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UGC NET JUN 2010 : ECONOMICS PAPER III

14 pages, 44 questions, 1 questions with responses, 1 total responses,

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Signature and Name of Invigilator Roll No. 1. (Signature) __________________________ (Name) ____________________________ 2. (Signature) __________________________ (Name) ____________________________ J 01 PAPER-III ECONOMICS Number of Pages in this Booklet : 24 Instructions for the Candidates 1. Write your roll number in the space provided on the top of this page. 2. Answer to short answer/essay type questions are to be given in the space provided below each question or after the questions in the Test Booklet itself. No Additional Sheets are to be used. 3. At the commencement of examination, the question booklet will be given to you. In the first 5 minutes, you are requested to open the booklet and compulsorily examine it as below : (i) To have access to the Question Booklet, tear off the paper seal on the edge of this cover page. Do not accept a booklet without sticker-seal and do not accept an open booklet. (ii) Tally the number of pages and number of questions in the booklet with the information printed on the cover page. Faulty booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct booklet from the invigilator within the period of 5 minutes. Afterwards, neither the Question Booklet will be replaced nor any extra time will be given. 4. Read instructions given inside carefully. 5. One page is attached for Rough Work at the end of the booklet before the Evaluation Sheet. 6. If you write your name or put any mark on any part of the Answer Sheet, except for the space allotted for the relevant entries, which may disclose your identity, you will render yourself liable to disqualification. 7. You have to return the test booklet to the invigilators at the end of the examination compulsorily and must not carry it with you outside the Examination Hall. 8. Use only Blue/Black Ball point pen. 9. Use of any calculator or log table etc., is prohibited. J-0110 Roll N o.____________________________ (In words) Test Booklet No. 10 Time : 2 1/2 hours] (In figures as per admission card) [Maximum Marks : 200 Number of Questions in this Booklet : 26 1. 2. , 3. , - - : (i) - - (ii) - / - - 4. 5. - (Rough Work) 6. - , 7. - 8. / 9. ( ) P.T.O. ECONOMICS PAPER III III Note : This paper is of two hundred (200) marks, containing four (4) sections. Candidates are required to attempt the questions contained in the section. : (200) (4) J-0110 2 SECTION I I Note : This section consists of two essay type of questions of twenty (20) marks each, to be answered in about five hundred (500) words each. (2 20 = 40 marks) : - (500) (2 20 = 40 ) 1. What are the causes of recent global financial crisis ? What has been its impact on growth, employment and money markets in India ? Describe the measures adopted in India to combat it ? ? , ? OR / Describe the major new economic reforms introduced in India since 1991. Also examine their effects on the performance of different sectors of the Indian economy. 1991 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 3 P.T.O. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 2. Differentiate between foreign direct investment and portfolio investment by foreign institutional investors. Discuss the factors that determine foreign direct investment inflows in a developing country, like India. ? OR / Explain the growth and productivity trends in Indian agriculture since 1991. Also suggest measures to improve productivity of agriculture in India. 1991 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 6 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ SECTION II II Note : This section contains three (3) questions. From each of the elective/specialization, the candidate has to choose only one elective/specialization and answer all the three questions from it. Each question carries fifteen (15) marks and is to be answered in about three hundred (300) words. (3 15 = 45 marks) : / (3) / (15) (300) (3 15 = 45 ) Elective I I 3. What is meant by multicollinearity ? How does it affect the OLS estimation process ? Discuss the two methods of detect it and suggest the remedial measures. ? . . . ? J-0110 9 P.T.O. 4. (i) (ii) Explain the effects of applying the single equation estimation method to an equation belonging to a system of simultaneous equations model. Also discuss how the quality of parameter estimators is improved through the application of an alternative method of estimation. Consider the following model, given in deviation form : y1 = b1y2 + u . (i) y2 = c1y1 + c2x1 + c3x2 + v .. (ii) Use data, given in deviation form, below, and apply the two stage least square method to estimate the first equation : y1 : 5 0 3 2 y2 : 1 6 2 1 0 3 x2 : (ii) 3 x1 : (i) 2 2 3 2 1 , : y1 = b1y2 + u . (i) y2 = c1y1 + c2x1 + c3x2 + v .. (ii) , - ( ) : y1 : 5 (i) (ii) 3. 2 3 1 6 2 1 0 3 x2 : (ii) 2 x1 : (i) 3 y2 : 5. 0 2 3 2 1 What is a dummy variable ? Explain its use in capturing a change in a slope co-efficient in a regression model. Use an illustrative example. What do you understand by unit roots ? Discuss their uses in time series analysis. ? ? - Elective II II What do you understand by decomposition of price effect into substitution effect and income effect ? Show diagrammatically, how it can be applied to compare cash relief with the subsidy involving equivalent cost. ? ? J-0110 10 4. Explain how does Samuelson s accelerator-multiplier interaction generate trade cycle. - ? 5. Explain the Harrod Domar conditions for warranted rate of growth. ( ) - Elective III III 3. Discuss the collapse of Brettonwoods system in 1971. 