MDV-101: Assignment 1 – Answer Index Here are the full answers to the MDV-101 Tutor Marked Assignment for the academic year 2024–25. Each answer is written in easy-to-understand language and meets IGNOU’s expected quality and word count requirements. What is economic development? Discuss different measures of economic development. Critically discuss Solow’s growth model. What are […]
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Introduction Neoliberalism is a modern economic and political ideology that emphasizes the value of free markets, minimal government intervention, deregulation, and privatization. Emerging strongly during the 1980s under leaders like Ronald Reagan (USA) and Margaret Thatcher (UK), neoliberalism has significantly influenced global economic policies, including those of international institutions like the IMF and World Bank.
What do you understand by Neo-liberalism? Discuss the basic principles of Neoliberalism. Read More »
Introduction Ragnar Nurkse, an Estonian economist, is best known for his work on economic development and his theory of Balanced Growth. Introduced in the 1950s, this theory was designed to help developing countries escape the vicious cycle of poverty and underdevelopment. Nurkse believed that simultaneous investments across different sectors of the economy were necessary to
Discuss Ragnar Nurkse’s Theory of Balanced Growth. Read More »
Introduction The Marxian economic system is based on the ideas of Karl Marx, a 19th-century philosopher, economist, and political theorist. His theories aim to understand the functioning of capitalism and highlight the role of class conflict in economic development. One of the core elements of Marx’s theory is the process of capital accumulation, which he
Introduction Solow’s growth model, also known as the Solow-Swan model, is a foundational economic theory that explains long-term economic growth by analyzing capital accumulation, labor or population growth, and technological progress. Developed by Robert Solow and Trevor Swan in the 1950s, the model attempts to show how these factors influence an economy’s output over time.
Critically discuss Solow’s growth model. Read More »
Introduction Economic development refers to the process through which a country improves the economic, political, and social well-being of its people. It is not just about increasing income levels but also about reducing poverty, creating jobs, improving health and education, and ensuring sustainable growth. Economic development is a broader concept than economic growth, which only
What is economic development? Discuss different measures of economic development. Read More »
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