs multiplier?
Critics argue that this is unfair and leads to distortions in free trade. Examine how the economy performs here under flexible exchange rate system. (8+7,2020)
âIn the context of a two-country model, derive foreign trade multiplier and explain its working. What will be its repercussion? (20,2015)
theories of policy mix
âWhy is it that in a pure flexible exchange rate system, foreign exchange market has no direct effects on the monetary base and money supply? Does this mean that the foreign exchange market has no effect on the monetary policy? (20, 2014)
âHow does the policy mix of fiscal and monetary policies maintain equilibrium in balance of payments and full employment? (20,2011)
exchange rate adjustments under capital mobility
âIn case of perfect capital mobility, explain the difference of the impact of an increase in money supply on GDP under two alternative exchange rate regimes â one fixed and the other flexible. (15, 2019)
âUnder what conditions will devaluation create trade surplus and increase output in the simple Keynesian framework? (10, 2018)
âIn contemporary world of perfect capital mobility and fixed exchange rates, why is the monetary policy ineffective to maintain equilibrium? (20,2011) (subset of Q1 above)
âHow does portfolio balance approach differ from monetary approach in determining the exchange rate? (20,2011)
âShow that in an open economy, given full capital mobility, fiscal action has maximum effect under fixed exchange rate and monetary action has similar effect under flexible exchange rate. (40, 2010)
âDo you subscribe to the view that in a small open economy with perfect capital mobility, expansionary fiscal policy is ineffective under freely flexible exchange rate, whereas expansionary monetary policy will increase the national income? Elaborate your answer with suitable diagrams. (60,2009) (same as Q5 above)
âIn an open economy with high capital mobility, monetary management can be a successful tool to increase output. Explain. (15, 2018) (similar to Q1, draw flatter, upsloping BP rather than horizontal)
floating rates, implications for dvping ctries: currency boards
âPetroleum is sold in the world market and priced in US Dollars. RISCO in India must import petroleum to use it in its manufacturing. How are its profits affected when Indian rupee depreciates against the US dollar? (15, 2017)
âDistinguish between Currency Board Arrangement and dollarization. Why would a nation adopt one or the other? (10, 2012)
âAfter 2003 till 2008, many emerging economies including India received huge capital inflows. To contain the effect of these flows the central bank sterilized the inflow. What is sterilization and how does it affect the supply of money in the economy? (25, 2013)
âWhat do you understand by âsterilizationâ effects of foreign exchange market intervention? How does sterilization work in the case of imperfect capital mobility? (30, 2010)
trade policy & developing ctries
ââMonetary contraction is a better option than devaluation to improve balance of payments position of a developing economy under fixed exchange rate system.â Discuss. (15, 2017)
â âFor most developing nations fighting persistent balance of payments crisis and inflationary crisis, monetary contraction is a better option.â Do you agree? (12, 2012) (same as Q1 above)
âExplain the recent changes in the trade and investment flows among different countries in the world. Discuss the major factors that led to these changes. (8+7,2020)
âWhat are the advantages and disadvantages of capital mobility for developing countries? (10,2015)
BoP adjustments & policy coordination in open economy macro model
âWhat are the obstacles to international macro-economic policy coordination? Discuss. (10, 2019)
âWhat do you understand by a small open economy in the context of both goods and money markets? (10,2014)
speculative attacks
âGive an outline of a model of speculative attack under fixed exchange rate. (10, 2018)
âWhat is a speculative attack on a currency? Suppose the economy has a fixed exchange rate and the government is following an expansionary macroeconomic policy. The govt increases the budget deficit which it finances through a monetary expansion. How does this lead to a crisis? What is the timing of the speculative attack? (25, 2013)
trade blocs, monetary unions
âExplain how trade blocs are important in the process of economic globalisation. Illustrate your answer with suitable examples. (15, 2020)
âDistinguish between Monetary union and Economic union. Do the proliferating trading blocs adversely affect the free trade in the world? Give reasons for your answer. (20,2015)
âWhy are trading blocs formed? Explain the welfare impact of such trading blocs for non-member countries. (20, 2012)
âWhat is Doha Development Agenda? Explain how it negotiated TRIPS and TRIMS among nations. (20, 2018)
âDo you agree with the view that the honeymoon with free trade under WTO is at an end? Give reasons for your answer. (20, 2017)
âWhat are the implications of trade in higher education under GATS for India? (10, 2017)
âWhat is the stalemate in the WTO about subsidies in less developed economies? Discuss. (15, 2016)
ââWith the Doha Round of multilateral trade talks stalled, RTAs Regional Trade Agreements have emerged as an alternative approach to increase trade, spur stronger economic growth and lower unemployment rates in the participating countries.â Explain. (20,2014)
âExplain the Trade Related Investment Measures (TRIMs) of WTO. What are the major debates relating to it? (10, 2014)
âWhat are Indiaâs gains under WTO regime wrt (i) service sector, (ii) Globe-Hex model? (20,2011)
âDescribe the structure of WTO with reference to five main agreements. (30, 2010)
Growth
(i) Theories of growth:
âShow that Cobb-Douglas Production Function exhibits both Hicks and Harrod neutral technical progress. (20, 2017)
Harrodâs model;
âIn Harrodâs model of growth, if the expected gr rate exceeds the warranted growth rate, what will be reln b/w actual gr rate and expected gr rate? (10, 2018)
âDo you think that the root of Harrodâs instability problem lies in the assumption of wage price rigidity? Give arguments in favour of your answer. (10, 2015)
âIt is said that a characteristic of the Harrod-Domar model is that even for the long run the economy is at best balanced on a knife-edge of equilibrium growth. Explain the Harrod-Domar model and the reason for this characteristic. (15, 2013)
â”The assumption of fixed coefficient production function is at the root of Harrod’s instability.” Discuss and explain whether giving up the assumption really helps. (10, 2012) (repeat)
âHow is warranted growth different from natural rate of growth? Explain why Harrod’s growth model is called “knife edge’? (20,2011) (repeat)
âGive an account of the knife-edge problem in Harrod model of economic development. Can this problem be solved? (2008) (repeat)
âExplain how Neoclassical growth theory removes rigidity in H-D growth model. (2004)
âCritically examine the Harrod-Domar model. What are its shortcomings? (1999)
(ii) Lewis model of development with surplus labour.
