MEC-106 No. of Printed Pages ‘7 M. A. (ECONOMICS) (MEC) Term-End Examination December, 2021 MEC-106 : PUBLIC ECONOMICS Nme: 3 Hours Maximum Marks : 100 Note; . Ole : Attempt questions from each Section as per instructions given. . WS Section—A Note: Attempt any two questions from this Section & in about 700 words each. 20 each Show that the welfare foundations of economic policies in a competitive market is guided by Pareto criterion. 2, Discuss, how ‘externalities’ cause _ inefficiency : when markets are incomplete, PTO: e 3 ‘Scanned with CamScanner[2] MEC-106 8. .Compare the output decisions of. different types of producers in situations of alternative organisational control. 4. Critically examine the institutional framework for intergovernment fiscal transfers in India. Section—B Note : Attempt any five questions from this Section in about 400 words each. 12 each 2 Indicate how ‘government intervention’ is critical incorrecting distortions in economic activities. Vv Specify the classificatory framework and characteristics of ‘Global Public Goods’. 7.. Outline the scope of ‘mechanism design’ relating it to ‘implementation theory’ and ‘game theory’. . > State the principle behind ‘Inverse Elasticity Rule’ along with its limitations. 9. \ Write a note on the issues behind the ‘efficiency- “equity trade-off in public expenditure, £ Scanned with CamScanner(3] MEC-106 fo. Determine the conditions for ‘debt sustainability’. ‘decentralisation theorem’ with its . State the f “a multi-level rationale “in the context ° government structure. 12. Present arguments, for and against, government intervention to rectify macroeconomic ~ instabilities in.an economy. & ap ely me Tat . i / : : . P.T.0. Scanned with CamScannerI aor-oay 141) MEC-106 yh ancitthnos “ MEC106- | | eee ores freer, 2021 wudrh-106 2 cirep arelgren wae : 3 wae aifirema a : 100 We: weke om 8 Aerger yet # sa fr | ara We: ta a feet at wet S aR Sire we att 700 wel! ate 20 ! 1. WH sfreréf aan 4, onftie sifrat ar citer wear omen, Ret wee a, Aen sat 21 WERT) us a Scanned with CamScanner. 181 MEC-106 ait AE se BE ST HL Set co a OE : SN ce #0 | ana 8. sR -RaR, fart gre. (eransten) 3 faq derma Ga Ft suetaITs ETS Scanned with CamScannerA [6]. MEC~105 aise fra vero fra wore? we 9) fapenfiy RET (Mechanism design) 7 fare FASCIA (implementation theory) . Wt © ORE RTEre Game theory) @ sted EE sae Hr aa a att aire 4 8. ‘afacia ce fram’ bits & frend at dies vafea caren feral a, sta oe a ‘sama | arise’ ___ (Cfficiency equity trade off) # td at areait “ary ° 4 Scanned with CamScannerf 17] ” MEC-106 10. a FRAT (Debi sustainability) t wal Ft Fruita sti 1. agenda BER woreht! SF wed A ‘frarateHeT we’ st aadna caren afer 1. wate ans after. a qe acs fee (wet wads @ ve she firme a wal afer aren aif MEC-106 Scanned with CamScanner