N A L A N D A O P E N U N I V E R S I T Y
M.A. Economics, Part-II
PAPER-IX
(Welfare Economics)
Annual Examination, 2018
Time: 3 Hours Full Marks: 80
Answer any Five Questions. All questions carry equal marks.
1. Discuss critically Bentham's Welfare Maximization Theory.
2. Explain Marshall's concept of Consumer's surplus. Discuss its criticisms.
3. Examine Pareto's Social Optimum and Unanimity Rule.
4. Discuss compensation principle of Scitovsky.
5. Evaluate Bergson-Samuelson Social Welfare Function.
6. Discuss views of different economists about value judgment and welfare Economics.
7. Clearly explain the concept of Private and Public Goods.
8. Discuss Pigou's view on social optimum.
9. Examine Marginal Cost pricing Rule.
10. Write a note on Pareto criterion.