MEC-004 Solved Assignment 2018-19 (Economics of Growth and Development)

Description

Course Code :	MEC-4
Course Title :	Economics of Growth and Development
Assignment Code :	MEC-004/AST/2018-19
Maximum Marks :	100
Weightage :	30%
Last date of Submission :	31 March, 2019 (for July 2018 Session) 30 September, 2019 (for January 2019 Session)

Note: Answer all the questions. While questions in Section A carry 20 marks each (to be answered in about 700 words each) those in Section B carry 12 marks each (to be answered in about 500 words each). In the case of numerical questions word limits do not apply.

SECTION-A

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.

SECTION-B 

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.