Description

MEC-4 Solved Assignment English Medium 2023-24 for July 2023 and January 2024 Session

M.E.C-4

ECONOMICS OF GROWTH AND DEVELOPMENT

Tutor Marked Assignment (TMA)

(For the Students who have taken admission up to January 2023 Academic Cycle)

Course Code: MEC-004

Asst. Code: MEC-004 / AST/2023-2024

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.

1) Examine the effect of population growth in the Solow model of economic growth. Discuss how the Solow model could be used to explain poverty traps in developing nations.

2) Describe the Mankiw-Romer-Weil extension to the neoclassical model to include human capital. Explain why diminishing returns to capital do not take place in the AK model.

SECTION B

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

3) Distinguish between economic growth and development. Briefly mention the main benefits that economic growth confers upon society.

 4) Describe Pasinetti’s theory of economic growth and distribution.

 5) Describe the various approaches to the measurement of total factor productivity.

 6) What are the main propositions of the Real Business Cycle model? Describe the basic structure of a prototype Real Business Cycle model.

 7) Compare and contrast the Uzawa two-sector growth model with the Feldman model. 

MEC4, MEC 4