LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

RF 8

SECOND SEMESTER – APRIL 2006

                                                        EC 2500 – MICRO ECONOMICS – II

(Also equivalent to ECO501/E 217)

 

 

Date & Time : 24-04-2006/1.00-4.00 P.M.   Dept. No.                                                       Max. : 100 Marks

PART – A

Answer any FIVE questions in about 75 words each.       (5 ´ 4 = 20 Marks)

1. What are functional and personal distributions?
2. Explain the concept of optimum tariff.
3. When can trade be possible between two countries?
4. What is terms of trade?
5. Write a short note on Pareto optimum?
6. Explain the concept of Quasi rent.
7. What do you mean by transfer earnings?

PART – B

Answer any FOUR questions in about 250 words each.   (4 ´10 = 40 Marks)

8. Bring out the need for a separate theory of factor pricing?
9. Explain the Ricardian theory of rent?
10. Discuss the absolute cost advantage.
11. How does liquidity preference theory of interest have an edge over earlier theories?
12. Bring out the gains arising out of international trade.
13. Explain the nexus between collective bargaining and wage determination.
14. Discuss the role of prices in market economy.

PART – C

Answer any TWO questions in about 900 words each.     (2 ´ 20 = 40 Marks)

15. Critically analyse the Classical theories of international trade.
16. Explain the factor endowment theory with necessary illustration.
17. Discuss the case for and against free trade.

Explain the marginal productivity theory of factor pricing under competitive market conditions.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034      B.A. DEGREE EXAMINATION – ECONOMICS

AN 01

FIRST SEMESTER – NOV 2006

         EC 1500 – MICRO ECONOMICS – I

(Also equivalent to ECO 500)

 

 

Date & Time : 01-11-2006/1.00-4.00           Dept. No.                                                       Max. : 100 Marks

Part  – A

 

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

1. Bring out the relationship between total utility and marginal utility.
2. What is cross elasticity of demand? Explain its use in business economics.
3. Distinguish between market period and long period in economic theory.
4. Calculate the price elasticity of demand between points A & B, B & C, C & D and D & E.

Point          A         B         C         D         C

Dx             12        14        16        18        20

Px              12        10        8          6          4

5. Distinguish between market price and long run price.
6. What is monopoly power? How is it measured?
7. Distinguish between perfect competition and monopolistic competition.

Part – B

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

8. What are the core problems of a capitalistic society? How are they solved?
9. Explain the law of diminishing marginal utility. Bring out its limitations and applications.
10. Distinguish between diminishing returns and returns to scale.
11. What are the salient features of monopolistic competition? Explain each one of them in detail.
12. Explain first and second degrees of discriminating monopoly.
13. Find the utility maximizing combination of
    • Qx and Qy from the following data

Units         1          2          3          4          5          6          7          8          9          10

Mux           50        45        40        35        30        25        20        15        10        5

Muy           100      90        80        70        60        50        40        30        20        10

M = Rs. 15            Px = Rs 1        Py = Rs. 2

• Explain the practical use of law of equi-marginal utility

14. Bring out the relationship between AR, MR and elasticity of demand.

Part – C

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

15. Explain consumer equilibrium under ordinal approach. Divide the price effect into income and substitution effect for a normal good.
16. Analyze the nature of short-run and long-run cost curves.
17. Distinguish between firm and industry equilibrium under the conditions of perfect competition.
18. What are the features of a monopoly firm? How is price determined under monopoly in the short and long run?

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

RF 54

SECOND SEMESTER – APRIL 2007

EC 2500 – MICRO ECONOMICS – II

 

 

 

Date & Time: 20/04/2007 / 1:00 – 4:00 Dept. No.                                                Max. : 100 Marks

 

 

 

PART A

 

ANSWER ANY FIVE QUESTIONS IN ABOUT 75 WORDS EACH

 

1. Define production possibility curve
2. What are the demand and supply components of Loanable funds theory?
3. List out the factors determining the real wages of the worker
4. Explain the concept of Liquidity Trap
5. Write a brief note on Indifference curve and Isoquants
6. Distinguish between Economic Rent and Quasi Rent
7. Explain the term offer curve

PART B

 

ANSWER ANY  FOUR QUESTIONS IN ABOUT  250 WORDS EACH

 

8. “Investment and Saving is a function of rate of interest”- justify
9. What is profit according to Schumpeter?
10. Examine the role of Price Mechanism in a  Mixed Economy
11. Discuss the absolute cost advantage
12. State and explain the Wage Fund Theory and indicate its drawbacks
13. Explain the factors determining gains from trade
14. Highlight the short comings of Marginal Productivity theory of distribution

 

PART C

 

ANSWER ANY TWO QUESTIONS IN ABOUT 900 WORDS EACH

 

