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    Mec 2

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    The document is a past examination paper for a Macroeconomic Analysis course. It contains 12 short-answer questions divided into two sections - Section A contains 4 questions and students must answer any 2, Section B contains 8 questions and students must answer any 5. The questions cover various macroeconomic concepts such as the steady state in growth models, criticisms of Keynesian economics, consumption theories, types of unemployment, IS curves, factors of wage rigidity, effectiveness of fiscal policy under flexible exchange rates, real business cycles, Ramsey model, Phillips curve and its vertical long run shape.

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    Mec 2

    Uploaded by

    k d
    9 views4 pages
    The document is a past examination paper for a Macroeconomic Analysis course. It contains 12 short-answer questions divided into two sections - Section A contains 4 questions and students must answer any 2, Section B contains 8 questions and students must answer any 5. The questions cover various macroeconomic concepts such as the steady state in growth models, criticisms of Keynesian economics, consumption theories, types of unemployment, IS curves, factors of wage rigidity, effectiveness of fiscal policy under flexible exchange rates, real business cycles, Ramsey model, Phillips curve and its vertical long run shape.

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    MEC-2

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    The document is a past examination paper for a Macroeconomic Analysis course. It contains 12 short-answer questions divided into two sections - Section A contains 4 questions and students must answer any 2, Section B contains 8 questions and students must answer any 5. The questions cover various macroeconomic concepts such as the steady state in growth models, criticisms of Keynesian economics, consumption theories, types of unemployment, IS curves, factors of wage rigidity, effectiveness of fiscal policy under flexible exchange rates, real business cycles, Ramsey model, Phillips curve and its vertical long run shape.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    9 views4 pages

    Mec 2

    Uploaded by

    k d
    The document is a past examination paper for a Macroeconomic Analysis course. It contains 12 short-answer questions divided into two sections - Section A contains 4 questions and students must answer any 2, Section B contains 8 questions and students must answer any 5. The questions cover various macroeconomic concepts such as the steady state in growth models, criticisms of Keynesian economics, consumption theories, types of unemployment, IS curves, factors of wage rigidity, effectiveness of fiscal policy under flexible exchange rates, real business cycles, Ramsey model, Phillips curve and its vertical long run shape.

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    © All Rights Reserved
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    of 4

    No.

    of Printed Pages : 4 MEC-002

    MASTER OF ARTS (ECONOMICS)


    Term-End Examination
    June, 2021

    MEC-002 : MACROECONOMIC ANALYSIS

    Time : 3 hours Maximum Marks : 100

    Note : Answer the questions from each section as directed.

    SECTION A

    Answer any two questions from this section. 220=40

    1. What is meant by steady state in the neoclassical


    growth model ? Explain how steady state is
    maintained when population growth and
    technological progress are taking place.

    2. Explain in brief the issues on which Lucas


    criticised the Keynesian model.

    3. Briefly discuss the life cycle hypothesis and


    permanent income hypothesis of consumption.

    4. Distinguish between cyclical and structural types


    of unemployment. Briefly discuss the relevance of
    natural rate of unemployment.

    MEC-002 1 P.T.O.
    SECTION B

    Answer any five questions from this section. 512=60

    5. Explain the political business cycle theory of


    Kalecki.

    6. What is an IS curve ? Explain how its shape and


    position is determined.

    7. Discuss the factors that lead to wage rigidity in


    an economy.

    8. Explain why fiscal policy may not be effective in


    an economy with flexible exchange rate.

    9. Bring out the salient features of real business


    cycle.

    10. Briefly discuss the salient features of the Ramsey


    model (Planner’s problem).

    11. Explain the concept of Phillips curve. Why is it


    vertical in the long run ?

    12. Write short notes on any two of the following :


    (a) Demand for Money
    (b) Liquidity Trap
    (c) Menu Cost

    MEC-002 2
    E_.B©.gr.-002

    E_.E. (AW©emñÌ)
    gÌm§V narjm
    OyZ, 2021

    E_.B©.gr.-002 : g_pîQ>JV Am{W©H$ {díbofU


    g_` : 3 KÊQ>o A{YH$V_ A§H$ : 100

    ZmoQ> : àË`oH$ ^mJ go {ZX}emZwgma àíZm| Ho$ CÎma Xr{OE &

    ^mJ H$
    Bg ^mJ go {H$Ýht Xmo àíZm| Ho$ CÎma Xr{OE & 220=40

    1. Zd-Šbm{gH$b J«moW _m°S>b _| pñWa AdñWm (steady


    state) H$m Š`m AW© h¡ ? O~ OZg§»`m g§d{¥ Õ Ed§
    àm¡Úmo{JH$s` àJ{V hmo aho hm|, Vmo pñWa AdñWm H$mo H¡$go
    ~Zm`m aIm Om gH$Vm h¡ ? g_PmBE &

    2. {OZ _wÔm| na bwH$mg Zo H$sÝgdmXr _m°S>b H$s AmbmoMZm H$s


    CZ _wÔm| H$mo g§jon _| g_PmBE &
    3. Cn^moJ H$s OrdZ MH«$ n[aH$ënZm Ed§ ñWm`r Am`
    n[aH$ënZm H$s g§jon _| MMm© H$s{OE &
    4. ~oamoµOJmar Ho$ MH«$s` Ed§ g§aMZmË_H$ àH$mam| Ho$ ~rM A§Va
    ñnï> H$s{OE & g§jon _| ~oamoµOJmar H$s àmH¥${VH$ (Z¡Mwab)
    Xa H$s àmg§{JH$Vm H$s MMm© H$s{OE &
    MEC-002 3 P.T.O.
    ^mJ I
    Bg ^mJ go {H$Ýht nm±M àíZm| Ho$ CÎma Xr{OE & 512=60

    5. H$boH$s Ho$ amOZr{VH$ ì`dgm` MH«$ Ho$ {gÕm§V H$s ì`m»`m


    H$s{OE &
    6. IS dH«$ Š`m h¡ ? BgH$m AmH$ma Ed§ pñW{V H¡$go {ZYm©[aV
    hmoVr h¡ ? g_PmBE &
    7. {H$gr AW©ì`dñWm _| _µOXÿar H$R>moaVm (rigidity) Ho$
    H$maUm| H$s MMm© H$s{OE &
    8. bMrbr {d{Z_` Xa Ho$ gmW {H$gr AW©ì`dñWm _|
    amOH$mofr` Zr{V à^mdr Zht hmo gH$Vr ? g_PmBE &
    9. dmñV{dH$ ì`mnma MH«$ H$s _w»` {deofVmAm| H$mo ~VmBE &
    10. a¡_go _m°S>b (`moOZmH$ma H$s g_ñ`m) H$s _w»` {deofVmAm|
    H$s g§jon _| MMm© H$s{OE &
    11. {\${bßg dH«$ H$s AdYmaUm H$s ì`m»`m H$s{OE & `h
    XrK©H$mb _| grYm Š`m| hmoVm h¡ ?
    12. {ZåZ{b{IV _| go {H$Ýht Xmo na g§{já {Q>ßn{U`m±
    {b{IE :
    (H$) _wÐm H$s _m±J (Demand for Money)
    (I) VabVm Omb (Liquidity Trap)
    (J) _oZy bmJV (Menu Cost)

    MEC-002 4

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