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UGC NET DEC 2007 : ECONOMICS PAPER III

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Signature and Name of Invigilator Roll No. (In figures as per admission card) 1. (Signature) (Name) Roll No. 2. (Signature) (Name) Test Booklet No. D 0 1 0 7 Time : 2 hours] (In words) PAPER III ECONOMICS Number of Pages in this Booklet : 40 [Maximum Marks : 200 Number of Questions in this Booklet : 26 Instructions for the Candidates U U 1. Write your roll number in the space provided on the top of this page. 1. U DU U S U U U U U 2. U U U, U S U U 2. Answers 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. U U No Additional Sheets are to be used. 3. U U U, - S U U U - S U U 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) - S U U U U U U U S U U- U S S U U (i) To have access to the Test 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) U DU U U U - S DU U U U U U U S DU / U U U U U S S U U U U U S U U - S U U - S U UQ (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. U U 4. Read instructions given inside carefully. 5. One page is attached for Rough Work at the end of the booklet before the Evaluation Sheet. 5. U U- S (Rough Work) U U DU 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. 6. U- S U , U U U U 7. U # U U- S U U U U U # U U U U 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. / U Z U S U 8. Use only Blue/Black Ball point pen. 9. Use of any calculator or log table etc. is prohibited. 9. U ( U U) U U 10. There is NO negative marking. 10. U U D 0107 1 P.T.O. ECONOMICS ( S ) 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 these sections according to the detailed instructions given therein. (200) (4) S D 0107 2 SECTION - I U I Note : Answer the five questions from the para given below. Each answer should not exceed 30 words. Each question carries five marks. (5x5=25 marks) U U (30) (5x5=25 ) Although Malthus was by no means the first writer to speculate on demographic problems, he was the first to succeed in devising a theory of population growth. Ever since, his views have been the point of departure in every discussion of population problems. In his own day however, the theory attracted attention, not so much as a scientific contribution to the study of demography, but as a refutation of the optimism of Godwin, Condercet and Owen regarding the perfectibility of human society by means of social legislation. More important for our purposes, Malthus theory had definite analytical consequences that made it an integral part of classical economics long after the vision that prompted Malthus had receded to the background. By emphasizing the rigid dependence of population growth upon the food supply, the Malthusian theory lent support to the subsistence theory of wages and prepared the way for the Ricardian preoccupation with the land-using bias of economic progress; by explaining poverty in terms of a simple race between population and the means of subsistence, it provided the touchstone for all classical thinking about economic policy. Any one of these features would have been enough to make its influence significant. Putting them all together, they fully account for Malthus astonishing success which, indeed, has few parallels in the history of social science. l , U , S U , h h - , U S U U , , h D 0107 3 P.T.O. , M , U m U U , U U U U M U g , , h U , U S U , h l U U U $ U U, U h , U , U U S U S U U ; U U S c U , U U U U , , , S c U , , , U 1. Why did Malthus theory attract attention ? h ? D 0107 4 2. Why did Malthus theory of population become an integral part of classical economics ? h S ? 3. How did Malthus s theory lend support to the subsistence theory of wages ? h U U h ? D 0107 5 P.T.O. 4. How did Malthus theory influence the classical thinking about economic policy ? h U U ? 5. In what important respects did Malthus s theory influence Ricardo ? h U U ? D 0107 6 SECTION - II U II Note : This part has fifteen (15) definitional questions of (5) marks each to be answered in upto (30) words. (5x15=75 marks) (15) (5) (30) (5x15=75 ) 6. Define revealed preference axiom. U U U D 0107 7 P.T.O. 7. What is elasticity of substitution of factors ? S ? 8. What is consumption ratchet ? U U ? D 0107 8 9. What is asset demand for money ? U U U ? 10. What is Harrod-neutral technical progress ? U U - ( U ) US ? D 0107 9 P.T.O. 11. Define organic composition of capital and its relation to rate of profit. (organic composition of capital) U U U 12. Distinguish between incidence and shifting of a tax. U U U U S U S c U U D 0107 10 13. What does current account deficit mean ? U ? 14. Distinguish between Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR). S U U U U U U U (SLR) U U$ (CRR) U S c U U D 0107 11 P.T.O. 15. What are the main features of the Industrial Licensing Policy of 1991 ? 1991 l 16. Distinguish between stable and stationary population. S U U S (S U U S U U ) U D 0107 12 17. Define Sen s-P measure of poverty. P- S c U U 18. What are the measures of regional disparities in agriculture ? U ? D 0107 13 P.T.O. 19. Distinguish between Open Model and Closed Models of Leontief Input-output analysis. When do you say the system is viable in an Open Model ? U U- U U U U S U U U S c U U U S ? 20. A firm has the following total cost and demand functions C(x)52012x13x2 and p5502x. If an excise tax of Rs. t per unit is imposed, find the tax rate that would fetch maximum tax revenue to the Government ? U C(x)52012x13x2 U p5502x L t , U U U U U D 0107 14 SECTION - III U III Note : This part has five short-essay type questions of (12) marks each to be answered in upto (200) words. The candidate may select one elective and answer all five (5) questions. (12x5=60 marks) (5) (12) (12x5=60 ) Elective - I U I 21. Consider the following Regression Models. 