âDescribe Lewis model of development in an economy with unlimited supply of labour. Is Lewis model really capital driven? Give reasons. (8+7,2020)
âExamine Arthur Lewis model of economy of development with unlimited supplies of labour? What is AK Senâs critique of that approach? (20, 2018)
âIndicate the Ricardo legacy which is inherent in the Lewis model of economic development. (15, 2016)
âExplain the Lewis model of structural change from an agricultural economy to a modern industrial economy. State three major criticisms of the Lewis model. (20, 2013)
âExpansion of high productivity sector absorbs more and more labour from subsistence sector indicating that dualism is a powerful tool of development planning. Critically evaluate Lewis model in light of the above statement. Examine the relevance of the model for contemporary India. (60, 2009) (~repeat)
âDiscuss Lewis model of growth. Do you think the model is applicable for Indian economic development? (2007)
âIn the view of economic uncertainties, Hirschman approach to economic development makes more sense. Discuss. (15, 2017)
ââBalanced and unbalanced growth strategies are not substitutes but complementary to each other.â Explain this statement. (2015)
â”Balanced growth strategy of development in terms of pattern of investment has to be in conformity not only with derived demands but final demands as well.” Argue whether this statement is about avoiding bottlenecks for certain sectors and excess capacities in others or promoting import substitution. (20, 2014)
âAt purely economic level, balanced & unbalanced growth doctrines can be complementary rather than competitive strategies. Discuss. Which of these strategies would you advocate for a country like India? (2008) (repeat)
(iv) Human Capitals and Economic Growth.
âDevelopment of human capital may lead to constant returns & propel an economy to self-sustaining economic growth. Explain? (15, 2018)
âWhat is Solow residual? What are its implications. (10, 2017) (residual = qty that canât be directly measured, rather inferred from measured values of observables â Kolstad)
Under what conditions economic growth reduces employment growth? Discuss. (10, 2016)
âDescribe the growth path, which once the economy attains it, will give a higher level of per capita consumption than any other growth path for all time. (20, 2016) (golden rule)
âThere is one saving rate that is best in the sense of maximizing per capita consumption in steady state. Explain this statement and illustrate the idea graphically. (20, 2010)
âHow does Solow incorporate investment in education in the growth model to achieve long-run growth? (20, 2011)
âDevelop the idea that endogenous technological progress, driven by investment in human capital formation and R & D, offsets diminishing returns to physical capital. (60, 2010) (repeat Q1)
(v) Research and Development and Economic Growth.
âShow how the idea of monopolistic competition becomes intrinsic to the endogenous growth theory as postulated by Romer. (20, 2020) (Romer, 1990 â my soln not perfect, will research later)
âHow can the structural independence between A-sector and K-sector in the dualistic economy foster growth in the absence of external stimuli? (20, 2011) (Lewis)
âQ
What makes technical progress endogenous? Do you think that technology is a ânon-rivalâ good?
Show that if the research becomes more successful, the growth rate will increase and hence the standard of living. (20,2020)
âDiscuss the essential features of the growth models which incorporate research and development. (15, 2019)
âIn an economy having two sectors, namely, goods-producing sector and Research and Development (R & D) sector, prove with the help of new growth theory that (i) both capital and aggregate output must grow at the same rate and (ii) per capita output must grow at the rate of growth of technology. (20, 2015) (copied soln, need to understand from paper)
(b) Process of Economic Development of less developed countries:
Myrdal and Kuznets on economic development and structural change:
âExplain Myrdalâs cumulative causation theory as the theory for development. (10,2020)
âDistinguish between backwash and spread effects of Myrdal. How do they operate in backward economies? (20, 2012) (subpart of previous)
âCritically examine Myrdalâs thesis on economic development & structural change in the context of the process of economic development of less developed countries. Do you think that the structural changes in these countries are in the right direction? Elaborate. (2008)
âIn the contemporary world, many countries are not following Kuznets pattern of structural change. Give reasons. (20, 2019)
âKuznets hypothesis predicts decline in income inequalities in the long-run. In recent decades do trends in income inequalities in developed and developing economies support this hypothesis? (15, 2018) (same as 2019)
âExplain Kuznets’ inverted ‘U’ hypothesis. Is growth good for the poor? Explain. (10, 2016)
âExpand on the following three explanations for the Kuznets hypothesis about inequality and development-(i) the cohort size hypothesis, (ii) the effect of openness on inequality, and (iii) the strong versus the weak version of the hypothesis. (10, 2013)
âWhat do the following terms signify in structural transformation and growth?
(i) Kuznets’ U-shaped curve
(ii) Environmental Kuznets curve
(iii) N-shaped Kuznets curve in the long-run. (20, 2011)
âCritically evaluate Kuznets’ inverted U-shaped curve hypothesis of income distribution. Does it hold good for less developed countries as well? (20, 2009)
Role of Agriculture in Economic Development of less developed countries.
âWhat are the causes of market failure in agriculture? How may govt intervention mitigate this? (20, 2019)
âState five reasons that support government intervention in agricultural markets. (10, 2013) (subset of Q1)
ââAgriculture is not just a sector contributing a small proportion of GDP, it is a way of life for the Indiansâ. Discuss. (12, 2012)
Economic Development and International Trade and Investment, Role of Multinationals.
> with trade Qs
ââAs long as the substitution possibilities between foreign and domestic resources are limited, the dual-gap analysis is relevant.â Critically examine this statement. (20, 2015)
(d) Planning and Economic Development: Changing role of Markets and Planning, Private-Public Partnership.
— these solutions in onenote
âExplain how PPP helps in the rapid economic development of a country. (10,2020)
âCan public-private partnership function effectively in the area of physical infrastructure? (15, 2019)
âWhat are shadow prices? Why are these preferred over market prices in project evaluation. (10, 2018)
âThat marginal efficiency of capital together with the current rate of interest determine the profitability of an investment project. How does it help in the selection of an investment project? (20,2011)
âExplain why the market and the State have complementary roles in economic development? (15, 2018)
âExamine the effects of public expenditure on the development process of an economy. (15, 2016)
âWhat is indicative planning? In this context, explain how State and markets can play a synergistic role in economic development. (10, 2015)
âPoint out the critical elements in typical Public-Private-Partnership (PPP) agreements in the infrastructure projects to safeguard the interests of the public. (10, 2014)
â”The solution of long-term development needs of India lies in promoting public-private partnership.” Discuss. (20, 2012)
âFor optimal allocation of resources, which of the options â market forces, planning exercise of a combination of both â should be suitable for the third world countries? Defend your stand. (20, 2012)
âWith the change in economic policies, relative role of market & the state also changes. Do you agree? Illustrate with suitable examples. (2007)
(e) Welfare indicators and measures of growth: Human Development Indices, The basic needs approach.
