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.

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.

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.

4. 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



5. 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.

6. 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

7. Explain how does Samuelson's accelerator-multiplier interaction generate trade cycle.

8. Explain the Harrod Domar conditions for warranted rate of growth.

9. Discuss the collapse of Brettonwoods system in 1971.

10. Discuss emergence of world trading system and the main reasons for its distortions.

11. What were the characteristics of globalization in the first phase Explain their impact
on export sector of the developing countries.

12. What is agricultural price policy How is it useful to control the market prices in
India

13. How does WTO help sustainable agricultural development in India

14. Briefly explain the role of agrarian reforms in agricultural development in India.

15. '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

16. Critically examine the salient features of strategy of poverty alleviation adopted in
India, since independence.

17. 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.

18. What are the main points of Baumol's Sales maximization model of the firm

19. Why does the IS curve slope down

20. Define and distinguish between inclusive economic growth and the economic
development.

21. State the main recommendations of the Twelfth Finance Commission of India.

22. How is monetary approach to Balance of Payments different from traditional
approach

23. State main contents of Sergeant Florence theory of industrial location.

24. Explain environment as a public good.

25. What are the problems of agricultural labour in India

26. The lines of regression of a bi-variate model are
8x 10y 66 0 on
40x 18y 214 on
The variance of x 9. Find
Mean values of x and y
Correlation coefficient between x and y
Standard deviation of y

27. 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.

1)What motives of men's ordinary business of life constitute the subject matter of study
in economics

2)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

3)What is the steadiest motive to ordinary business work in the life of human being

4)What has made economics more important than other branches of study of men

Why economics can not be compared with the exact physical sciences