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MEC-102 Solved Assignment English Medium 2023-24 for July 2023 and January 2024 Session
Tutor Marked Assignment (TMA)
Course Code: MEC-102
Assignment Code: MEC-002/2023-24
Total Marks: 100
Note: Answer all the questions.
Answer the following questions in about 700 words each. The word limits do not apply in case of numerical questions. Each question carries 20 marks.
- Discuss how an economy achieves equilibrium in the IS-LM model. What do the points outside the IS curve signify? Highlight the factors that influence the IS and the LM curves.
- Discuss the important features of new-classical macroeconomics. What are the major policy issues highlighted by new-classical economics?
Answer the following questions in about 400 words each. Each question carries 12marks.
- Specify a loss function and interpret it. What is meant by dynamic inconsistency?
- Differentiate between adaptive expectations and rational expectations. Explain why the shape of the Phillips curve changes when we introduce expectations in our analysis.
- Bring out the factors that lead to rigidity in wages and prices.
- Describe the importance of public debt in an economy. Under what conditions is public debt not sustainable in an economy?
- Write short notes on the following.
- i) Inter-temporal utility maximization
- ii) New-Keynesian macroeconomics
MEC102, MEC 102