IGNOU MEC 106 Solved Assignment 2022-23 : MEC 106 Solved Assignment 2023 , MEC 106 Solved Assignment 2022-23, MEC 106 Assignment 2022-23 , MEC 106 Assignment, IGNOU MEC 106 Solved Assignment 2022-23 IGNOU Assignments 2022-23- Gandhi National Open University had recently uploaded the assignments of the present session for MEG Programme for the year 2022-23. Students are recommended to download their Assignments from this webpage itself.
IGNOU MEC 106 Solved Assignment 2022-23
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Important Note – IGNOU MEC 106 Solved Assignment 2022-23 You may be aware that you need to submit your assignments before you can appear for the Term End Exams. Please remember to keep a copy of your completed assignment, just in case the one you submitted is lost in transit.
Submission Date :
- 31st March 2033 (if enrolled in the July 2033 Session)
- 30th Sept, 2033 (if enrolled in the January 2033 session).
SECTION – A
1. Define and elaborate the term ‘Global Public Goods’ (GPG)? How are millennium development goals are associated with GPG? Explain knowledge as a GPG.
2. Discuss the public debt situation of India. How can the deficit in the government budget be financed? How does the concept of debt sustainability work?
Ans. At end-March 2022, India’s external debt was placed at US$ 620.7 billion, recording an increase of US$ 47.1 billion over its level at end-March 2021. The external debt to GDP ratio declined to 19.9 per cent at end-March 2022 from 21.2 per cent at end-March 2021.
Valuation gains due to the appreciation of the US dollar vis-à-vis Indian rupee and major currencies such as yen, SDR, and euro were placed at US$ 11.7 billion. Excluding the valuation effect, external debt would have increased by US$ 58.8 billion instead of US$ 47.1 billion at end-March 2022 over end-March 2021.
At end-March 2022, long-term debt (with original maturity of above one year) was placed at US$ 499.1 billion, recording an increase of US$ 26.5 billion over its level at end-March 2021.
The share of short-term debt (with original maturity of up to one year) in total external debt increased to 19.6 per cent at end-March 2022 from 17.6 per cent at end-March 2021. Similarly, the ratio of short-term debt (original maturity) to foreign exchange reserves increased to 20.0 per cent at end-March 2022 (17.5 per cent at end-March 2021).
Short-term debt on residual maturity basis (i.e., debt obligations that include long-term debt by original maturity falling due over the next twelve months and short-term debt by original maturity) constituted 43.1 per cent of total external debt at end-March 2022 (44.1 per cent at end-March 2021) and stood at 44.1 per cent of foreign exchange reserves (43.8 per cent at end-March 2021).
US dollar denominated debt remained the largest component of India’s external debt, with a share of 53.2 per cent at end-March 2022, followed by debt denominated in the Indian rupee (31.2 per cent), SDR (6.6 per cent), yen (5.4 per cent), and the euro (2.9 per cent).
Outstanding debt of both government and non-government sectors increased during 2021-22.
The share of outstanding debt of non-financial corporations in total external debt was the highest at 40.3 per cent, followed by deposit-taking corporations (except the central bank) (25.6 per cent), general government (21.1 per cent) and other financial corporations (8.6 per cent).
Loans remained the largest component of external debt, with a share of 33.0 per cent, followed by currency and deposits (22.7 per cent), trade credit and advances (19.0 per cent) and debt securities (17.1 per cent).
Debt service (i.e., principal repayments and interest payments) declined to 5.2 per cent of current receipts at end-March 2022 as compared with 8.2 per cent at end-March 2021, reflecting lower repayments and higher current receipts.
The World Bank Group and the IMF work with low-income countries to produce regular Debt Sustainability Analyses, which are structured examinations of developing country debt based on the Debt Sustainability Framework.
Our two institutions use this framework to guide the borrowing decisions of low-income countries in a way that balances their financing needs with their ability to repay—both in the present and in the future.
This area of work has three goals:
Ensure that countries that have received debt relief are on a sustainable development track.
Allow creditors to better anticipate future risks and tailor their financing terms accordingly.
Help client countries balance their needs for funds with the ability to repay their debts.
The following table summarizes the information available for each of the low-income countries included in the Debt Sustainability Framework for Low-Income Countries (LIC DSF).
