Description

MEC-106 Solved Assignment English Medium 2023-24 for July 2023 and January 2024 Session

M.E.C-106

PUBLIC ECONOMICS

MEC-106: PUBLIC ECONOMICS

Tutor Marked Assignment (TMA)

Course Code: MEC-106

Asst. Code: MEC106/TMA/2023-24

Total Marks: 100

Note: Answer all the questions.

SECTION A

Answer the following questions in about 700 words each. Each question carries 20 marks.

1. Define Externalities. Present a brief about types of externalities. Explain how internalisation of negative externalities could be a solution to externalities through the instruments of taxation and property rights. (4+6+10 = 20)
2. a) Explain the scope of mechanism design relating it to implementation theory and game theory.
3. b) Illustrate some applications of ‘mechanism design’ with an identification of their attendant problems. (10 +10 = 20)

SECTION B

Answer the following questions in about 400 words each. Each question carries 12 marks.

3. Explain how by redistribution, a socially more desired welfare level can be attained by considering the Utility Possibility Frontier.
4. Outline how imperfect competition leads to welfare loss stating the policy options open to government to rectify the situation.
5. Describe the Nozick’s ‘entitlement theory’ and the theory of ‘justice in distribution’.
6. Discuss the public debt situation of India. Is there a way to finance the deficit in the government budget? How?
7. Write short notes on the following: (3 X 4 = 12)
8. Multi-part Tarif
9. Public Goods
10. Median Voter Theorem 

MEC106, MEC 106