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MEC-2 Solved Assignment English Medium 2023-24 for July 2023 and January 2024 Session
M.E.C-2
MACROECONOMIC ANALYSIS
MEC-002: MACROECONOMIC ANALYSIS
Tutor Marked Assignment (TMA)
(For the Students who have taken admission up to July 2022 Academic Cycle)
Course Code: MEC-002
Assignment Code: MEC-002/2023-24
Total Marks: 100
Note: Answer all the questions.
Section A
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.
- What is meant by endogenous growth? What are its implications? Describe in brief a simple endogenous growth model.
- Bring out the salient features of permanent income hypothesis. Why is this model important? What are the implications of the model?
Section B
Answer the following questions in about 400 words each. Each question carries 12marks.
- Distinguish between adaptive expectations and rational expectations. What is the impact of adaptive expectations on the Phillips Curve?
- Critically examine the efficiency wage model.
- Explain why fixed exchange rate is not effective in an open economy.
- Explain how an economy attains equilibrium in the IS-Lm model.
- Write short notes on the following.
- i) Lucas Critique
- ii) Real business cycle theory
MEC2, MEC 2
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