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MEC
MASTER OF
ARTS
(ECONOMICS)
ASSIGNMENTS 2020-21
Second Year Courses
(For July 2020 and January 2021
Sessions)
(TMA)
(2020-21)
Submission
For July 2020 session, you
need to submit the assignments by March
31, 2021, and for January 2021 session
by September 30, 2021 for being
eligible to appear in the term-end examination. Assignments should be submitted
to the Coordinator of your Study Centre. Obtain a receipt from the Study
Centre towards submission.
Assignment (TMA)
Course
Code: MEC-006
Assignment
Code: MEC-006/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
Section A
1)
What is
the basic idea behind the “Pure Theory of Public Expenditure’: Discuss briefly.
Also, what is the theoretical rationale behind Lindahl Pricing?
2)
State the ideal conditions for
meeting the ‘socially optimum criteria’ for utility pricing. Also, critically
discuss the utility pricing rules for ‘best solutions’.
Section B
3)
Using different tax rates demonstrate how the
deadweight loss could be minimised?
4)
On what ground did the classical
economists oppose public debt? What counterview is proposed by the modern
economists in their view on public debt?
5)
What is a Social Welfare Function? Explain this concept with the help of the
Samuelson-
Bengson’s
Social Welfare Indifference Curves.
6)
Discuss the Bowen and Black’s models for the
identification of ‘Median Voter Preference’.
7)
State the main problems in
international policy coordination. Suggest methods on how they can be solved?
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MEC-106: PUBLIC ECONOMICS
Assignment (TMA)
Course
Code: MEC-106
Assignment
Code: MEC-006/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
Section A
1)
Discuss the welfare concepts,
inbred in the different forms of social welfare functions, which form the
foundation of policies in public economics.
2)
Elucidate the two theoretical
models attributed to Lindahl and Samuelson in the context of public goods.
Section B
3)
Outline how internalisation of
negative externalities could be a solution to externalities through the
instruments of taxation and property rights.
4)
State Arrow’s impossibility
theorem with conditions. Also, illustrate the element of impossibility in
Arrow’s theorem.
5)
Highlight
the argument behind the ‘revenue maximisation’ approach to public expenditure.
6)
Establish how under conditions of
‘imperfect competition’ government enhances overall social welfare.
7)
Delineate the ‘alternative
strategies’ available to ensure the required money supply in an economy.
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MEC-007: INTERNATIONAL TRADE AND FINANCE
Assignment
Course Code: MEC-007
Asst. Code: MEC-007 /
AST-1/2020-2021
Total Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
SECTION A
1)
Critically
discuss the Ricardian theory of Comparative Advantage. How is it different from
Adam Smith’s theory of Absolute Advantage?
2)
Explain
the various concepts of terms of trade. Critically examine the behavior of
terms of trade as explained by Prebisch
SECTION B
3)
Explain multilateral framework of
international trade. Explain its main features.
4)
What are
the various forms of economic integration? How is trade diversion different
from trade creation? Elucidate.
5)
Describe the evolution of
international monetary system. Examine the trends in the international monetary
and financial systems.
6) Discuss
the various instruments of trade protection. Differentiate between quotas and
tariffs.
7) Critically
examine the relative merits and demerits of the fixed and flexible exchange
rates.
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MEC-008: ECONOMICS OF SOCIAL
SECTOR
AND ENVIRONMENT
Assignment (TMA)
Course
Code: MEC-008
Assignment
Code: MEC-008/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
Section A
1)
How does
taking the ‘income levels’ as an indicator of development defeats the objective
of tackling the multi-faceted dimensions of development? Explain.
2)
Discuss
the Gordon’s contention that the ‘optimal size of fishery is one which
maximizes sustainable resource rent’ with appropriate theoretical
justification.
Section B
3) Explain
the transition to ‘institutional economics’ from ‘neoclassical economics’.
4)
What are the essential
differences in the two approaches of ‘shadow prices’ and ‘hedonic pricing’
methods as ‘valuation tools of environmental functions’.
5) Write a
note on the different types of ‘common property resource’.
6)
Bring out the inter-regional
variations in ‘expenditure on education’ in India as it obtained in the early
years of 2000s.
7)
Make a case in favour of levying
the ‘user fees’ for public health facilities. What are the arguments that can
be offered ‘for and against’ such a proposal?
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MEC-108: ECONOMICS OF SOCIAL
SECTOR
AND ENVIRONMENT
Assignment (TMA)
Course
Code: MEC-108
Assignment
Code: MEC-108/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
Section A
1)
Discuss
the various situations of ‘market failure’ leading to environmental
degradation.
2)
Discuss
the significance of ‘efficiency wage’ in contributing to health and
productivity of workers.
Section B
3) Explain
how ‘poverty’ is not the sole determinant of malnutrition.
4) Specify
the fundamental challenges of using the non-renewable resources optimally.
5)
Derive the results for the
optimal use of renewable resources under the discrete and continuous time
frames.
6) Describe
the concept of ‘quasi markets’ in the provisioning of public services.
7)
Derive the conditions of
optimality for buying health insurance in cases of absence/presence of free
riders.
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MEC-109: RESEARCH METHODS IN
ECONOMICS
Assignment (TMA)
Course Code: MEC-109
Assignment Code:
MEC-109/AST/2020-21
Maximum Marks: 100
NOTE:
1.