Latest Publicly Available Debt Sustainability Analyses Under the Joint Bank-Fund Debt Sustainability Framework for Low Income Countries (LIC-DSF)
SECTION – B
3. Explain collective decision making with the help of majority voting and median voter theorem.
Ans. Whenever the distribution of voters has a unique median in all directions, and voters rank candidates in order of proximity, the median voter theorem applies: the candidate closest to the median will have a majority preference over all his or her rivals, and will be elected by any voting method satisfying the median voter property in one dimension.
Assume that there is an odd number of voters and at least two candidates, and assume that opinions are distributed along a spectrum. Assume that each voter ranks the candidates in an order of proximity such that the candidate closest to the voter receives their first preference, the next closest receives their second preference, and so forth. Then there is a median voter and we will show that the election will be won by the candidate who is closest to him or her.
Proof — Let the median voter be Marlene. The candidate who is closest to her will receive her first preference vote. Suppose that this candidate is Charles and that he lies to her left. Then Marlene and all voters to her left (comprising a majority of the electorate) will prefer Charles to all candidates to his right, and Marlene and all voters to her right will prefer Charles to all candidates to his left.
The Condorcet criterion is defined as being satisfied by any voting method which ensures that a candidate who is preferred to every other candidate by a majority of the electorate will be the winner, and this is precisely the case with Charles here; so it follows that Charles will win any election conducted using a method satisfying the Condorcet criterion.
We will say that a voting method has the “median voter property in one dimension” if it always elects the candidate closest to the median voter under a one-dimensional spatial model. We may summarise the median voter theorem as saying that all Condorcet methods possess the median voter property in one dimension.
It turns out that Condorcet methods are not unique in this: Coombs’ method is not Condorcet-consistent but nonetheless satisfies the median voter property in one dimension.
The more informal assertion – the median voter model – is related to Harold Hotelling’s ‘principle of minimum differentiation’, also known as ‘Hotelling’s law’. It states that politicians gravitate toward the position occupied by the median voter, or more generally toward the position favored by the electoral system. It was first put forward (as an observation, without any claim to rigor) by Hotelling in 1929.
Hotelling saw the behavior of politicians through the eyes of an economist. He was struck by the fact that shops selling a particular good often congregate in the same part of a town, and saw this as analogous the convergence of political parties. In both cases it may be a rational policy for maximizing market share.
As with any characterization of human motivation it depends on psychological factors which are not easily predictable, and is subject to many exceptions. It is also contingent on the voting system: politicians will not converge to the median voter unless the electoral process does so. If an electoral process gives more weight to rural than to urban voters, then parties are likely to converge to policies which favor rural areas rather than to the true median.
The theorem also applies when the number of voters is even, but the details depend on how ties are resolved.
The assumption that preferences are cast in order of proximity can be relaxed to say merely that they are single-peaked.
The assumption that opinions lie along a real line can be relaxed to allow more general topologies.
Spatial / valence models: Suppose that each candidate has a valence (attractiveness) in addition to his or her position in space, and suppose that voter i ranks candidates j in decreasing order of vj – dij where vj is j ‘s valence and dij is the distance from i to j. Then the median voter theorem still applies: Condorcet methods will elect the candidate voted for by the median voter.
4. Explain the theory of fiscal federalism and discuss the inter-governmental transfers in India.
5. Define Externalities. Explain how externalities lead to market failure. How does a negative production externality allocate resources inefficiently? Use appropriate diagram to support your answer.
6. Define Public Goods. Elaborate the features of a public good. Show the efficient provision of a public good as per the Lindahl’s equilibrium model.
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IGNOU MEC 106 Solved Assignment 2022-23
7. Write short notes on the following:
(i) Command and Control method
(ii) Wagner’s Law
(iii)Ramsey Rule of optimal commodity taxation
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IGNOU Instructions for the MEC 106 SOCIAL STRATIFICATION
IGNOU MEC 106 Solved Assignment 2022-23 Before attempting the assignment, please read the following instructions carefully.
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GUIDELINES FOR IGNOU Assignments 2022-23
MEC 106 Solved Assignment 2022-23 You will find it useful to keep the following points in mind:
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MEC 106 Handwritten Assignment 2022-23
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