15. “ Interest is the reward for parting with liquidity” Elucidate
16. Examine the Modern theory of International Trade
17. State and Explain the Marginal conditions that satisfied the Pareto Optimality
18. “Rent is that portion of the produce of the earth which is paid to the landlord…………Illustrate

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

RF 56

FIRST SEMESTER – APRIL 2007

EC 1500 – MICRO ECONOMICS – I

 

 

 

Date & Time: 24/04/2007 / 1:00 – 4:00   Dept. No.                                             Max. : 100 Marks

 

 

PART  – A

 

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

 

1. Define economics in the words of Alfred Marshall.
2. Distinguish between static and comparative static analysis with suitable examples.
3. Briefly explain the concept ‘Dumping’.
4. What is meant by ‘discriminating monopolist’?
5. Bring out the Marshallian Time element.
6. Briefly explain the basic problems of an economy.
7. ‘Utility is ethically neutral’ – Comment.

 

PART – B

 

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

 

8. Explain the properties of indifference curve.
9. Explain the law of increasing returns to scale using production indifference curve technique.
10. Discuss the concept ‘income elasticity of demand’ with suitable examples.
11. Derive demand curve using indifference curve analysis.
12. Bring out the mathematical treatment of cardinal utility principle.
13. Briefly discuss the equi-marginal utility principle.
14. Explain the law of supply.

 

PART – C

 

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

 

15. Discuss the price-output determination of E.H.Chamberlin’s imperfect market model.
16. Examine the law of variable proportion.
17. Evaluate the perfectly competitive market model.
18. Compare and contrast cardinal and ordinal utility approaches to demand.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

 

TA 01

FIRST SEMESTER – November 2008

EC 1500 – MICRO ECONOMICS – I

 

 

 

Date : 12-11-08                     Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

Part A ( 5 x 4 = 20 marks)

 

      Answer any FIVE questions in about 75 words each.

 

1. What are the determinants of demand and supply of a product.
2. Distinguish between cardinal and ordinal utility
3. Write a note on MRS.
4. Give a brief account on linearly homogeneous production function
5. AFC curve is a rectangular hyperbola – Explain
6. When is a firm under equilibrium. Illustrate a firm’s equilibrium.
7. What are the features of Oligopoly.

 

Part B ( 4 x 10 = 40 marks)

 

Answer any FOUR questions in about 300 words each.

 

1. Define cross elasticity of demand and income elasticity of demand. Using the concepts how will you distinguish between (a) substitutes and complements. ( b) luxury, necessity and inferior goods.
2. Illustrate and explain consumer’s equilibrium using indifference curve approach.
3. Explain the short period production function.
4. Discuss the role of time element  in price determination.
5. Define price discrimination. Examine the equilibrium of a discriminating monopolist.
6. Account for the kink in the oligopolist’s demand curve.
7. Explain the significance of selling cost under imperfect competition.

 

Part C ( 2 x 20 = 40 marks)

 

       Answer any TWO questions in about 900 words each.

 

1. Define price elasticity of demand. What are the various degrees of elasticity of  demand. How will you measure elasticity using the point method. What are the factors influencing price elasticity of demand.
2. Explain the long period equilibrium of a perfectly competitive firm under various cost conditions.
3. Using isoquants explain the equilibrium of a producer under (1) cost minimization and (2) output  maximization objectives.

18. Explain pricing under collusive oligopoly.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

PK 05

SECOND SEMESTER – April 2009

EC 2501 / 2500 – MICRO ECONOMICS – II

 

 

 

Date & Time: 23/04/2009 / 1:00 – 4:00  Dept. No.                                                      Max. : 100 Marks

 

 

PART – A

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

 

1. Explain the factors that determine the factor inputs.
2. Distinguish between Economic rent and quasi rent.
3. What causes uncertainty?
4. Discuss the three concepts of social welfare.
5. Bring out the infant industry arguments for protection.
6. Define protection and explain the various means of protection.
7. Explain the concept of Liquidity trap.

PART – B

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

 

8. Explain the Wage fund theory.
9. “Profit is the reward for making Innovations” –Explain.
10. Enumerate the components of demand for and supply of Lonable funds.
11. Perfect competition will tend to yield an optimal allocation of resources – Discuss.
12. Bring out the arguments put forth by Haberler for case for free trade.
13. Explain the factors that determine the gains from trade.
14. Distinguish between VMP and MRP .How are they related to each other under imperfect competition.

PART – C

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

 

15. Briefly explain the Marginal productivity theory of factor pricing with its limitations.
16. Explain the Keynesian theory of interest. How is it differ from the Classical theory?
17. Discuss the Pareto conditions for achievement of Economic efficiency.
18. Explain the measurement of gains from trade.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

   B.A. DEGREE EXAMINATION – ECONOMICS

FIFTH SEMESTER – NOVEMBER 2010

EC 5507 – FISCAL ECONOMICS – II

 

 

 

Date : 09-11-10                     Dept. No.                                                    Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

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

 

1. Explain the concept of revenue deficit.
2. What are the objectives of customs duty?
3. What are the principles of sales tax?
4. Explain the features of Motor Vehicle Tax.
5. State the obligatory functions of local governments.
6. What are the features of a budget?
7. What are Grants-in-Aid?

