Dibrugarh University Arts Question Papers: ECONOMICS (Major) (History of Economic Thoughts)' November - 2014

[BA 5th Sem Question Papers, Dibrugarh University, 2014, Economics, General, History of Economic Thoughts]

2014 (Nov)
Course: 503
(History of Economic Thoughts)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions

1. Answer the following/Fill in the blank/Choose the correct answer: 1x8=8
  1. Who propounded the idea of Village Sarvodaya?
  2. Who among the following wrote The Normal Labour Day?
  1. Karl Marx.
  2. J. K. Rodbertus.
  3. J. M. Keynes.
  4. Adam Smith.
  1. Why, according to David Ricardo, there is no rent in marginal land?
  2. Leon Walras was the economist of which school of economic thought?
  3. What type of balance was expected by the mercantilists in case of foreign trade?
  4. ____ was the first Indian to calculate national income of India.
  5. If liquidity preference increases keeping the supply of money uncharged, what will happen to the rate of interest?
  6. Investment multiplier is equal to
  1. None of the above
2. Write short notes on any four of the following (within 150 words each): 4x4=16
  1. Naturalism and optimism.
  2. Quasi-rent.
  3. Gyan Chand’s view on financial system of India.
  4. Theory of surplus value.
  5. M. K. Gandhi’s economic idea on industrialization.
  6. Investment multiplier and its effect on income generation.
Answer the following questions (within 500 words each):
3. (a) Explain the Ricardian theory of rent. On what grounds is it criticized by the economists? 8+3=11
(b) “With J. S. Mill classical economics may be said in some way to have attained its perfection and with him begins its decay.” Evaluate this statement. 11
4. (a) Discuss critically the background and economic ideas of State socialism. 5+6=11
(b) Discuss the labour theory of value in connection with the exploitation of labour as explained by Karl Marx. 5+6=11
5. (a) Highlight the factors giving rise to subjectivism. How priority to utility analysis was given among the marginalists? 6+5=11
(b) What is New-classicism? Evaluate the position of Alfred Marshall in the history of economic thought. 2+9=11
6. (a) In what respects Keynesian economics differs from the classical economics? How are consumption, investment and savings related in Keynesian analysis? 8+4=12
(b) Give an account of the contributions of J. M. Keynes to economic thought. 12
7. (a) Who was Kautilya? What book of him was famous for economics? Explain his idea on economic situation of his time. 2+9=11
(b) Explain ‘the drain theory’ propounded by Dadabhai Naoroji. Point out its significance. 8+3=11


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