Name of the University : Institute For Social And Economic Change
Degree : PhD Entrance Examination Model Question Paper
Document Type : Model Question Paper
Name of the Subject : Economics
Website : isec.ac.in
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PhD Entrance Examination Model Question Paper :
Part A : Objective Type Questions
A1. The income elasticity of demand for inferior goods will be
A. positive but less than unity
B. positive but ranges from zero to infinity
C. negative but less than unity
D. negative and ranges from zero to minus infinity
Related : Indian Institute of Technology Guwahati PHD Entrance Model Question Paper : www.pdfquestion.in/7609.html
A2. If f(y)=y/(1-y) and g(y) = y/(1+y), then f(y) – g(y) is
A. f(y)
B. 2f(y2)
C. [f(y)]2
D. none of the above
Part B :
B1. Suppose supply of a good by a domestic firm is given by: Qsd = 10 + 2p and of a foreign firm, that is also supplying, is Qsf = 10 + p, p denotes price and Q denotes quantity. The market demand is given by QDD= 30 –p. Suppose a quota is imposed on the foreign firm such that it can sell a maximum of 10 units. Find the equilibrium quantity and price. How does this equilibrium compare with the equilibrium when there is no quota restriction?
B2. Discuss the concepts of income and substitution effects (in demand theory) using diagrams.
Part C :
C1.(a) What is meant by a neutral technological change? (b) What is a labour augmenting technological change? (c) What is a homogeneous production function?
C2. Consider a household budget constraint of the following form
PY1 + b0 (1+ R) + m0 = P C1 + b1 + m1 Where, Y1 is the output of period 1, Price of good = P, b0 (1+ R) is the total income in period 1 from bonds purchased in period ‘0’ , where R is the rate of interest. C1 denotes consumption in period 1, b1 bond purchased in period 1 and m0 and m1 are money holding in period 0 and 1 respectively.
a) Given this specification write household’s budget constraint for period 2. Are the budget constraints for period 1 and 2 independent? Give reasons.
b) Combining appropriately period 1 and 2 budget constraints write the combined 2- period budget constraint under the assumption that mt = m for all time period t.
Part D :
D1. Having derived a model for the exchange rate st as a function of the interest rate differential rt using the following regression
st= a + b rt + et where et is an error term, how would you check for the presence of serial correlation in the error term and how would you deal with it.
D2. Discuss probability and non probability sampling
Part -E :
E1. What do you understand by the term ’ Inclusive Growth’? Briefly discuss the measures initiated in this direction by the government.
E2. What is a subsidy? What kind of subsidies are justified according to you and why?
Subject: Environmental Economics / Ecological Economics
Part-A :
1. Open access resource is:
A. Non-excludable
B. Non-rival
C. Not managed
D. All the above
2. The valuation approach adopted in Travel cost method is:
A. Revealed Preference
B. Stated Preference
C. Both revealed and stated preference methods
D. None of the above
Part-B : Answer any FOUR questions (Ten marks each)
1. Critically evaluate the Forest Policies in Post Independent India.
Part-C : Answer any THREE questions (Ten marks each)
1. Discuss the various approaches for tackling environmental degradation? Discuss this with reference to the Indian experience?
Subject: Agricultural Economics/Rural Development
Part A :
1. Command Area Development Authority does not carry out:
a) Construction of Dam
b) Formulation of Water Users’ Associations
c) Collection of Water Rates
d) Distribution of Water
2. Agriculture commodity imports have gone up between 2000-04 by:
a) 100 per cent
b) 243 per cent
c) 300 per cent
d) 187 per cent
Part B :
1. Comment upon the debate on land issues in the context of tenancy market, land put to non-agricultural uses and crop diversification.
2. Discuss the usage of Common Property Resources and its environmental effects.
Part C : (A)
1. Rural infrastructure
2. Cobweb theorem in the context of highly elastic supply curve