LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

SECOND SEMESTER – APRIL 2011

EC 2501/EC 2500 – MICRO ECONOMICS – II

 

 

 

Date : 08-04-2011              Dept. No.                                       Max. : 100 Marks

Time : 9:00 – 12:00

 

PART –A

 

Answer any FIVE questions in about 75 words each:                                                   (5×4=20 marks)

 

1. Bring out the meaning of distribution.
2. Briefly explain the concept of Marginal Physical Productivity.
3. What is collective bargaining?
4. Write a note on differential rent.
5. What is social welfare?
6. Differentiate between internal trade and international trade.
7. Write a note on different economic systems.

PART – B

 

Answer any FOUR questions in about 300 words each:                                (4×10=40 marks)

 

8. Explain factor pricing in terms the marginal productivity theory under conditions of perfect competition.
9. Distinguish between perfect competition and imperfect competition in factor markets
10. Bring out the essence of modern theory of Rent
11. State the meaning of profit. Bring out the difference between risk and Uncertainty
12. Bring out the limitations of the pareto criteria.
13. Explain the concept of gains from international trade.
14. Explain the role of price mechanism in a capitalistic economy.

PART – C

 

Answer any TWO questions in about 900 words each:                                   (2×20=40 marks)

 

15. Critically examine wage determination under conditions of collective bargaining.
16. Critically examine the modern theory of interest.
17. Explain and illustrate the conditions for the attainment of the pareto Equilibrium.
18. Compare the advantages and disadvantages of free-trade with protective trade.

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