âHow is Human Development Index calculated by UNDP? Can there be a better method of assigning weights to various indicators? (10, 2019)
âDescribe the different indicators that are used by UNDP to construct the Human Development Index (HDI). Why is a logarithmic transformation applied only to per capita income in the calculation of HDI? (20, 2014)
âCompare Human Development Index (HDI) with Human Poverty Index (HPI) as a measure of development. How is the Human Poverty Index different from the Happy Planet Index? (20, 2011)
âWhat is HDI? Give its limitations as a measure of economic development and suggest improvements. (20, 2009)
Development and Environmental Sustainability – Renewable and Non-renewable Resources,Environmental Degradation, Intergenerational equity development.
— these solutions in one note
âExplain how renewable resources will play a role in future economics. (10,2020)
ââEven green energy is not always green.â Do you agree? Illustrate your answer taking biofuels as an example. (15,2020)
âHow does âcarbon tradingâ help in reducing environment degradation? (10, 2019/2015)
âHow does rural economic activity create environmental degradation in developing economies? (15, 2018)
âWhat policies would you suggest to combat negative externalities? (20, 2018)
âThe trade-off between environment and development remains unresolved. Comment in the view of US exiting from Paris Climate Agreement. (15, 2017)
âIllustrate the notion of perverse subsidies in the context of natural resource sector. (15, 2016)
â”Pollution-income progression of agrarian communities (clean) to industrial economies (pollution intensive) to service economies (cleaner) would appear to be false if pollution increases again at the end due to higher levels of income and consumption of the people at large.” Discuss. (15, 2016)
âWhat do you mean by âgreen accountingâ? Discuss how this concept can be incorporated in national income accounting. (10, 2015)
âDiscuss the role of renewable energy resources in order to maintain environmental sustainability with special reference to India. (20, 2015)
ââGlobal warming will certainly increase the cry of the earth and the cry of the poor.â In this context, examine the international efforts to reduce global warming. (20, 2015)
âOur development strategy has been proposed in terms of ‘faster’, ‘more inclusive’ and ‘sustainable’ growth. Do the three components sit together well? Argue for your answer. (10, 2014)
ââIndustrial development and environmental degradation are highly correlated.â If it is true what should be, in your opinion, the policy options for industrialisation process vis-Ă -vis pollution control? (20, 2012)
âWhy do energy elasticities tend to unity in industrially advanced countries? (20, 2011)
âWhat are the negative externalities of high energy coefficients? (20, 2011)
âWhat are the objectives of National Environment Policy, 2006? (20, 2011)
Paper 2 Topic Wise
Indian Economics in Pre-Indep Era:
Land System, Changes
âAssess the impact of land tenure system adopted by the British on the peasants and productivity of Indian agriculture. (10,2020)
âWhat were the broad consideration underlying the different types of land settlement in India during the colonial rule? Discuss. (15,2017)
â Land system during the British period was responsible for sustained poverty in India and stagnant growth of Indian economy. Discuss. (10,2014)
â Examine the features of permanent land settlement as introduced by Lord Cornwallis. (15,2018)
Commercialisation of Agriculture
âAccount for the commercialisation of Indian agriculture during the second half of the 19th C and analyse its effects. (10,2019)
âDiscuss the process of âforced commercializationâ of agriculture under colonial rule. (20,2009)
âCritically examine condition of agricultural and rural economy during the pre-independence era. (15,2016)
Deindustrialisation/ Underdevelopment
âAnalyse the effects of colonialism on de-industrialisation in India during the 18th C. (15,2020)
âExplain the underlying causes and effects of deindustrialisation in India during the 19th C. (15,2019)
ââBritish rule led to Indiaâs underdevelopmentâ. Do you agree? Give reasons in support of your answer. (20,2018)
âDo you think that the attitude of the British govt towards the Indian economy changed markedly at the turn of the 19th C? Give specific instances supporting your argument. (15,2017)
âDuring the British rule, India was rooted with seeds of modernisation, but the country remained underdeveloped. Discuss. (15,2015)
Drain Theory
âExamine the theory of âEconomic Drainâ in the second half of the 19th C in India and discuss its economic effects. (15,2019)
âWhat is drain theory? How does it explain the backwardness of India in the 19th C? (20,2017)
âWrite on âDrain Theoryâ as developed by Dadabhai Naoroji. How does it explain sustained poverty during the British Rule in India? (10,2013)
Laissez Faire – Theory & Critique/ Trade policy
âExamine how the laissez faire policy was responsible for the famine in the late 19th C India. (10,2020)
âDo you agree with the view that the objective of industrial and commercial policies of British was to transform India as a complementary economy of England? Give reasons. (10,2018)
âWhat specific trade policies during the British period led to the decline of Indian industry? Explain. (10,2015)
âDiscuss policy of Discriminating Protection and its impact on Indian industrial development during the British period. (15,2011)
âWhat were the economic consequences of discriminating protection in the trade policy during the British regime? (10,2016)
âWrite about the policy of discriminating protection during the British rule and its impact on industrial development in India. (10,2014)
Mfg & Transport: Jute, Cotton, Railways
âEvaluate the development of the transport system in India during 1857 to 1947. (15, 2020)
âDo you agree that the development of Indian railways during the British Rule helped facilitate the process of industrialisation? Give reasons. (10,2019)
âTrace the development of the cotton textile industry in India during the British period. Discuss the major problems faced by the industry in different stages of its growth during this period. (20,2019)
âWhat were the considerations underlying the initiation of the railways and road transport system in India in the 19th C? (10,2017)
âExplain how Railways played in important role in unifying the people of India during pre-Independence period. (15,2016)
âHow did railways contribute to Indiaâs economic development in the pre-Independence era? (10,2015)
âExamine the problems faced by jute mills in India during the early years of their existence. (15,2018)
âHow was the Jute industry affected after partition? What remedial measures were taken to arrest its decline? (20,2012)
âWrite a brief note on the state of manufacturing in India in the 18th C and the subsequent de-industrialisation. (10,2017)
