LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
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M.A. DEGREE EXAMINATION – ECONOMICS
THIRD SEMESTER – APRIL 2008
EC 3809 – PUBLIC ECONOMICS – I
Date : 29/04/2008 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART-A
Answer any FIVE questions in about 75 words each. Each answer shall carry the maximum marks of four only. (5×4= 20 marks)
- What is stabilization function of fiscal policy?
- What is meant by the theory of social choice?
- Bring out the effect of externalities in judging a public project.
- State the Kaldor-Hicks compensation criteria.
- Distinguish between NPV and IRR.
- Illustrate with a diagram marginal cost pricing of public goods.
- List out the social costs and benefits arising out of an irrigation project.
PART-B
Answer any FOUR questions in not exceeding 300 words. Each answer shall carry the maximum marks of ten only. (4×10=40 marks)
- “Public goods and private goods differ drastically from each other.” Explain.
- Explain the political interaction costs of democratic voting.
- “Wagnar’s law of public expenditure is by and large true.” Do you agree?
- What are the problems encountered in the measurement of costs and benefits for a public sector project?
- What are the advantages of PPBS over traditional budgeting?
- “Internal debt poses no burden. “- Comment..
- Should public sector undertakings necessarily make profits? Support your answer.
PART-C
Answer any TWO questions in about 900 words. Each answer shall carry the maximum marks of twenty only. (2×20=40 marks)
- Explain in detail James.M.Buchanan’ s model of public expenditure in a small number case and large number case.
- Evaluate the Budget Model of public expenditure by P.B.Musgrave and R.A.Musgrave.
- Account for the poor performance of public sector undertakings in India. What remedial measures do you suggest?
- Do you think size and growth of India’s debt is a cause of concern? If so, how will you address the problem?
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