JUNE-2021
B.A. (VI Semester) Examination
ECONOMICS
Paper: BECO-611
(History of Economic Thought)
Full Marks : 80
Pass Marks : 35%
Time : Three Hours
Notes: (i) Answer all questions.
(ii) The figures in the margin indicate full marks for the questions.
SECTION-I
1. Answer the following questions: 2x5=10
(a) Who was the opponent of mercantilism?
(b) State Say’s law of the market
(c) What do you mean by Drain Theory?
(d) What is surplus value according to Karl Marx?
(e) Explain, what do you mean by balance of trade?
SECTION-II
2. Answer any four of the following questions: 5x4=20
(a) Explain briefly the physiocratic theory of tax incidence.
(b) Discuss the division of labour and its importance according to Smith.
(c) Briefly explain the limitations of Malthusian theory.
(d) Evaluate the implications of Ricardian theory of rent.
(e) Discuss the main ideas of Karl Marx’s labour theory of value.
(f) What is the difference between partial and general equilibrium?
SECTION-III
3. Answer any five questions: 10x5=50
(a) Discuss the rationale of the Tableau Economique of Quesnay.
(b) Why did the Physiocrats oppose marcantilists? Explain.
(c) Discuss the basic principles of Malthus theory of population.
(d) Explain the assumptions of general equilibrium and its effects on production.
(e) Critically examine Malthusian theory of population growth.
(f) Discuss Gandhian philosophy of Khadi and village industries and its relevance today in India.
(g) Analyze the economic ideas of Gokhle in the pre-Independent India.