âDiscuss the manufacturing conditions that prevailed during pre-independence period. Do you feel that the private sector didnât come forward for investment due to fear of nationalisation? Give reasons. (20,2016)
Money & Credit
âExamine how the currency policy of the British affected the growth of monetisation in the Indian economy during 19th C. (20,2020)
ââHow did Gold Bullion Standard end with âratio controversyâ in British India? (10,2018)
Vakil, Gadgil, VKRV Rao
âHighlight the main contributions of CN Vakil to Indian planning as opposed to that of the Mahalanobis model at the time of the formulation of the Second Five Year Plan for India. (10,2019)
âDiscuss the Wage-goods model of development as given by CN Vakil and PR Brahmananda. (15,2016)
âThrow light on wage-goods model of C. N. Vakil and P. R. Brahmanand. (15,2011)
ââA close connection between the finance on the hand, and politics and administration on the other land, and the influence of the latter on the former cannot be avoided. This is all the more true in India.â Do you agree with this statement of C. N. Vakil? Is it relevant even today? (25,2013)
âDo you think that pursuit of wage-goods model could have been more appropriate for post-independence strategy of development? Give reasons. (15,2015)
âDiscuss the contributions of D. R. Gadgil to Indian Economic Planning and Policy. Evaluate the key elements of the âGadgil Formulaâ used by the Planning Commission. (20,2010)
âHow did VKRV Rao improve upon the earlier national income estimates of India? (10,2018)
âExplain the contribution of VKRV Rao in the estimation of National Income. (15,2016)
âEvaluate the contributions of VKRV Rao in the National Income Accounting of India. (10,2020)
âDiscuss in detail the views VKRN Rao on deficit financing. (12,2012)
Agriculture (Pre-liberalisation)
Land Reforms, Land Tenure
ââThe progress in the implementation of tenancy and revenue reforms during the first 3 decades after independence in India was not satisfactory.â Do you agree with this view? Do you think that the advent of the Green Revolution made such land reforms policy redundant? (20,2019)
âHow would you justify the policy of land reforms in the light of the farm size-productivity debate in India? (15,2018)
âWhat are the components of Land Reforms in India? Has it been completed? If not, then what are the obstacles? (10,2013)
Why are land reforms still not complete in India? What are the obstacles in its way? Elaborate. (15,2014)
Green Revolution
âDiscuss the technological factors relating to the Green Revolution in India. (15,2019)
âDo you think that the green revolution had limited impact on Indian agriculture? Justify your answer. (15,2018)
âDo you agree with the view that an increase in the productivity of agriculture as a result of the Green revolution was only short-term? Give reasons. (10,2016)
âWhy Green Revolution lost its steam and India needs yet another Green Revolution or Evergreen Revolution? Discuss. (20,2014)
ââIndia urgently needs yet another Green Revolution by infusing modern technologies like ICT and Space technologies and Strategic Management techniques to come up with demand side pressures resulting in persistent food inflation in the economy.â Do you agree? (30,2011)
ââThe success of the Green Revolution shows the importance of the State in agrarian transformation.â Comment. (20,2009)
âExplain why the use of organic farming should be encouraged in India. (10,2018)
Capital Formation in Agri
âExplain the trend in gross capital formation in agriculture in India during the post liberalisation period. Do you think that private investment has been crowded out by the public investment during this period? (20,2020)
Analyse the recent trend of gross capital formation in agriculture. Has it, do you think, been responsible for the sluggish growth rate in agriculture? (30,2011)
New Economic Reform and Agriculture
Agriculture And WTO
âCritically examine the role of WTO on agricultural exports in India. (15,2019)
âDuring the British rule, commercialization of agriculture was forced on the farmers, while now it is the need of the hour. Discuss. (12,2012)
âSubsidy is a contentious issue and roadblock in the WTO. Examine Indiaâs stand for protecting farmersâ interests. (20,2014)
âWrite on the unfinished agenda of Doha Round of negotiations of the WTO. (15,2011)
âDiscuss the impact of World Trade Organization (WTO) on Indian Agriculture. 60
Food Processing
Do you think the food processing sector as the sunrise sector in India during the post-reform period? Justify. (10,2020)
âAgro-based industries, especially food processing units, can alter the fate of rural India. Discuss. (15,2015)
âHorticulture is now the growth driver of Indian Agriculture. Discuss the issue in the broad context of rural diversification. (10,2018)
Subsidies
âAnalyse the impact of fertiliser subsidy on agricultural productivity growth during the post reform period. (10,2020)
ââAgriculture subsidy is both an economic as well as social issue, hence the govt finds it difficult to take a decisive decision.â Comment on the above statement. (15,2016)
âSubsidies are a source of inefficiency and corruption.â Do you agree with the statement in the Indian context? Justify your answer. (10,2017)
âWhat are the different types of agricultural subsidies that are given to the farmers in India? How can these be rationalised? (10,2015)
âAnalyse the salient features of âinterest subvention schemeâ and its implications on the farm sector. (20,2018)
âWhat are the merits and demerits of the case of farm loan waivers in India? Explain. (15,2017)
Agricultural Prices and Public Distribution System, Food Security
âExamine the efficacy and resilience of PDS in India for providing food security. (15,2020)
âHow has the movement of agricultural prices during the post-liberalisation period been responsible for farmersâ distress in India? (10,2019)
âWhat reforms would you advocate to make the PDS in India more effective? (10,2019)
âAssess the degree of success of the targeted Public Distribution System in the country in meeting its objectives. (30,2010)
âHighlight the basic features of NFSA, 2013. Can it solve the problem of malnutrition in the country? Discuss. (10,2015)
âExamine the basic features of the National Food Security Act, 2013. (10,2016)
âDo you agree that focused and target-oriented technological interventions under National Food Security Mission (NFSM) have made significant impact since its inception? Justify. (10,2013)
âHigh MSP induce distortions, some of which ultimately hurt the poor. Examine its merits and demerits. (15,2015)
Impact of Public Expenditure on Agricultural Growth/ General Agriculture
âExplain the trend in gross capital formation in agriculture in India during the post liberalisation period. Do you think that private investment has been crowded out by the public investment during this period? (20,2020)
