Description
MEC-002: MACROECONOMIC ANALYSIS
Tutor Marked Assignments
(For the Students who have taken admission up to July 2022 Academic Cycle)
Course Code: MEC-002
Assignment Code: MEC-002/2023-24
Total Marks: 100
Note: Answer all the questions.
Section A
Answer the following questions in about 700 words each. The word limits do not
apply in case of numerical questions. Each question carries 20 marks.
1. What is meant by endogenous growth? What are its implications? Describe in brief a
simple endogenous growth model.
2. Bring out the salient features of permanent income hypothesis. Why is this model
important? What are the implications of the model?
Section B
Answer the following questions in about 400 words each. Each question carries 12marks.
3. Distinguish between adaptive expectations and rational expectations. What is the impact
of adaptive expectations on the Phillips Curve?
4. Critically examine the efficiency wage model.
5. Explain why fixed exchange rate is not effective in an open economy.
6. Explain how an economy attains equilibrium in the IS-Lm model.
7. Write short notes on the following.
i) Lucas Critique
ii) Real business cycle theory
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