Ph.D. Course Work Examination June July 2017
ECONOMICS (Paper II)
Advanced Theories in Economics
Day Date: Wednesday, 28-06-2017 Max. Marks: 100
Time: 11.00 AM to 02.00 PM
Instructions: All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Explain how Revealed Preference Theory is an improvement over
Hicksian utility analysis?
10
Write short notes on any two of the following: 10
Euler's theorem
Kinked demand curve
Bain's limit pricing theory
Q.2 How relative effectiveness of monetary and fiscal policies are
expressed in IS-LM model?
10
Write short notes on any two of the following: 10
Elasticity of demand
Cobb-Douglas production function
Collusive and non-collusive oligopoly
Q.3 What is Hall and Hitch report? 10
Write short notes on any two of the following: 10
Managerial discretion model of Williamson
Baumol's theory of contestable markets
Keynesian views on interest
Q.4 Explain Hicksian revised theory of demand. 10
Write short notes on any two of the following: 10
Workable competition
Product differentiation
Importance of factors of production
Q.5 Examine the views of Edgeworth on oligopoly. 10
Write short notes on any two of the following: 10
Neo-classical theory of interest.
Full cost pricing rule.
Static and dynamic models of the firm