Answer all the given questions. Section A to be answered in around 500 words each and Section B to be answered in around 300 words.
Section A:
Question 1: Describe the phases and various coordination mechanisms comprised in policy processes.
Discuss different factors that influenced the agenda setting in the policy processes.
Question 2: Bring out the main concerns of public economics. Which type of public intervention is not still considered a portion of the public economics and why?
Section B:
Question 3: Describe the given below:
a) Tiebout Model.
b) Social Welfare Function.
c) Pareto efficient tax structure.
Question 4: Critically observe the statement that privatization can always decentralize economic power.
Question 5: Answer any two of the given in around 250 words each:
a) Look at two principles of public debt management as stated by the Philip E Taylor.
b) Shortly specify the new trends regarding the role of state?
c) Assess the Bowen and Black’s model for the identification of median voter preference.
Question 6: Differentiate between external debt and internal debt. What are the factors which a government must take care of so that the economy doesn’t fall into a debt trap?
Question 7: Distinguish between:
a) Positive externalities and Negative externalities.
b) Horizontal equity and Vertical equity.
c) Kaldor Compensation Criteria and Hicks Compensation Criteria.