IGNOU MEC-104: Economics of Growth and Development – Solved Assignment 2024-25
Below is the complete set of answers for the Tutor Marked Assignment (TMA) for MEC-104, valid for the academic year 2024-25. Each question has been answered in a detailed yet simple manner, suitable for students from all backgrounds.
- Explain how the Solow model differs from the Harrod-Domar model. Which of the two do you think is more relevant in describing the development process of developing nations?
View Answer - Why does diminishing returns to capital not take place in the AK growth model? Analyse the Lucas model of endogenous growth, bringing out the role of human capital.
View Answer - Distinguish between economic growth and development. Briefly mention the main benefits that economic growth confers upon society.
View Answer - Describe the characteristic features of labour markets in developing countries.
View Answer - What are the various approaches to the measurement of total factor productivity? Explain.
View Answer - Discuss the relationship between income inequality and economic growth.
View Answer - What impact do geographical factors have on economic development?
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