âDo you think that the fall in public investment in agriculture adversely affects the productivity growth of this sector in India? Give reasons. (15, 2019)
âRelative contribution of agriculture to the GDP of India has been going down steadily since Independence. Do you think this highlights a weakness of the economy? Explain. (10,2017)
âEven though India is self-sufficient in the production of food grains, Indian agriculture is faced with some major challenges. Elucidate. (15,2017)
âWhat is your opinion on the view that the economic reform process has largely bypassed agriculture? (15,2015)
âDiscuss the factors responsible for slow growth in agriculture in recent years. What steps ought to be taken for sustained growth in this sector? (12,2012)
âWould you advocate that the income of rich farmers should be taxed in India? Give reasons. (10,2017)
âWhat are the factors responsible for the large number of farmersâ suicides in relatively richer Indian States? Examine. (15,2014)
âDistinguish between cooperative, contractual and corporate farming. Which of these is best suited for India and why? (20,2012)
Industry
Trends in Composition and Growth
âElaborate on the phenomenon of âmissing middleâ in Indian manufacturing sector. (10,2018)
âHow can the organised manufacturing sector be revived as an engine of inclusive growth? (10,2018)
âWhat is the broad trend of the manufacturing sectorâs relative share in GDP in India over the last four decades? How do you view its performance and what actions does the govt contemplate in this matter? (20,2017)
âExplain the principal causes of deceleration in industrial growth during the mid-1960âs to mid-1970âs in India. Do you think that the reasons for the slowdown in industrial growth since the late 1990s are basically different from those of the earlier deceleration? Answer with proper arguments. (20,2019)
Role of Public & Pvt Sector
âComment on the role of public sector during the early phase of industrial development in India. (10,2020)
âCritically examine the relative contributions of public and private sectors in pre-liberalisation period in India. (10,2018)
âDelineate the trends in the growth and industrial composition of public sector in India during the pre-liberalisation period. (20,2012)
Small Scale & Cottage Industries
âWhat are the major problems faced by the SSIs? Examine the role of the MSMED Act, 2006, in enhancing productivity of SSIs in India. (20,2020)
âWhat role are MSMEs playing in Indiaâs economic growth? (10,2017)
âWhat was the impact of policy reservation in favour of small-scale industries in India during the post-independence but pre-liberalisation era? (10,2015)
âA number of production lines ware reserved for the small-scale sector in the pre-liberalisation period. Did such reservation achieve its objectives? Explain in detail. (30,2012)
New Economic Policy and Industry
Strategy of Industrialization
âCritically examine the new manufacturing policy, 2011 for fostering industrial growth in India. (15,2020)
âEvaluate the Competition Act, 2002 relative to the MRTP Act. (10,2019)
ââThough economic liberalisation in India in the mid-90s aimed at industrial growth, actually the services sector led the economy.â Elucidate. (10,2017)
âThe industrial development agenda framed by the Industrial Policy, 1956 transformed the Indian economy substantially from an agricultural to an industrial economy. Elucidate. State in brief sectoral composition of growth during the period before 1990. (25,2013)
âHow does the strategy of industrialisation under the New Economic Policy promote productivity growth in manufacturing industries in India? Explain. (15,2019)
âWhat are the main components of the National Manufacturing Policy, 2014? Discuss. (15,2015)
âDiscuss the recent initiatives for augmenting power generation in India. (10,2015)
âExplain the recent policy initiatives for enhancing crude oil and natural gas production in India. (15,2015)
Privatization, Disinvestments
âCritically examine the strategy of disinvestment in improving the growth of the manufacturing sector. (15,2020)
âDiscuss the disinvestment policy adopted by the GoI as part of structural adjustment programme of the IMF and the World Bank. Examine the impact of such a policy on industrial growth in India. (20,2019)
âCritically examine the Disinvestment Policy of the GoI. (15,2017)
âWhat is the present policy of disinvestment of the Government of India? What modification can be introduced in order to make it fruit-bearing? (25,2013)
âCan disinvestment in public sector units be a sustainable alternative for raising resources for government expenditure? (12,2012)
âCritically examine the arguments usually put forward in favour of disinvestment of public sector enterprises. (20,2009)
Role of Foreign Direct Investment and Multinationals.
âEvaluate the role of FDI in contributing economic growth of India. (10,2020)
âHas India been able to exploit the potential of FDI for export-oriented production? Give reasons. (10,2019)
âWhy should FDI be preferred over FPI? Comment on govtâs initiatives in this respect. (15,2018)
âWhat developmental role can FDI play in a backward economy? What policy has India been following to attract FDI and what safeguards should the country adopt? (20,2017)
âCritically examine the major changes in FDI policies of the GoI since 1991. (15,2016)
âWrite for and against FDI in retail trade of India. (15,2014)
âCompare the role of Foreign Direct Investment (FDI) and Foreign Institutional Investment (FIIŐs) in Indiaâs economic development. Are FDIŐs preferable to Portfolio Investments? Evaluate. (30,2011)
âWhy is capital inflow through multinational corporations preferred over foreign debt? (30,2012)
âComment on the new initiatives taken by the govt to facilitate investment and EoDB. (20,2018)
âThere is need of an âapex agencyâ to monitor and to regulate the entry and functioning of transnational corporations in the context of Indiaâs broader national interest. Give arguments in support of your answer. (15,2015)
âWrite in brief on Special Economic Zones (SEZ) and their socio-economic repercussions. (20,2011)
âWhat is intellectual property? Why does intellectual property need to be promoted and protected? (15,2020)
Implications Of TRIPS, TRIMS, GATS
âNarrate the implications of the TRIPS Agreement with special reference to the pharmaceutical sector in India. (15,2019)
âExamine the implications of TRIPS on Indian economy. (15,2016)
âDiscuss the salient features of TRIPS and Indian position on (i) geographical indications and (ii) plant breedersŐ rights. (30,2012)
ââThe TRIPS agreement runs counter to the neoliberal argument in favour of competition.â Is this a fair assessment? Discuss. (20,2009)
âDescribe the salient features of TRIMS. How has it impacted the textile and clothing sector in India. (15,2018)
âWhat are the four modes of GATS? What mode has been preferred by India and why? (15,2010)
New EXIM Policy.
