Description

MEC 106 MAEC Ignou Solved Assignment 2024

Course : MA Economics
Session 2024
Submission date : 1. By 31st October 2023, for the students willing to appear in December 2023 term end examination. 2. By 30thApril 2024, for the students willing to appear in June 2024 term end examination.

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1. Define Externalities. Present a brief about types of externalities. Explain how internalisation of
negative externalities could be a solution to externalities through the instruments of taxation and
property rights. (4+6+10 = 20)
2. a) Explain the scope of mechanism design relating it to implementation theory and game theory.
b) Illustrate some applications of ‘mechanism design’ with an identification of their attendant
problems. (10 +10 = 20)

MEC 106 MAEC Ignou Solved Assignment 2024

SECTION B
Answer the following questions in about 400 words each. Each question carries 12 marks.
3. Explain how by redistribution, a socially more desired welfare level can be attained by considering
the Utility Possibility Frontier.
4. Outline how imperfect competition leads to welfare loss stating the policy options open to
government to rectify the situation.
5. Describe the Nozick’s ‘entitlement theory’ and the theory of ‘justice in distribution’.

MEC 106 MAEC Ignou Solved Assignment 2024

6. Discuss the public debt situation of India. Is there a way to finance the deficit in the government
budget? How?
7. Write short notes on the following: (3 X 4 = 12)
a. Multi-part Tarif
b. Public Goods
c. Median Voter Theorem