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MEC-006

MASTER OF ARTS (Economics)

Term-End Examination

June, 2010

MEC-006 : PUBLIC ECONOMICS

Time : 3 hours Maximum Marks : 100

Note : Attempt questions from each section as directed.

SECTION-A

Attempt any two questions from this section. 2x20=40(Answer in about 500 words each) :

Define Public Economics. Which kind of publicintervention is not still considered a part of publiceconomics and why ?

Explain the basic characteristics of "the problemof coordination" in policy process. Discussintersectoral, intersubsystem and internationalpolicy networking.

Explain how public choice is derived throughdifferent voting models ? Explain how medianvoter preference is identified in Bowen model ?

What is public debt and its main sources ? Discussthe impact of public debt on consumption andproduction.

MEC-006

1 P.T.O.

SECTION-BAttempt any five questions from this section. 5x12=60(Answer in about 300 words each) :

Define social welfare function. Compare Bentham's,Samuelson's and Rawls' formulations.

Give rationale for and against uniform rate versusmultiple rate tax structure.

Critically analyse Normative theories of state.

Differentiate between fiscal federalism andpolitical federalism.

9. Explain any two of the following :Primary goodsProgressive rate of taxation

(c) Two part tariff

10. How does transfer of grants correct verticalimbalances as well as horizontal imbalances in afederal country and achieve fiscal equalisation ?

Explain the idea behind the pure theory of publicexpenditure and discuss one of the pricing modelsof public goods.

Explain the methods of debt repayment.

MEC-006 2

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MEC-006

3 P.T.O.

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MEC-006 4