MEC 006 Public Economics Solved Assignment 2024-25
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Section-A
Answer the following questions in about 700 words each. Each question carries
1. (i) “The overall welfare of the society essentially depends on the individual utility level”- In the
light of this statement, explain the various approaches of social welfare functions. How does public
intervention can meet the problems associated with negative externalities?
(ii) Explain with example how collective decision making is distinct from individual decisions
making? On what basis an individual ranks various social state?
2. What do you mean by the term “market failure”? Give an account of the factors causing market failure? What kind of state intervention is required to address the problems associated with Monopoly Power?
Section B
Answer the following questions in about 400 words each. Each question carries
3. State the features of local public goods and services. Do you think that ‘citizen- consumer choice’ is ignored by the local governments? Give illustration.
4. Distinguish between public expenditure and private expenditure. To what extent public expenditure should be incurred? Explain the theory of maximum social advantages advanced by H. Dalton in this regard.
5. Write short note on following:
(i) Global peace index
(ii) Nash equilibrium
(iii) Dual federalism
(iv) Sink Costs
6. What is fiscal deficit? Explain the various ways through which fiscal deficit is financed.
7. What do you understand by the term ‘Macro Economic instabilities’? Which policy instruments would you like to suggest for stablishing an economy suffering from macroeconomics shocks?
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MEC 006 Solved Assignment 2024-25
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MEC 006 Public Economics Solved Assignment 2024-25 Before ate mpting the assignment, please read the following instructions carefully.
- Read the detailed instructions about the assignment given in the Handbook and Programme Guide.
- Write the course title, assignment number and the name of the study centre you are attached to in the centre of the first page of your response sheet(s).
- Use only foolscap size paper for your response and tag all the pages carefully
- Write the relevant question number with each answer.
- You should write in your own handwriting.