MASTER OF ARTS
(ECONOMICS)
ASSIGNMENTS 2011-12
First Year Courses
(For July 2011 and January 2012 Sessions)
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
SCHOOL OF SOCIAL SCIENCES
DISCIPLINE OF ECONOMICS
Dear Student,
Beginning with January 2011
batch, the programme structure of of MA(Economics) is as given below. If you
have received an older version of the MEC Progarmme Guide or Common Prospectus
please note the changes.
|
Sl.
|
Course Code
|
Title of the course
|
Type of course compulsory/ optional
|
Credits
|
Remarks
|
First Year Courses – all compulsory |
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|
1.
|
MEC-001
|
Microeconomic
Analysis
|
Compulsory
|
6
|
|
|
2.
|
MEC–002
|
Macroeconomic Analysis
|
Compulsory
|
6
|
|
|
3.
|
MEC–003
|
Quantitative Methods for Economic
Analysis
|
Compulsory
|
6
|
|
|
4.
|
MEC–004
|
Economics of Growth and
Development
|
Compulsory
|
6
|
|
|
5.
|
MEC–005
|
Indian Economic
Policy
|
Compulsory
|
6
|
|
Second Year courses – 4 compulsory, 2 optional |
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|
6.
|
MEC–006
|
Compulsory
|
6
|
|
|
|
7.
|
MEC-007
|
International Trade and Finance
|
Compulsory
|
6
|
|
|
8.
|
MEC–008
|
Economics of Social Sector and Environment
|
Compulsory
|
6
|
|
|
9.
|
MEC–009
|
Research Methods in Economics
|
Compulsory
|
6
|
Now a compulsory course
|
|
10.
|
MECE–001
|
Econometric Methods
|
Optional
|
6
|
|
|
11.
|
MECE–003
|
Actuarial Economics: Theory and Practice
|
Optional
|
6
|
|
|
12.
|
MECE–004
|
Financial Institutions and Markets
|
Optional
|
6
|
|
|
13.
|
MPA- 015
|
Optional
|
8
|
MPA-015 and MPA-017 are to be opted together.
|
|
|
14.
|
MPA - 017
|
Optional
|
4
|
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15.
|
MECP-001
|
Optional
|
6
|
Now in the optional group
|
|
Master of Arts (Economics)
Assignments
(2011-12)
Dear
Student,
As explained in the
programme guide for MEC, assignments carry 30 per cent weightage in a course
and it is mandatory that you have to secure at least 40 per cent marks in
assignments to complete a course successfully. Note that you have to submit the
assignments before appearing in Term End Examination of a course.
Before attempting the
assignments please read the instructions provided in the programme guide sent
to you separately. There are five compulsory courses in the first year. In each
course there is a Tutor Marked Assignment (TMA). You have to prepare and submit
the assignments separately for each course. Make sure that you submit the
assignments well in time for those courses in which you plan to appear in the
Term End Examination.
Submission
For July 2011 session, you
need to submit the assignments by March 31, 2012, and for January 2012
session by September 30, 2012 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.
MEC-001: MICROECONOMIC ANALYSIS
Assignment
Course Code: MEC-001
Assignment Code: MEC-001/TMA/2011-12
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. Explain the concept of Nash equilibrium.
How is it related to (a) Dominant strategy equilibrium and (b) Sub-game perfection?
2. What is indirect utility
function? How will you derive an indirect utility function from a direct
utility function? Explain Roy’s identity.
Section B
3. Derive the
elasticity of substitution for the Cobb-Douglas production function 
4. What are the recommendations of Coase
to solve the problem of externalities?
5. Explain
Arrow’s Impossibility Theorem.
6 Discuss
the concept of asymmetric information. Explain the relation among moral hazard,
adverse selection and signaling, giving suitable examples.
7. Do
you agree with the proposition that a risk-averse person will optimally buy
full insurance if the insurance is actuarially fair? Give reasons in support of
your answer.
MEC-002: MACROECONOMIC
ANALYSIS
Assignment
Course Code: MEC-002
Assignment Code:
MEC-002/AST/2011-12
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 meant by steady state in the
Solow model? Explain how Golden Rule is different from steady state.
2. Explain how the permanent income
hypothesis reconciles the difference between short-run and long-run consumption
behavior.
