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M.E.C – 106
PUBLIC
ECONOMICS MEC 106 Solved Assignment 2022-23
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Assignment I
Answer the following
questions in about 700 words each.
1. Define and elaborate the term ‘Global
Public Goods’ (GPG)? How are millennium development goals are associated with
GPG? Explain knowledge as a GPG.
2. Discuss the public debt situation of
India. How can the deficit in the government budget be financed? How does the
concept of debt sustainability work?
Assignment - II
Answer the following
questions in about 400 words each.
3. Explain collective decision making
with the help of majority voting and median voter theorem.
4. Explain the theory of fiscal
federalism and discuss the inter-governmental transfers in India.
5. Define Externalities. Explain how
externalities lead to market failure. How does a negative production
externality allocate resources inefficiently? Use appropriate diagram to
support your answer.
6. Define Public Goods. Elaborate the
features of a public good. Show the efficient provision of a public good as per
the Lindahl’s equilibrium model.
7. Write short notes on the following:
(i) Command and Control method
(ii) Wagner’s Law
(iii) Ramsey Rule of optimal commodity
taxation
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