All
questions are compulsory.
2.
Questions
in Section A carry 20 marks each and are to be answered in about 700 words
each.
3.
Questions
in Section B carry 12 marks each and are to be answered in about 400 words each
Section-A
1. What are the key features of interpretative philosophy of science? Using
a suitable example from economics, select a theme and write a proposal in about
500 words using interpretative research methodology.
2. Distinguish between tools of data collection and methods of data
collection. Discuss the various methods of Random Sampling. How will you decide
the suitable method of data collection among various random sampling methods?
Section-B
3. State the different functional forms of regression model. How do you
interpret the estimated slope coefficient β of a log linear regression model?
4. State the properties of Lorenz Curve. When will comparison between two
Lorenz curves fail to compare inequality in two distributions?
5. What is correspondence analysis? Explain with example the various steps
involved in correspondence analysis.
6. What is participatory research? Identify the various steps involved in
data analysis of participatory research.
7. Name the different sources that provide data on employment. Explain the
different measures of employment and unemployment used by NSSO in different
quinquennial surveys.
MECE-001: ECONOMETRIC METHODS
(Assignment)
Course
Code: MECE-001
Asst.
Code: MECE-001/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each,
those in Section B carry 12 marks each.
Section A
1.
What do you understand by
autocorrelation? What are the consequences of autocorrelation? How do you
detect autocorrelation in a data set? Explain the steps you would follow to
remove the problem of autocorrelation.
2. Consider
the regression equation 
where 
is a
stochastic error term.
(a) Explain
the need of including the in the
model
(b) What
assumptions regarding the error term are needed to prove the Gauss-Markov
theorem?
(c) Prove the
Gauss –Markov theorem for the estimator of 
Section B
3.
What is
meant by heteroscedasticity? Explain one of the remedial measures for the problem
of heteroscedasticity.
4. What is
meant by dynamic model? Explain how the following model can be estimated?
where
zero and
variance
and
+
. In the above model 
is distributed independent, normal with mean
5. What is
meant by indirect least squares (ILS) method? Explain how the following model
can be
estimated
using this method?
Demand
function: 
Supply function: 
where Q = quantity, P = Price, and 
=
income.
6.
Explain
the steps followed in estimation of parameters through the method of
Generalised least squares (GLS).
7.
Explain
the concept of multicollinearity. What are its consequences on estimates? What
remedial measures would you suggest for problem of multicollinearity?
MECE-003: Actuarial Economics:
Theory and Practice
Assignment (TMA)
Course
Code: MECE-003
Assignment
Code: MECE-003/AST/2020-21
Maximum
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each (to
be answered in about 500 words each) those in Section B carry 12 marks each (to
be answered in about 300 words each). In the case of numerical questions word
limits do not apply.
Section A
1)
(a) Why is it necessary to model
interest stochastically? How is a model of ‘stochastic interest’ developed? (b)
Differentiate between the features of ‘classical and Bayesian analysis of
credibility theory’.
2)
You are required to demonstrate
the interplay between ‘finance and insurance principles’. How would you
approach this problem with the help of ‘unit-linked insurance contracts’?
Section B
3)
State Markov’s theorem with
illustrations. What is the condition required to be met by a random variable R
in order to possess the Markov property?
4)
How is a ‘survival function’
defined? In what way is a ‘hazard function’ different from the ‘survival
function’?
5)
How is Lundberg Risk Model
formulated? Suggest modifications therein so as to offer an alternative to it.
6)
State the Optional Stopping
Theorem. What technique could be used to analyse the ‘collective risk’?
7)
Write short notes on: (a)
Compound-Poisson Process; (b) Black-Scholes Theorem; (c) Panjer Recursion; and
(d) Risk neutral evaluation.
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MECE-004:
FINANCIAL INSTITUTIONS AND MARKETS
Assignment
Course
Code: MECE-004
Asst.
Code: MECE-004 / AST-1/2020-2021
Total
Marks: 100
Note:
Answer all the questions. While questions in Section A carry 20 marks each,
those in Section B carry 12 marks each.
SECTION A
1)
Describe the nature of the
financial system in a modern economy giving the important types of constituent
institutions, markets and instruments. Explain the concept of flow-of-funds in
the financial markets
2)
Discuss
the Markowitz theory of efficient portfolio selection. How does the Capital
Asset Pricing Theory
(CAPM) theory build on it?
.
SECTION B
3)
Explain
the Arbitrage Pricing Theory.
4) Explain the need for, and role of depository systems
in secondary markets. Explain the concept of custodial services.
5) Give a theoretical model of central banking,
bringing out the relationship between the monetary base and monetary
aggregates. What are instruments of monetary policy used by central banks?
6)
Compare
the impact of monetary policy under fixed exchange rates with those under
flexible exchange rates.
7)
Discuss
the concept of leverage for a firm. Discuss the important financial and
leverage ratios used. Explain the Merton-Miller theorem.
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MGSE-009:
GENDER ISSUES IN WORK, EMPLOYMENT AND
PRODUCTIVITY
Tutor Marked Assignment (TMA -01)
MWG 011
WOMEN IN THE ECONOMY
Tutor
Marked Assignment (TMA -01)
MEDSE-46 : DEVELOPMENT ISSUES AND PERSPECTIVES
Tutor-Marked Assignment-1 (TMA-1)
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