Madurai Kamraj University (MKU) 2006 M.Phil QUANTITATIVE TECHNIQUES AND TOPICS IN MODERN ECONOMICS - Question Paper

This is the ques. paper For M.Phil Economics in madurai kamaraj University and the Paper Name is
"M.Phil Economics QUANTITATIVE TECHNIQUES AND TOPICS IN MODERN ECONOMICS"

7923/E 12    OCTOBER 2006

Paper II QUANTITATIVE TECHNIQUES AND TOPICS IN MODERN ECONOMICS

Time : Three hours    Maximum : 100 marks

Answer any FIVE questions.

All questions carry equal marks.

1. Draw the graph of the fraction f given by

x for 0 < x < 1

for 1 < x < 4 3

- x + 4 for 4 < x < 5.

2.    Define elasticity of substitution. Show that elasticity of substitution is 1 for Cobb-Douglas production function.

3.    What is a production function? Write the properties of Cobb-Douglas production function.

4. Discuss the importance of the concept of elasticity of demand in Economics.

5.    Discuss the welfare implications of the theory of Monopolistic Competition.

6.    Discuss the cost-benefit as a tool for investment criterion.

7.    Solve the following linear programming graphically.

Max Z = I0x_x + 15x₂

S.t. 2x_x + x₂ -26 2x_x +4jc₂ 56 X_x-x₂ > - 5 x_1? *₂ > 0.

8.    Bring out the uses of Input-Output analysis in Economic Planning.

9.    Explain the theory of rational expectation. Discuss how this theory differs from those of Monetary Economists and Keynesians.

10. Given the following transaction matrix, find the Input-Output Coefficients.

Agriculture Industry Final

Demand

Agriculture    300    600    100

Industry    400    1200    400

If the final demands were changed to 200 and 800 respectively, find the gross output to meet the new demand.

Attachment: madurai-kamraj-university--mku--2006-m-phil--21927-1.pdf

Earning:   Approval pending.