|Course Code :||MEC-004|
|Course Title :||Economics of Growth and Development|
|Program :||MA Economics / MEC|
|Max Marks :||100|
|Session :||July 2020 and January 2021 (2020-21)|
|Last Date of Submission :||15th March, 2021 (for July 2020 session)
15th September, 2021 (for January 2021 session)
|Solution Type :||Softcopy (PDF File)|
TUTOR MARKED ASSIGNMENT
MEC-004: MACROECONOMIC ANALYSIS
Course Code: MEC-004
Assignment Code: MEC-004/2020-21
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.
1) Examine the effect of population growth in the Solow model of economic growth. Discuss how the Solow model could be used to explain poverty traps in developing nations.
2) Describe the Mankiw-Romer-Weil extension to the neoclassical model to include human capital. Explain why diminishing returns to capital do not take place in the AK model.
3) Distinguish between economic growth and development. Briefly mention the main benefits that economic growth confers upon society.
4) Describe Pasinetti’s theory of economic growth and distribution.
5) Describe the various approaches to the measurement of total factor productivity.
6) What are the main propositions of the Real Business Cycle model? Describe the basic structure of a prototype Real Business Cycle model.
7) Compare and contrast the Uzawa two-sector growth model with the Feldman model.
Keywords: MEC-004, MEC004, MEC 004, MEC-4, MEC4, MEC 4, MEC-04, MEC04, MEC 04