1. (CM)i 5263.641620.0056 (PGNP) i2 2.2316(FLR)i se5 (11.5932) (0.0019) (0.2099) R2 5 0.7077 2. (CM)i 5168.306720.0055 (PGNP)i21.7680(FLR) i 112.8686(TFR)i se 5 (32.8916) (0.0018) (0.2480) ? R2 5 0.7474 (a) How would you interpret the coefficient of TFR ? A Priori, would you expect a positive or negative relationship between CM and TFR ? Justify your answer. (b) Have the coefficients values of PGNP and FLR changed between the two equations ? If so what may be the reasons for such a change ? (c) How would you choose between Models 1 and 2 ? Which statistical test would you use. Show the necessary calculations. Can you find the s.e. of the coefficient of TFR. CM: PGNP : Per Capita GNP TFR : D 0107 Child Mortality Total Fertility Rate FLR : Female Literacy Rate 15 P.T.O. U U U 1. (CM)i 5263.641620.0056 (PGNP) i22.2316(FLR)i se5 (11.5932) 25 0.7077 R 2. (0.0019) (0.2099) (CM)i 5168.306720.0055 (PGNP)i21.7680(FLR)i 112.8686(TFR)i se 5 (32.8916) 2 R 5 0.7474 (0.0018) (0.2480) ? (a) TFR U ? , CM U TFR U U ? U c U U U (b) PGNP U FLR U ? U U ? (c) U 1 U 2 U ? U U ? U TFR s.e. U ? CM: PGNP : GNP TFR : 22. U U FLR : U U Explain the nature of Heteroscedasticity. What are its consequences. Explain Gold Feld-Quarndt test for detecting heteroscedasticity. U U U S U U ( ) S c U U U ? U U U S U U U U-` U U 23. What is structural instability in a Regression Model ? How do you test it by using DUMMY VARIABLES ? U U S U ? U U m U U U 24. Discuss the situation of Multicollinearity in Regression Models and its consequences. What are the Remedial measures. U U S U U U U ? 25. Discuss the terms SPURIOUS REGRESSION and COINTEGRATION . Hence define Dickey-Fullar test. S U U U U U U - U US U U U OR / D 0107 16 Elective - II II 21. Explain the three forms of price leadership. M S c U U 22. How do you convert a two-person-zero-sum game into a linear programming problem ? Illustrate with example. - - - U S ? U m U U 23. Explain the model of the interaction of the accelerator and multipler constructed by Paul Samuelson. m U U U U S c U U 24. Explain how stability of equilibrium is attained in neo classical growth model. - U S U U # , 25. Explain the role of aggregate demand in the determination of income in the Keynesian system. U S c U U OR / Elective - III III 21. Examine the operation of the present managed floating exchange rate system. What are the problems with present exchange rate arrangements ? S U U U U U S S 22. Briefly outline the evolution of the present international trading system. U c U U M U D 0107 17 P.T.O. 23. What are foreign exchange markets ? What are its various forms ? What are the different levels of participation in foreign exchange markets ? U ? M ? U S U ? 24. Explain the difference between eurocurrencies and eurobonds. U - U U U U U S c U U 25. What caused the international debt problem of the developing nations in the 1980s ? Why did it threaten the stability of international banking system ? 1980 U c U S ? U c U S S U ? OR / Elective - IV IV 21. Comment on the factors holding back the development of Indian agriculture in the post-reforms era. U- U U U U U U U 22. How the entry of retail-chains would affect the price-spread between the farmer and the urban consumer ? U U - U U U S U U ? 23. Describe the salient features of rural-urban migration in India and, in brief, spell out its impact on rural labour markets. U - U U U, , U U D 0107 18 24. Evaluate the role of NABARD in monitoring the flow of credit to the agricultural sector in India. U U U U NABARD U 25. State the Market access provisions under WTO agreement. How would these affect the Indian agriculturists ? U U U U U U U ? OR / Elective - V V 21. Describe the change in the role of Planning in India in the wake of economic policy shift since 1991. U , 1991 S U U S M , U U 22. Comment on the performance of the organized industrial sector in India in the past two and a half decades, particularly with respect to employment generation. U , U U l c U U U, M U U 23. Outline the trends in social sector spending in India. How far it is right to say that Government is abdicating its social responsibility in the new policy regime ? U M U U U U U U ? 24. Is there a virtuous circle linking infrastructure development and growth ? Substantiate your answer. U U h h ? U U 25. Enlist the components of GEM. How does it vary with the movement of HDI ? GEM U U U HDI D 0107 19 P.T.O. SECTION - IV IV Note : This part has one question of (40) marks to be answered in upto 1000 words. (40x1=40 marks) (40) (1000) (40x1=40 ) 26. Outline the various dimensions of the growing environmental concerns. How far the existing paradigm of development is responsible for the environmental crisis, if any ? What steps should be taken to salvage the situation ? (10, 20, 10) U M U U U , l c U U ? S U (10, 20, 10) OR / Comment on the empirical relation between the movement of real per capita income and income inequality. How far the inverted-U shaped curve hypothesis stands supported ? In this context, how would you explain the Augmented Kuznets curve ? (15, 15, 10) S U U U U U U / U U - U U U , - U U U $ U S c U U ? (15, 15, 10) D 0107 30

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Additional Info : Ugc Net December 2007 Question Paper - Economics Paper III
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