M.A. DEGREE EXAMINATION, APRIL 2017
Second Semester
Economics
MICRO ECONOMICS — II
(2016 onwards)
Time 3 Hours Maximum 75 Marks
Part A (10 x 2 20)
Answer all questions.
All questions carry equal marks.
1. What is Factor Pricing?
2. Name any two theories of Market Distribution.
3. What is Contract Curve?
4. What is meant by Equilibrium?
5. What do you mean by Risk Aversion?
6. What is meant by Sensitivity Analysis?
7. What is Economics of Information?
8. Define Externality.
9. What is Compensation Principle?
10. Define the term efficiency.
Sub. Code
455201
RW-119
2
Wk6
Part B x 5 25)
Answer all questions, choosing either or
All questions carry equal marks.
11. Explain Marginal Productivity Theory.
Or
Expose the concept of Elasticity of Technical
Substitution.
12. Explain Rybezynski Theory.
Or
Examine Stopler-Samuelson Theory.
13. Elucidate Economics of Insurance.
Or
Examine Optimal Consumption under Certainty.
14. Expose Efficient Market Hypothesis.
Or
Explain the model of Inventory Demand.
15. Examine Arrow's Impossibility Theorem.
Or
Explain the concept of Social Welfare.
RW-119
3
Wk6
Part C 10 30)
Answer any three questions.
All questions carry equal marks.
16. Critically examine the Product Exhaustion Theory.
17. Explain General Equilibrium in two Independent
markets.
18. Elucidate the concept of Moral Hazard with an example.
19. Elaborate Market with Incomplete Information with an
example.
20. Elucidate Sen's Welfare Economics.
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