âDescribe the salient features of New Foreign Trade Policy (2015-20) in India. Examine its role in improving the current account balance. (15,2020)
âExamine the new EXIM policy. Given the tough competition in international trade, what corrective measure would you suggest to make it more successful in boosting Indian exports? (30,2012)
âBring out the salient features of New EXIM Policy of GoI. (10,2016)
âDo you think the recent appreciation of Indian currency is harming Indiaâs exports? Can it have a beneficial side too? Explain in brief. (10,2017)
âWhat are the key initiatives proposed in Foreign Trade Policy, 2009 – 2014 for market diversification and technological upgradation to give a boost to exports? (10,2013)
âExamine the challenges to export diversification and increase in export competitiveness of India. (20,2011)
âWrite a note on the broad trend of Indiaâs foreign trade and current account balance during roughly the last one decade. (15,2017)
âWrite on Indo-ASEAN trade relations. (15,2011)
âWrite on the Look East Policy of India. (15,2014)
âIn view of fresh fears of global financial crisis arising out of decelerating credit rating of the U. S. economy and sovereign debt crisis in peripheral Euro-Zone economies analyse its likely impact on Indiaâs trade and growth performance. Suggest measures to contain it. (40,2011)
New Exchange Rate Regime
Partial and Full Convertibility, Capital Account Convertibility
âDo you think that Indian currency is fully convertible? Explain. (10,2020)
âIs India ready for full capital account convertibility? Assess. (30,2011)
âExamine the role of capital account convertibility in controlling deficit in the current account of Indiaâs BoP. (15,2019)
âDo you believe that capital account convertibility is feasible under the present circumstances in India? Explain. (20,2018)
ââPartial Capital Account Convertibility cannot serve the purpose of integrating Indian economy with world economy.â Critically examine. (10,2016)
âDo you think that full convertibility of rupee on capital account will help in accelerating Indiaâs economic growth? Give reasons. (10,2015)
âDiscuss the issues involved in Capital Account Convertibility. In the light of this, explain Indiaâs important capital account liberalisation measures. (15,2014)
ââPartial capital account convertibility cannot serve the purpose of integrating Indian economy with global economy.â Analyse critically. (10,2013)
âWould a flexible exchange rate regime serve India better than a fixed exchange rate regime in the current international scenario? (12,2012)
âHow global financial crisis and sovereign debt crisis of European nations exposed the disturbing role of speculative motive and fiscal imprudence? What lesson could India derive from it? (15,2014)
ââSpeculators may do no harm as bubbles on a steady of enterprise, but the position is serious when enterprise becomes the bubble on whirlpool of speculation. When enterprise becomes a by-product of the activities of a casino, the job is likely to be undone.â Explain in the context of global financial crisis and its impact on Indian economy. (25,2013)
New Economic Policy and Public Finance
Fiscal Responsibility Act
âDiscuss the role of FRBM Act, 2003 in improving the fiscal health of the State finances in India. (15,2020)
âExplain the salient feature of the Fiscal Responsibility Act. Explain to what extent has the Government of India been able to adhere to the provisions of this Act? (30,2012)
âWhat are the salient features of FRBM Act? Examine the criticisms levelled against it. (20,2014)
Critically examine the salient features of the Fiscal Responsibility Act. (10,2016)
âWrite on second-generation economic reforms in India. (15,2011)
âSecond generation economic reforms are crucial for raising the growth rate of economy. Throw light on these dimensions. (10,2014)
Finance Commission
âGive a short analysis of the state of devolution of resources from the Centre to the States in India in the light of fiscal federalism. (15,2017)
âWhat are the major recommendations of the Fourteenth Finance Commission? (20,2015)
âDiscuss the major recommendations of the Thirteenth finance Commission with regard to augmentation of resources of local governments. (20,2012)
Fiscal Federalism, Fiscal Consolidation
âDistinguish between Fiscal Federalism and Fiscal Consolidation. Discuss the fundamental changes in Indian fiscal federalism after introducing GST. (20,2020)
âWhat is fiscal federalism? Examine the role of various Finance Commissions since 2001 in reducing horizontal and vertical fiscal imbalances. (15,2019)
âThe chequered fiscal history of India of the last fifteen years has been a saga of fiscal prudence on the part of the States and fiscal profligacy by the Centre. Do you agree? Give reasons. (15,2018)
âDo you agree that fiscal slippage in the recent past is structural in nature? Also suggest roadmap for fiscal consolidation in the next few years. (20,2018)
âExamine the process of introducing and passing GST Bill in parliament. How it helps in Fiscal consolidation in the country? (15,2016)
âDistinguish between fiscal federalism and political federalism. How has fiscal federalism been evolving in relation to special category States in particular and other States in general? (20,2012)
Taxation
âExplain GST. Analyse how it is going to impact Indian business. (15,2017)
âHow is GST different from VAT? What is the grand bargain suggested by the Thirteenth Finance Commission for implementation of GST? (20,2012)
âWhat are the broad features of the proposed GST Model? (10,2015)
âWhat are the major objectives of the Direct Taxes Code Bill, 2010? Will it be effective in generating enhanced tax revenues? (25,2013)
Governance, Corruption
âWhat is âCrony Capitalism?â Is it true that almost all developing countries are facing the threat of âCrony Capitalismâ in their development efforts? (20,2016)
âHow could e-governance tackle the issues of corruption and inefficiency in the govt sector to lead to higher growth rate in the economy? Discuss. (15,2014)
ââElitist biasâ and âCrony Capitalismâ have eclipsed the issues of efficiency and distributive justice in India. Elaborate. (20,2014)
âWhat is âCrony Capitalismâ? How it compromises economic and social justice issues? Explain. (10,2013)
âIn the context of the IT revolution, Digital India programme is a significant instrument of administrative reforms. Do you agree? (20,2015)
New Economic Policy and Monetary System
Role of RBI Under the New Regime.
