UPSC Economics 2023

Answer the following questions in about 150 words each: (a) Examine the role of price elasticity of demand in determining the price set by a discriminating monopolist. (10 marks)…

(a) Explain the Cournot model of duopoly using reaction functions and interpret it as a Nash equilibrium. (20 marks) (b) "Perfect competition is incompatible with increasing retur…

(a) "Under rational expectation hypothesis, systematic monetary policy is ineffective." Explain the above statement using a suitable model. (20 marks) (b) In the IS-LM framework,…

(a) Explain the concept of "sterilization" in the context of monetary approach to balance of payments. (20 marks) (b) Tax burden is distributed between buyers and sellers in the r…

Answer the following questions in about 150 words each: (a) "Factor intensity reversal is incompatible with Heckscher-Ohlin model." Examine this statement. (10 marks) (b) Why depr…

(a) Consider the market for good X for Country 1 and Country 2. The supply and demand functions for Country 1 are given as P = Q + 70 and P = 170 – Q, while that of Country 2 are…

(a) Human capital and components of research and development are determining factors of economic growth. Explain using appropriate endogenous growth model. (20 marks) (b) Explain…

(a) How important is rent from extraction of renewable and non-renewable resources to distinguish between Net Domestic Product (NDP) and Environmentally adjusted Domestic Product…

Answer the following questions in about 150 words each: (a) Land system during the British rule was responsible for sustained poverty and stagnant growth in India. Comment. (10 ma…

(a) Explain the main features of money and credit policies in India during the pre-Independence era. (20 marks) (b) What are the factors contributing towards shift in sectoral com…

(a) Discuss the role of D. R. Gadgil in economic planning and development in India. (20 marks) (b) Explain the role of public sector in the Indian economy. Also point out its main…

(a) Explain the main causes of inequality in income distribution in India and examine how it affects welfare of the society. (20 marks) (b) Describe the pattern and trends in nati…

Answer the following questions in about 150 words each: (a) Distinguish between explicit and implicit subsidies. Explain the trends in explicit subsidies on irrigation and fertili…

(a) Discuss the characteristic features of Agreement on Agriculture (AOA) under Uruguay Round of GATT and examine its impact on Indian agriculture. (20 marks) (b) State the key fe…

(a) Briefly explain the growth and structure of India's foreign trade in the post-liberalization period. (20 marks) (b) Critically examine the contribution of Special Economic Zon…

(a) State the main provisions of the 73rd and 74th Constitutional Amendment Act, 1992. Do you agree that this Act has been successful in promoting the democratic decentralization…