LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
M.A. DEGREE EXAMINATION – ECONOMICS
THIRD SEMESTER – NOVEMBER 2012
EC 3809 – PUBLIC ECONOMICS – I
Date : 03/11/2012 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
Part – A (5 x 4 = 20)
Answer any FIVE questions in not exceeding 75 words each. Each answer shall carry the maximum mark of four only:
- Explain the impact of free riders’ problem in the provision of public goods.
- Distinguish between tax purchase and borrowing purchase mechanism. Which one is a feasible option?
- State Wagner’s law.
- What is administered price mechanism?
- How our government should utilize disinvestment proceeds?
- Define shadow prices. Why are they necessary?
- Define fiscal, revenue and primary deficits.
Part – B (4 x 10 = 40)
Answer any FOUR questions in not exceeding 300 words each. Each answer shall carry the maximum mark of ten only:
- Compare and contrast commercial benefit cost analysis with social benefit cost analysis.
- Explain various types of cost and benefits arising out of a public sector project.
- Explain voluntary exchange model of provision of public goods.
- Critically evaluate Alan. T. Peacock and Jack Wiseman model of public expenditure.
- What are the consequences of rising internal debt of government of India?
- Compare planning programming and budgeting system with traditional budgeting procedure.
- Critically evaluate the welfare objectives of public sector pricing policies.
Part – C (2 x 20 = 40)
Answer any two questions in not exceeding 900 words each. Each answer shall carry the maximum mark of twenty only:
- How do we select public sector projects for execution by following discounting methods?
- Critically evaluate Paul Antony Samuelson’s model of public expenditure.
- Assess the role of public sector units in India.
- What is fiscal mismanagement? What is the role of public debt in fiscal mismanagement?
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