MEC-002 Solved Assignment English Medium 2021-22

Free MEC2 Solved Assignment English Medium 2021-22 for July 2021 and January 2022 Session

M.E.C-002

MACROECONOMIC ANALYSIS

Note: Answer all the questions. While questions in Section A carry 20 marks each (to be answered in about 500 words each) those in Section B carry 12 marks each (to be answered in about 300 words each). In the case of numerical questions word limits do not apply.

Section A

1. What is meant by steady state in the Solow model? Explain how Golden Rule is different from steady state.

2. Explain how the permanent income hypothesis reconciles the difference between short-run and long-run consumption behavior.

Section B

3. Policy makers should stick to rules instead of pursuing discretionary polices. Do you agree with the above statement? Substantiate your answer.

4. Explain in brief the salient features of real business cycle theory. In what respects is it different from other theories of business cycle?

5. Explain why firms may offer a higher wage to workers than the equilibrium wage rate.

6. Bring out the important issues on which Lucas criticizes Keynesian macroeconomics. To what extent the New-Keynesian economists have accepted these criticisms?

7. Write short notes on the following

 i) Rational expectations and adaptive expectations

 ii) Non-accelerating Inflation Rate of Unemployment 

Submission

For July 2021 session, you need to submit the assignments by March 31, 2022, and for January 2022 session by September 30, 2022 for being eligible to appear in the term- end examination. Assignments should be submitted to the Coordinator of your Study Centre. Obtain a receipt from the Study Centre towards submission.

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