ECO/V/CC/08 Student's Copy
2 0 1 8
CBCS
5th Semester
ECONOMICS
EIGHTH PAPER
Economics of Development and Planning
Full Marks 75
Time 3 hours
PART A—OBJECTIVE
Marks 25
The figures in the margin indicate full marks for the questions
SECTION—A
Marks 10
Tick the correct answer in the brackets provided 1×10=10
1. The Physical Quality of Life Index (PQLI) was developed by
Morris D. Morris
Amartya Sen
M. P. Todaro
/87 1 Contd.
2. Sustainable development refers to
a sustained increase in a country's national income
a simultaneous development of industries and agriculture
meeting the needs of the present generation without making future
generations worse-off
3. Schumpeter assigns the role of an innovator to the
entrepreneur
capitalist
landlord
4. Decentralized planning is also known as
planning from below
planning from above
planning from microlevel
5. The concept of 'Golden Age' as used by J. Robinson meant
use of gold standard
dualistic economies
smooth and steady growth of the economy with full
employment
6. The coexistence of different rates of interest in the organized and
unorganized money market is known as
financial inclusion
financial market
financial dualism
7. Nurksean dictum of vicious circle excluded
income
low-saving
population pressure
8. Joan Robinson's Golden Age refers to a full employment equilibrium in
which the growth rate of
population and capital is equal
wages and capital is equal
saving and investment is equal
ECO/V/CC/08 2 Contd.
9. Human Development Index uses
educational attainment
sex ratio
infant mortality
10. The First Five-Year Plan was based on which of the following models?
The Mahalanobis model
The Harrod-Domar model
The Open Consistency model
SECTION—B
Marks 15
Write short notes on the following 3×5=15
1. Capital Accumulation
OR
Gini Coefficient
2. Laissez Faire
OR
Surplus Value
3. Poverty Line
OR
Social Dualism
4. Endogenous Model
OR
Heavy Industrialization Policy
5. Decentralized Planning
OR
Shadow Prices
ECO/V/CC/08 3 Contd.
PART B—DESCRIPTIVE
Marks 50
The figures in the margin indicate full marks for the questions
1. What are the important features of underdevelopment? Examine the
importance of sustainable development for attaining economic
development in underdeveloped countries. 7+3=10
OR
Critically explain Kuznet's inverted U hypothesis.
10
2. What is 'innovation' in economics? Explain the role of entrepreneur in
bringing about innovation according to Schumpeter's theory of
economic development. 2+8=10
OR
Explain Rostow's stages of growth theory. What are the limitations of
the theory? 7+3=10
3. What is balanced growth strategy of economic development? Bring out
the case for and against the balanced growth theory. 2+8=10
OR
Discuss the principal features of Big-Push theory. What are its
limitations? 7+3=10
4. Discuss Harrod-Domar model of economic growth. 10
OR
What are the main features of the New Economic Policy, 1991?
5. Discuss the rationale for planning in India. 10
OR
What is meant by cost-benefit analysis? Discuss the criteria for
cost-benefit analysis. 3+7=10