MEC-106 PUBLIC ECONOMICS in English Solved Assignment 2022-2023

MEC-106 PUBLIC ECONOMICS in English Solved Assignment 2022-2023

Tutor Marked Assignment (TMA)
Course Code: MEC-106
Asst. Code: MEC106/TMA/2022-23
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. Define and elaborate the term ‘Global Public Goods’ (GPG)? How are millennium development
goals are associated with GPG? Explain knowledge as a GPG.
(6+6+ 8 = 20)
2. Discuss the public debt situation of India. How can the deficit in the government budget be
financed? How does the concept of debt sustainability work? (6+7+7 = 20)
SECTION B
Answer the following questions in about 400 words each. Each question carries 12 marks.
3. Explain collective decision making with the help of majority voting and median voter theorem.
(6+6 = 12)
4. Explain the theory of fiscal federalism and discuss the inter-governmental transfers in India.
(6+6 = 12)
5. Define Externalities. Explain how externalities lead to market failure. How does a negative
production externality allocate resources inefficiently? Use appropriate diagram to support your
answer.
(2+5+5 = 12)
6. Define Public Goods. Elaborate the features of a public good. Show the efficient provision of a public
good as per the Lindahl’s equilibrium model.
(2+5+5 = 12)
7. Write short notes on the following: (3 X 4 = 12)
(i) Command and Control method
(ii) Wagner’s Law
(iii)Ramsey Rule of optimal commodity taxation

MEC-106, MEC 106, MEC106