 

PART – B

                                       

Answer any FOUR questions in about 250 words each:                              (4 X 10 = 40 Marks)

 

8. Discuss for and against corporate income tax in India.
9. Examine the merits of sales tax.
10. Analyse the effects of personal income tax.
11. Explain the tax and non-tax revenue sources of local governments.
12. Discuss the principles of federal finance.
13. Analyse the limitations of deficit budgeting.
14. Examine the sources of revenue for municipal corporations.

 

PART – C

                                      

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

 

15. What is Value Added Tax? Discuss its advantages and disadvantages.
16. Examine the necessity and methods of financing local governments.
17. Analyse the causes and consequences of deficit budgeting.

Discuss the recommendations of the 12^th Finance Commission.

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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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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

FIRST SEMESTER – APRIL 2011

EC 1500 – MICRO ECONOMICS – I

 

 

 

Date : 12-04-2011              Dept. No.                                                    Max. : 100 Marks

Time : 9:00 – 12:00

 

Part – A

 

Answer any FIVE of the following                                                              5×4=20

 

1. Define Micro Economics
2. Bring out the central economic problems of an economy.
3. State the factors determining elasticity of demand.
4. What are the basic properties of the indifference curve?
5. Explain Marginal Rate of Substitution.
6. What is meant by product differentiation?
7. What are selling costs?

 

 

Part – B

 

Answer any FOUR of the following                                                                        4×10=40

 

8. Differentiate between positive and normative economics.
9. Bring out the price and output determination under monopoly.
10. Explain the reasons for the downward sloping demand curve.
11. Distinguish between price effect and substitution effect.
12. Bring out the importance of Time element in price Theory.
13. Explain the main causes leading to the emergence of Oligopoly.
14. Explain the nature and shape of different cost curves.

 

Part – C

 

Answer any TWO questions.                                                                                    2×20=40

 

15. Explain with the help of a diagram the concept of indifference curves and examine the statement that indifference curve approach is superior to cardinal utility approach.
16. Discuss the law of variable proportion and explain the conditions of its applicability.
17. Explain how price and output are determined under Oligopoly market situation through kinked demand curve approach.

Analyse the conditions in which the firm and the industry will be in equilibrium in the short and the long periods under perfect competition.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

SECOND SEMESTER – APRIL 2012

EC 2501/EC 2500 – MICRO ECONOMICS – II

 

 

 

Date : 16-04-2012              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. What are the equilibrium conditions for a firm operating in perfectly competitive output

and input markets?

1. Elucidate the concept of economic rent.
2. Explain the relation between profit and wage.
3. State the limitations of Pareto’s criterion for welfare.
4. What are the features of international trade?
5. What do you mean by optimum tariff?
6. Bring out the determinants of income distribution.

 

Part – B

 

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

 

1. Explain the factors affecting the demand for an input.
2. What is monopsonistic exploitation?
3. Explain the effect of trade unions on wages.
4. What determines the demand for land? How is rent determined?
5. Explain how the utility possibility frontier is derived.
6. What are the gains from international trade?
7. Discuss the role of prices in an economic system.

 

Part – C

 

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

 

1. Elaborate the concept of risk and its effect on profits.
2. Bring out the difference between economic rent and quasi rent.
3. Explain how factor market equilibrium is achieved under perfect competition.
4. Discuss the Pareto-optimality criterion for welfare.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

FOURTH SEMESTER – NOVEMBER 2012

EC 4503/ 4500 – MACRO ECONOMICS – I

 

 

 

Date : 03/11/2012             Dept. No.                                       Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A                  

 

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

1. Describe the concept of stocks and flows in macro economics.
2. Analyse the components of GNP.
3. What is wage-price flexibility?
4. Define effective demand.
5. Why does IS curve slope downwards?

6. Distinguish the concepts of ex-ante and ex-post savings.

1. What is disposable income?

PART – B                  

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

1. Distinguish between micro and macro economics.
2. Explain the circular flow of income.
3. Discuss Say’s Law of Market.
4. Explain the marginal efficiency of capital.
5. Analyse the effects of multiplier.
6. Discuss Keynes’ money-wage rigidity model.
7. Discuss how the consumption function relates the amount of

consumption to the level of income.

 

PART – C                  

 

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

1. Explain the nature and scope of macro economics.
2. Discuss the different methods of measuring national income.
3. Analyse the liquidity preference theory of interest.

Explain IS-LM model.

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