Answer any two questions from this section in about 500 words each.

1. What is the need for government regulation in the environmental context Describe the policy instruments for government regulation.

2. Briefly highlight the importance of valuation of environment. What are the various functions of the environment that should be taken into account to estimate its total economic value?

3. Briefly outline the importance of environmental accounting. What adjustments would you carry out in Gross Domestic Product to obtain Environmentally Adjusted National Domestic Product

4. Critically examine the decision-making process of seeking education using cost-benefit analysis.

SECTION B

Answer any five questions from this section in about 250 words each.

5. Critically examine the role of private sector in provision of health services. What sort of intervention by the government is needed in this context?

6. Briefly outline the market-based instruments available to the government for abatement of pollution.

7. Provide a brief review of environmental policy of India in the context of air pollution.

8. Briefly review the major debates surrounding poverty line in India.

9. Explain how a Pigouvian tax can be imposed to internalise externalities.

10. Explain the important features of bionomic model as applied to the problem of fishery.

11. Bring out the major concerns of institutional economics.

12. Write short notes on the following:

Contingent Valuation Method

Barker's In-Utero Hypothesis