IGNOU MEC 004 SOLVED ASSIGNMENT 2021-22
MEC-004: ECONOMICS OF GROWTH AND DEVELOPMENT SOLVED ASSIGNMENT
2021-22
Course Code:
MEC-004 Asst.
Code: MEC-004 /
AST-1/2021-2022
Total Marks: 100
Answer all the questions. Each
question in Section A carried 20 marks while that in Section B carries 12
marks.
Section A
1)Discuss the main sources of economic growth. Discuss the
main adverse repercussions on the economy that the process of economic growth
can have
2)What do you understand by technical progress? What is the
relationship between technical progress and growth of total factor
productivity? Discuss the various conceptions of neutral technical progress as
put forward by Hicks, Harrod and Solow.
Section B
3). 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.
4) What are the main
propositions of the Real Business Cycle model? Describe the basic structure of
a prototype Real Business Cycle model.
5) Compare and
contrast Adam Smith’s theory of development with that of Ricardo’s.
6) Discuss the
Harris-Todaro model of migration. What has been the impact of this model? What
is its relevance for developing nations?
7) Explain the meaning of cost-benefit analysis. Describe briefly the usual steps taken in a typical costbenefit exercise
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