Description
MEC-104: ECONOMICS OF GROWTH AND DEVELOPMENT
Tutor Marked Assignment
Course Code: MEC-104
Asst. Code: MEC-104 / AST-1/2024-25
Total Marks: 100
Note: Answer all the questions.
Section-A
Answer the following questions in about 700 words each. Each question carries 20
marks. 2X20=40
1. Explain how the Solow model differs from the Harrod-Domar model. Which of the two do
you think is more relevant in describing the development process of developing nations?
2. Why does diminishing returns to capital not take place in the AK growth model? Analyse
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 12marks.
5X12=60
3. Distinguish between economic growth and development. Briefly mention the main
benefits that economic growth confers upon society.
4. Describe the characteristic features of labour markets in developing countries.
5. What are the various approaches to the measurement of total factor productivity? Explain.
6. Discuss the relationship between income inequality and economic growth.
7. What impact do geographical factors have on economic development
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