Tuesday, October 13, 2020

MEC 006 PUBLIC ECONOMICS December 2019 Question Paper



December 2019 Question Paper

Time : 3 Hours] (Maximum Marks : 100

Note : Attempt questions from each section as directed.

Section - A

Attempt any two questions from this section. (Answer in about 500 words each.)

1. Define Public Economics. Critically examine why public Economics is sometimes called welfare Economics.

2. Why does coordination failure take place? Suggest effective interventions to cope with this problem.

3. Discuss the concept of market failure and explain the factors responsible for it.

4. Explain the main features of Indian Tax structure with emphasis on fiscal federalism.

Section - B

Attempt any five questions from this section. (Answer in about 300 words each.)

5. Distinguish between 'Public' good and merit good. Discuss the role of government in their provisioning.

6. Write notes on any two of the following.

a) Grants in aid

b) Log rolling

c) Tiebout model

d) Strategy voting

7. Discuss some of the advantages of decentralisation.

8. What are the implications of 'Crowding out' in an economy?

9. Explain 'inverse elasticity rule' for optional commodity taxation.

10. 'Privatisation fosters efficiency and innovations' Explain.

11. Explain Samuelson-Bergson's social welfare function.

12. How does 'Ability may approach' help in designing of an equitable tax structure?