1971 4. Discuss emergence of world trading system and the main reasons for its distortions. 5. What were the characteristics of globalization in the first phase ? Explain their impact on export sector of the developing countries. ? Elective IV IV 3. What is agricultural price policy ? How is it useful to control the market prices in India ? ? ? 4. How does WTO help sustainable agricultural development in India ? , (WTO) ? 5. Briefly explain the role of agrarian reforms in agricultural development in India. - Elective V V 3. Economic planning in India has failed to achieve its major objectives. Discuss. What changes in strategies would you recommend for making economic planning more effective in a liberalized economic environment in the country ? ? 4. Critically examine the salient features of strategy of poverty alleviation adopted in India, since independence. 5. Describe the main financial sector reforms undertaken by the Government of India since 1991. Examine their impact on the development of the banking sector and capital markets in the country. 1991 J-0110 11 P.T.O. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ SECTION III III Note : This section contains nine (9) questions of ten (10) marks, each to be answered in about fifty (50) words. (9 10 = 90 marks) : - (10-10) (9) (50) (9 10 = 90 ) 6. What are the main points of Baumol s Sales maximization model of the firm ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 17 P.T.O. 7. Why does the IS curve slope down ? - (IS) ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 8. Define and distinguish between inclusive economic growth and the economic development. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 9. State the main recommendations of the Twelfth Finance Commission of India. 12 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 18 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 10. How is monetary approach to Balance of Payments different from traditional approach ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 11. State main contents of Sergeant Florence theory of industrial location. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 12. Explain environment as a public good. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 19 P.T.O. _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 13. What are the problems of agricultural labour in India ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 14. The lines of regression of a bi-variate model are : 8x 10y + 66 = 0 (y on x) 40x 18y = 214 (x on y) The variance of x = 9. Find (a) Mean values of x and y (b) Correlation coefficient between x and y (c) Standard deviation of y : 8x 10y + 66 = 0 (x y) 40x 18y = 214 (y x) x = 9 : (a) x y (b) x y (c) y _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 20 _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ SECTION IV IV Note : This section contains five (5) questions of five (5) marks each based on the following passage. Each question should be answered in about thirty (30) words. (5 5 = 25 marks) : (30) (5 5 = 25 ) Economics is a study of men as they live and move and think in the ordinary business of life. But it concerns itself chiefly with those motives which affect, most powerfully and most steadily, man s conduct in the business part of his life. Everyone who is worth anything carries his higher nature with him into business; and there as elsewhere, he is influenced by his personal affections, by his conceptions of duty and his reverence for high ideals. And it is true that the best energies of the ablest inventors and organizers of improved methods and appliances are stimulated by a noble emulation more than by any love of wealth for its own sake. But, for all that, the steadiest motive to ordinary business work is the desire for the pay which is the material reward of work. The pay may be on its way to be spent selfishly or unselfishly, for noble or base ends ; and here the variety of human nature comes into play. But the motive is supplied by a definite amount of money : and it is this definite and exact money measurement of the steadiest motives in business life, which has enabled economics far to outrun every other branch of the study of man. Just as the chemist s fine balance has made chemistry more exact than most other physical sciences ; so this economist s balance, rough and imperfect as it is, has made economics more exact than any other branch of social science. But of course economics cannot be compared with the exact physical sciences : for it deals with the ever changing and subtle forces of human nature. ; , : , ; , , J-0110 21 P.T.O. : , , , : , ; , , ; , , , , , ; 15. What motives of men s ordinary business of life constitute the subject matter of study in economics ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 16. Do you agree that personal affections, conceptions of duty and reverence for high ideals are stronger stimulants than love of wealth for its own sake in the life of every man ? , , ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ J-0110 22 17. What is the steadiest motive to ordinary business work in the life of human being ? / ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 18. What has made economics more important than other branches of study of men ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ 19. Why economics can not be compared with the exact physical sciences ? ? _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ _______________________________________________________________________________________________ ___________ J-0110 23 P.T.O.

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