What is 'deficit financing"? Explain how is it met?

Distinguish between collective decision making and individual decision making? Explain with examples how individual decision making is a case of general equilibrium?

 How does quantity of public goods and its distribution to the consumers is determined? Explain the Samuelson's pure theory of public expenditure in this regard.

. What is market failure? What kinds of state intervention are required to address the problem of externality and imperfect information?

What do you mean by the term "stabilization"? Explain the role of various instruments of fiscal policy to achieve the objectives of low unemployment and price stability?

Distinguish between equity and equality? Critically examine the Rawal's theory and theory of justice in this regard. Nosick's

Critically examine the relative merits and demerits of the fixed and flexible exchange rates. According to you, which of these two-exchange rate system should a developing country like India adopt?

Suppose an importing country imposes a tariff. What would be the impact of this tariff on this importing country as well as on the exporting country? Explain

Describe the evolution of international monetary system. Examine the trends in the international monetary and financial systems.

What are the various forms of economic integration? How is trade diversion different from trade creation? Elucidate.

Explain multilateral framework of international trade. Explain its main features.

What do you understand by "terms of trade? Explain the various conceptualisations of terms of trade. Discuss the behavior of terms of trade as explained by Prebisch.

Briefly explain Adam Smith's theory of Absolute Advantage. Discuss Ricardo's theory of Comparative Advantage.

Characterise the basic features of health services distinguishing between healthcare and medical care

Specify the functional form of 'Gini Coefficient' with its underlying rationale. Outline how it is useful to measure income and consumption inequalities.

How are 'market prices' and 'shadow prices' are useful as valuation tools for environmental services? Explain

 In what way the 'organisational change and technical efficiency' impacts the supply of healthcare services? Discuss.

 Briefly explain the concept of Capability Approach propounded by Sen.

Discuss the limitations of Coase Theorem.

Discuss the limitations of Coase Theorem.