Description
MEC-104: ECONOMICS OF GROWTH AND DEVELOPMENT
Tutor Marked Assignment (TMA)
Course Code: MEC-104
Asst. Code: MEC-104 / AST/2024
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) 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) Explain why diminishing returns to capital do not take place in the AK model. Discuss the Lucas
model of endogenous growth, bringing out the role of human capital
SECTION B
Answer the following questions in about 400 words each. Each question carries 12
marks.
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) Discuss the impact of income inequality on economic growth
7) Discuss how geographical factors impact economic development
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