UPSC Economics 2021

Answer the following questions in about 150 words each: (a) Compare and contrast Marshallian and Walrasian approaches of the stability in equilibrium. (10 marks) (b) Using general…

(a) Explain the differences between Cournot model of duopoly with similar product and differentiated product. (15 marks) (b) What type of conjecture is involved in the existence o…

(a) Show that differences in underlying expectation lead to differences in Keynesian and classical aggregate supply curve. (15 marks) (b) Apply the theory of liquidity preference…

(a) Derive short-run aggregate supply curve following Lucas, when expectations are not realised, assuming that labour market clears. What will be its shape when expectations are f…

Answer the following questions in about 150 words each: (a) Explain Rosenstein-Rodan's view that economic underdevelopment is the outcome of a massive coordination failure. (10 ma…

(a) Evaluate Kuznets' inverted U shaped curve hypothesis of income distribution. Does it hold good for less developed countries as well ? (15 marks) (b) Does human capital cause e…

(a) Discuss the theory of acquired advantage in international trade using suitable examples. (15 marks) (b) Do you think that movement of the nominal exchange rate of Rupee repres…

(a) If the government raises taxes on labour income and interest income, explain how potential GDP and economic growth are affected. (15 marks) (b) Examine the effects of providin…

Answer the following questions in about 150 words each: (a) Examine the factors that facilitated commercialisation of Indian agriculture during the British rule. (10 marks) (b) Do…

(a) Compare the main features of development of jute and cotton textile industry in India during the British period. (20 marks) (b) Analyse the trends in the production of primary…

(a) Do you think that effective land reforms are necessary but not sufficient conditions for raising agricultural productivity in India? Explain your answer. (20 marks) (b) Examin…

(a) Do you think that India experienced a major break in GDP growth and its sectoral composition during the 1980s? Give reasons. (20 marks) (b) Examine the relative role of demand…

Answer the following questions in about 150 words each: (a) Examine the arguments to explain the theory of 'economic drain' from India in the second half of the 19th century. (10…

(a) What are the major components of public expenditure on agriculture in India? Would you recommend any changes in the pattern of public expenditure on agriculture to stimulate a…

(a) Analyse the sectoral inflows of FDI in India during the post-liberalisation period. (20 marks) (b) Critically discuss the strategies formulated by the Government of India to i…

(a) Define capital account convertibility. Examine Tarapore Committee (I and II) recommendations on capital account convertibility of rupee. (20 marks) (b) Analyse the effects of…