|Course Code :||MEC-004|
|Course Title :||Economics of Growth and Development|
|Program :||MA Economics / MEC|
|Max Marks :||100|
|Session :||July 2021 and January 2022 (2021-22)|
|Last Date of Submission :||31st March, 2022 (for July 2021 session)
30th September, 2022 (for January 2022 session)
|Solution Type :||Softcopy (PDF File)|
TUTOR MARKED ASSIGNMENT
MEC-004: ECONOMICS OF GROWTH AND DEVELOPMENT
Course Code: MEC-004
Asst. Code: MEC-004 / AST-1/2021-2022
Total Marks: 100
Answer all the questions. Each question in Section A carried 20 marks while that in Section B carries 12 marks.
1) Discuss the main sources of economic growth. Discuss the main adverse repercussions on the economy that the process of economic growth can have.
2) What do you understand by technical progress? What is the relationship between technical progress and growth of total factor productivity? Discuss the various conceptions of neutral technical progress as put forward by Hicks, Harrod and Solow.
3). 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.
4) What are the main propositions of the Real Business Cycle model? Describe the basic structure of a prototype Real Business Cycle model.
5) Compare and contrast Adam Smith’s theory of development with that of Ricardo’s.
6) Discuss the Harris-Todaro model of migration. What has been the impact of this model? What is its relevance for developing nations?
7) Explain the meaning of cost-benefit analysis. Describe briefly the usual steps taken in a typical cost benefit exercise.
Keywords: MEC-004, MEC004, MEC 004, MEC-4, MEC4, MEC 4, MEC-04, MEC04, MEC 04, IGNOU Solution Guide, Answer Key
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