Answer any two questions from this section.

1. Describe the structure of the Solow model of economic growth. Discuss the concept of convergence and state what the Solow model has to say about convergence.

2. Compare Ricardo's theory of economic development with that of Adam Smith.

3. What do you understand by dual economy models? Compare Lewis's model of economic development with structural models of development.

4. Discuss the concept of technical change and bring out its relationship with economic growth. Explain Hicks -neutral and Harrod -neutral technical change.

Answer any five questions from this section.

5. Explain the concept of sustainable development. Bring out the difference between economic growth and sustainable development.

6. Explain the concept of coordination failure. Why do non-market institutions and norms play a large role in rural economies of developing nations

7. Discuss the population problem in developing nations. What should be the major components of population policy

8. What do you understand by effective rate of protection? Should developing economies pursue a protectionist policy

9. How does the Harrod -Domar model explain the occurrence of trade cycles

10. How would you measure total factor productivity using growth accounting method

11. Bring out the role of balanced growth strategy in the development of a developing country. Explain Social Marginal Productivity investment criteria for developing countries.

12. Bring out the relationship between economic inequality and poverty. Explain how Lorenz curve measures inequality.