âCritically examine the role of RBI in maintaining financial stability under the new regime of monetary system. (20,2020)
âWhy is monetary transmission not effective in India? In the context of the recent announcement by the RBI, compare the efficacy of external benchmarks in bank loans with internal benchmarks for improving monetary transmissions through the banking channel. (20,2019)
âInflation is not a purely monetary phenomenon in India and hence the scope of monetary policy of the RBI to contain it is limited. Discuss. (25,2013)
âCharacterise the inflationary process in the last three years. What steps were taken by the RBI and the Government to control it? (12,2012)
âCritically examine the point of view that RBIŐs recent measures at containing inflation have compromised growth. (30,2011)
âMonetary Policy in India is often criticised as ineffective because large part of the country is not yet monetised. Do you agree with the view? Give reasons. (20,2016)
ââAn underdeveloped money and capital market has been a major cause of slow economic growth in India.â In the light of this statement, give relative importance of financial sector vis-Ă -vis real sector in Indian economy. (25,2013)
NBFCs, Demonetisation, Banking
âTrace the development of NBFCs in India since the liberalisation era and comment on their impact on the effectiveness of the interest rate policies of the RBI. (15,2016)
âNBFCs need to be effectively regulated and monitored in India. Can you suggest some measures in this direction? (15,2015)
âDemonetisation has been a radical and unprecedented step with short-run costs and long-term benefits. Give reasons in support of this statement. (15,2018)
âWhat is your assessment of the principal impact of the recent demonetisation in India in the immediate and middle terms? (15,2017)
âThe state-controlled section of Indiaâs banking sector continues to be a major problem for policy makers. Do you agree? Give reasons in support of your answer. (15,2018)
âWhat caused the problem of non-performing assets of Indian commercial banks and what cures are being suggested to solve the problem? (10,2017)
âWhat are the major factors behind accumulation of NPA in the Indian banking sector in recent years? Discuss. (10,2015)
ââFinancial inclusion is one of the most essential components of inclusive growth.â Comment. (10,2015)
Planning
From Central Planning to Indicative Planning
âMixed economy is an outcome of the compromise between laissez-faire capitalism and socialist state control of resource. Elaborate. Mention its salient features. (10,2013)
âDifferentiate between plan and non-plan expenditure as used in the govt budget. Is this distinction relevant for govt finances in India today? (10,2019)
âHow the setting up of NITI Aayog has changed the planning perspective in India? Explain. (20,2018)
âGive a brief account of the evolution of the concept of economic planning in India after Independence. (15,2017)
âDuring post-independence era, India assigned the role of âCommanding Heightsâ to the public undertakings. Should this policy be continued? Give reasons for your answer. (20,2016)
âDiscuss the basic features of 2nd FYP in India. (10,2016)
âState the basic features of Mahalanobis model. (10,2013)
Relation Between Planning and Markets for Growth
âDo you think that planning has a role in the context of market-based development of India? Answer with arguments. (15,2019)
âWhy did the socialist order fail and the country had to resort to the market economy system? Give reasons. (10,2015)
âWhy socialist model of development could not bring about equitable distribution of income in India and the country remained on a slow growth trajectory of 3 â 3.5% for a long time? Discuss. (10,2014)
âWhat were the economic and non-economic rationale for adopting mixed economy model in India? (10,2016)
âWhat are the consequences of deviation from socialistic pattern of society and mixed economy particular(rly for the persons below the poverty line? Explain. (10,2014)
âWhat do you mean by the âHindu rate of growthâ? Why has it been argued that poverty cannot be eradicated under the Hindu rate of growth? (12,2012)
Decentralized Planning: 73rd And 74th Constitutional Amendments.
âDiscuss the relevance of decentralised planning after the implementation of the 74th CAA, 1992. (10,2020)
ââIndian planning structure and system still remains largely in favour of a centralized nature of planning. The 73rd and 74th Constitutional Amendments have hardly brought about any change in reality in the nature of Indian planning process.â Critically evaluate this statement. (25,2013)
âExplain the salient features of the 73rd and 74th Constitutional Amendments in India and elaborate the impact of its implementation. (10,2016)
âDiscuss salient economic feature of 73rd and 74th Constitutional amendments. (20,2011)
âDiscuss the changes in sectoral composition of GDP with the changes in the sectoral components of employment in India since independence. (15,2020)
âExamine the recent trend in rural wages in India. Discuss the role of MGNREGA in determining this trend. (15,2020)
âWhat are the core objectives of the MGNREGS? In what ways has a paradigm shift taken place with the implementation of MGNREGA? (20,2019)
âDo you agree that MGNREGA has been plagued with rampant malpractices, leakage of funds and diversion of resources? Give reasons. (10,2018)
âNREGS should be reoriented to create productive permanent assets to promote employment and generate income in the rural sector. Critically evaluate. (20,2014)
âAnalyse the impact of MNREGA on rural and urban wages and rural migration. (20,2011)
âExamine the relation between casualisation of employment and poverty in India. (15,2019)
âThe quality of employment, in general, in India is perceived to be alarming. How would you analyse the situation? (20,2017)
âWhat are the basic features of new national rural employment guarantee scheme what are the impediments in their implementation? (20,2016)
âExamine the labour policy of India and its impact on employment (labor) market in Indian economy. (15,2014)
âEmployment pattern in India in post-reform period has moved in favour of contractual, casual and self-employment. How public sector employment deceleration would impact the future of labour (employment) market in India? Elaborate. (10,2014)
âAccount for the change in the employment pattern in India after liberalization. What are your suggestions for employment security in the âinformalâ sector of the economy? Discuss. (25,2013)
âWrite short notes on âSkill Indiaâ and âMake in Indiaâ. (10,2016)
âSkill development and thereby raising labour productivity like that in China would be the only panacea for long term growth in Indian economy. Discuss. (10,2014)
âExamine the trends in GDP at factor cost during the pre-reform period in India. (10,2019)
âDiscuss the changes in the sectoral composition of GDP in recent years. (15,2016)
âIt is often said that the prime generator of economic growth in India in the post liberalisation period has been the service sector. Do you agree? What has been its implication on the BoP in India? (20,2015)
âAccelerated growth of tertiary sector during the past two decades in Indian economy has posed multiple challenges. Discuss. (25,2013)
