Subjective / Written Questions (25)
1. Critically compare national-income accounting in closed and open economies and explain why environmental accounting changes interpretation of conventional national income.
2. Explain the Keynesian critique of Say’s Law and derive the role of effective demand in employment determination.
3. Analyse the consumption function and investment multiplier, including the role of marginal propensity to consume.
4. Compare classical and Keynesian approaches to employment and explain the significance of involuntary unemployment.
5. Explain the causes and phases of trade cycles and compare Hayek, Schumpeter and Hawtrey.
6. Discuss inflation, its causes and distributional effects, and distinguish demand-pull from cost-push mechanisms.
7. Analyse the Phillips curve as a representation of inflation-unemployment trade-offs and discuss its policy limitations.
8. Compare Ricardo, Marx and Kaldor on macro distribution and explain why distributional theories differ from factor-demand models.
9. Explain Harrod-Domar growth and the role of saving and the capital-output ratio in determining growth requirements.
10. Discuss Leibenstein’s critical minimum effort thesis and the low-level equilibrium trap.
11. Explain the demographic transition theory and the Harris-Todaro model of migration.
12. Evaluate the usefulness and limitations of national-income aggregates as indicators of economic welfare.
13. Compare economic growth with economic development and explain why multidimensional indicators are used.
14. Critically compare PQLI, HDI, GDI and GII as development indicators and discuss their informational limits.
15. Explain circular causation in Myrdal and Nurkse and how poverty can reinforce itself.
16. Analyse Rostow’s stages of growth and critically assess the limits of stage-based development theories.
17. Compare balanced and unbalanced growth strategies and explain Hirschman’s argument for strategic disequilibria.
18. Explain the Rosenstein-Rodan big-push idea and the two-gap approach to development constraints.
19. Discuss capital formation, savings mobilisation and technological improvement as drivers of development.
20. Explain Lewis’s surplus-labour model and Nurkse’s views on capital formation, noting their assumptions.
21. Define sustainable development and discuss its historical evolution as a development objective.
22. Analyse the state-versus-market debate in development and explain why mixed economies use both mechanisms.
23. Evaluate the objectives and strategies of planning in a mixed economy and the role of the social sector.
24. Discuss gender disparities, health and education as components of the social dimensions of development.
25. Critically evaluate technological backwardness and environmental constraints as barriers to development.