Section B
3. Policy makers should stick to rules
instead of pursuing discretionary polices. Do you agree with the above
statement? Substantiate your answer.
4. Explain in brief the salient features
of real business cycle theory. In what respects is it different from other
theories of business cycle?
5. Explain why firms may offer a higher
wage to workers than the equilibrium wage rate.
6. Bring out the important issues on which
Lucas criticizes Keynesian macroeconomics. To what extent the New-Keynesian
economists have accepted these criticisms?
7. Write short notes on the following.
a)
Rational expectation and adaptive expectation
b)
Non-accelerating Inflation Rate of Unemployment
MEC-003:
QUANTITATIVE METHODS
Assignment
Course Code: MEC-003
Asst. Code: MEC-003
/ AST-1/2011-12
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.
How do you use differential equations in economics?
What type of situations can be helpfully depicted using differential equations?
Discuss the role of initial condition in solving a differential equation. If
your objective is to examine the stability of equilibrium, with the help of an
example, show how a second-order differential equation helps in addressing your
concern.
2.
Give examples of problems
where you can make use of Poisson distribution. Does it have a probability
density function? Why or why not? Discuss your answer in the context of the
rnean and variance of Poisson distribution.
Section B
3.
Explain the relevant considerations of making a choice
between one-tailed and two-tailed tests. How would you determine the level of
significance in the above tests?
4.
A linear programming problem
is given as
Min z = 30 x1+
50x2
Subject to
Find its optimal solution.
5.
How would you determine linear dependence of a matrix?
Define the rank of a matrix in terms of its linear independence.
6. The correlation coefficient between
nasal length and stature for a group of 20 Indian adult males was found to be
0.203. Test whether there is any correlation between the characteristics in the
population.
7. Write short notes on the following:
a)
Eigen-vectors and Eigen-values
b) Taylor’s expansion
c) Mixed strategy
d) Kuhn-Tucker condition
MEC-004: ECONOMICS
OF GROWTH AND DEVELOPMENT
Assignment
Course Code: MEC-004
Asst. Code: MEC-004/AST/2011-12
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. Critically examine the basic
formulations of the Harrod – Domar model of economic growth. How does the
Harrod model explain the occurrence of trade cycles?
2. Discuss the concept of Golden Age
Equilibrium in Joan Robinson’s Model. What are its main criticisms?
Section
B
3. Define any three of the following
a)
The golden rule of accumulation
b)
The Real Business Cycle model
c)
Tragedy of the commons
d) Vicious circle of poverty
e)
Evolutionary Growth
4. Explain the concept and implications of
globalization. Also, discuss its advantages and shortcomings.
5. Critically
evaluate the theory of critical minimum effort. Also bring out its limitations.
6. Explain the meaning of planning as an
instrument of resource allocation. Why is there a need for planning in the
development process?
7. Differentiate
between
a) Embodied progress and Disembodied progress
b)
Harrod neutrality and Hicks neutrality
c)
Capital augmenting and capital deepening.
MEC-005: INDIAN
ECONOMIC POLICY
Assignment
Course Code: MEC-005
Assignment Code:
MEC-005/AST/2011-12
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).
Section A
1. “A number of steps can reduce the
severity, spread and size of the black economy in India.” Give the future
directives on the parallel economy and cite the practical obstacles faced on
the way to fight the black economy.
2. “In the wake of globalisation, in order
to protect the vulnerable groups, different strategies of employment need to be
followed”. Comment
Section B
3. Discuss the instruments of monetary
policy and throw light on the main features of monetary policy from the
late-1990’s onwards.
4. In the light of the parameters for
assessing economic reforms, critically examine its impact on the Indian
economy.
5. Explain how Minimum support price
(MSP), microfinance, easy access to credit and agricultural marketing help in
addressing the issues in the agricultural sector?
6. ‘Policy-reform is an on-going process’
- discuss the statement by making suggestions for foreign capital policy.
7. Explain any three of the following.
a)
Portfolio Investment and Direct business investment
b)
Issues in union-state financial relations
d) Poverty
ratio and working poor
e)
Functions and Objectives of the WTO
f)
Distinction between Member-Based Organisations and
Non-Governmental Organisations