ââThe declining share of commodity producing sectors â agriculture and industry â and rising share of Services sector is creating imbalances of far-reaching consequences in the economy.â Critically analyse. (30,2011)
âReflect on issues and implications of structural transformation in Indiaâs income. (15,2018)
âTrace the growth of real per capita income in India in the pre-liberalisation period, keeping in view the interplay of increasing population and increasing real national income. (12,2012)
âWhile Indian economic growth in recent years is services-led growth and Chinese model is manufacturing led growth, show the implications of the two models for long term sustainable development. (10,2014)
âHow did per capita income in India behave since Independence? Has it improved the well-being of the people uniformly? Give specific reasons. (15,2017)
âHighlight the structural changes in Indian economy before 1991. (15,2014)
Broad Factors Determining National Income and Distribution/ Development Concerns
âExplain the major factors that affected the growth rate of the economy in post-independence India till 1991. (20,2015)
âWhat are the factors which determine the size and composition of national income? In this respect contrast the scenarios between pre and post liberalization periods. (30,2012)
âTransformation of rural sector is key to economic development as it sustains two-thirds of Indian population. How physical connectivity, electronic connectivity and knowledge connectivity may be helpful in this transformation? Explain the linkages. (25,2013)
âThrow light on the PURA model of rural development. (15,2011)
âVitalisation of rural economy is key to âinclusive growthâ which is possible through strategic management and technological upgradation. Explain. (15,2014)
âWhat were the major hurdles to development as experienced in India during first decade after independence? Discuss them and what steps were taken to remove them? (15,2016)
ââThe dichotomy of developmentâ in India emerged owing to âgovernance deficitâ and âcrony capitalism.â Examine. (20,2015)
âIn Indian economy, dichotomy of development emerged during the pre-reform period despite efforts of holistic development. Delineate the factors responsible for it. (15,2014)
âDo you think Gandhian vision of development is still relevant in India? Explain with reasons. (15,2014)
âElaborate upon Gandhian versus Nehruvian visions of IndiaŐs development. Do you think Gandhian approach is again attracting scholars and the people? Give reasons. (30,2011)
âSpecify the main factors which hindered trickle down in Indian economy and agenda of âinclusive growthâ is being pressed into for economic justice. (10,2014)
âCompare the strategies of trickle-down growth with inclusive growth. Why should the strategy of inclusive growth be preferred? (20,2012)
Poverty, Measures, Trends in Poverty,
ââWhile absolute poverty declines over the decades, the poverty gap between different social groups shows rising trend in Indiaâ. Discuss. (15,2020)
âHow are âabsoluteâ and ârelativeâ poverty measured? What modification in it has been suggested by Amartya Sen? What are the recent advances in the area of poverty measurement? Discuss. (25,2013)
âHow is development looked upon by A. K. Sen in terms of freedom and poverty as unfreedoms? Point out his narration of five dimensions of poverty. (10,2013)
âDiscuss Amartya Senâs poverty measure and recent advances in poverty measurement. (15,2011)
âHow is the methodology followed by the Rangarajan Committee different from that of the Tendulkar Committee in measuring poverty in India? (10,2019)
âExplain how multidimensional poverty index is calculated. (10,2018)
âThrow light on the poverty debate in the pre-liberalisation era in India/ (15,2018)
âCritically examine the difference between absolute poverty and relative poverty. Between the two, which is more appropriate? Give reasons. (20,2016)
âDiscuss the various measures of poverty with policy implications for removal of poverty. (20,2012)
Poverty Alleviation Schemes
âComment on poverty alleviation schemes undertaken by GoI for urban poor. (10,2020)
âMarket economy excludes poor from the consumer as well as employment market. Discuss how one can safeguard the interests of the population below poverty line. (15,2015)
âElaborate growth-mediated strategy security and support-led security strategies of poverty alleviation given by Jean Dreze and Amartya Sen. (20,2014)
âHighlight the issues of Bhagwati-Sen controversy over tackling poverty and slow growth rate. (10,2014)
âPoverty alleviation strategy of the day is moving ahead of Redistribution with Growth (RWG) of Chenery and the World Bank and Dreze and SenŐs Growth-mediated security and Support-led security strategies to Empowerment, Opportunities and Security lines. Elaborate. (30,2011)
âWould you advocate a programme of Universal Basic Income (UBI) to reduce extreme poverty in India? Discuss in detail. (15,2019)
âThe various anti-poverty programmes have not achieved the desired socio-economic progress in India. Write down the major programmes and your broad-based assessment of their weaknesses. (20,2017)
âRural poverty continues to be a chronic problem in India, which cannot be taken care of by anti-poverty programmes but by creation of permanent productive assets. Discuss. (20,2015)
âExplain why in spite of poverty alleviation schemes number of the poor has not fallen very much. (12,2012)
ââBy restricting social benefits to BPL households, the poverty line (in India) will be fully converted from a statistical benchmark to a real-life social divisionâ (Dreze). Discuss. (15,2011)
âExplain the concept and the underlying rationale of âUniversal Basic Incomeâ. (10,2017)
Inequality
âAnalyse the validity of the inverted U-shaped hypothesis of Kuznets in the context of changes in inequality in India. (15,2020)
âAnalyse trends in GDP growth and inequality during the first 3 decades of planning in India. Has the distribution of income in India become more equal during the post reform period? Suggest some policy measures that could help reduce income inequalities. (20,2020)
âExplain why in spite of economic planning income distribution has turned more unequal through time. (12,2012)
âReflect on the relationship among economic growth, inequality and poverty in the post-reform period in India. (15,2018)
âIndiaâs economic growth is associated with rising inequality. How does it so happened and what actions need to be taken to mitigate the problem? (20,2017)
âExplain the major tools for measuring inequality. Highlight the more appropriate method of measuring inequality. (15,2016)
Population
âIndia has a vast potential to reap a demographic dividend. Explain the point and discuss the necessary measures to realise it. (15,2017)
âHow does the population growth affect economic development of a country? Can the age structure of population alter the pattern of development in a country? Examine in the light of the Indian experience. (20,2015)
ââPopulation is not just a denominator to deflate aggregates. It is determined by the level and pattern of economic development.â Comment. (20,2012)
social welfare maximizationâ. (15, 2017) (subset of Q8)
