MEC-106 EM 2025-26 SOLVED ASSIGNMENT

Description

MEC-106: Public Economics

Tutor Marked Assignment

Course Code: MEC-106

Assignment Code: MEC-106/AST/2025-26

MASTER OF ARTS
(ECONOMICS)
ASSIGNMENTS 2025-26
Third Semester Courses
(For July 2025 and January 2026 Sessions)

Maximum Marks: 100

Note: Answer all the questions.

Section-A Answer the following questions in about 700 words each. Each question carries 20 marks.

1. Distinguish between equity and equality? Critically examine the Rawal’s theory and Nosick’s theory of justice in this regard.
2. What do you mean by the term “stabilization”? Explain the role of various instruments of fiscal policy to achieve the objectives of low unemployment and price stability?

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

3. What is market failure? What kinds of state intervention are required to address the problem of externality and imperfect information?
4. How does quantity of public goods and its distribution to the consumers is determined? Explain the Samuelson’s pure theory of public expenditure in this regard.
5. Distinguish between collective decision making and individual decision making? Explain with examples how individual decision making is a case of general equilibrium?
6. What is ‘deficit financing’? Explain how is it met?
7. Write short notes on the following:

(i) Nash Equilibrium

(ii) Finance Commission

(iii)GST

(iv) Incentive regulations