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ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Economics)
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.
Course: Economics (402) Semester: Autumn, 2010
Level: B.A. Total Marks: 100
Pass Marks: 40
ASSIGNMENT No. 1
(Units 1–4)
Q.1 Define economics in the light of ideas given by Adam Smith, Alfred Marshal and Robins. Which definition is more suitable and why? Also explain the uses of studying economics as a subject? (20)
Q.2 Explain the concept of utility by discussing the characteristics of human necessities from your daily life? (20)
Q.3 Derive the supply curve of an industry from the supply curve of the firm. Also explain the method of deriving supply curve of a firm? (20)
Q.4 What is meant by indifference curves? Also write a note on the characteristics of indifferences curves in detail? (20)
Q.5 Write a note on the following: (20)
a) Marginal utility and average utility
b) Consumer equilibrium (under Indifference Curve Approach)
c) Microeconomics and macroeconomics
d) Income effect of a price changes in case of Giffen and Normal goods.
ASSIGNMENT No. 2
(Units 5–8)
Total Marks: 100 Pass Marks: 40
Q.1 Define market. Also write a note on the types of market in detail? (20)
Q.2 Explain the equilibrium of a firm under perfect competition in the short- run. Also explain the long-run position of that firm? (20)
Q.3 Explain with the help of diagrams the equilibrium of a firm having monopoly power in the market in the short-run and long run? (20)
Q.4 What is meant by laws of return? Explain three types of laws of variable proportions in detail? (20)
Q.5 Write a short note on each of the following: (20)
a) Forms of Organization
b) Marginal productivity Theory
c) Internal and External Economies of Scale
d) Different types of Equations
ASSIGNMENT No. 3
(Units 9–13)
Total Marks: 100 Pass Marks: 40
Q.1 Explain different methods of measuring the national income. Also differentiate among the two sectors, three sectors and four sectors economics. (20)
Q.2 What is a bank? Write a note on the evolution and functions of central bank in detail. (20)
Q.3 Differentiate between balance of trade and balance of payment. Also explain the structure of balance of payment and the four types of equilibrium in it. (20)
Q.4 Define money. Also explain the process of credit creation in detail. (20)
Q.5 Write a note on the following: (20)
i) Fischer’s Equation of Exchange
ii) Multiplier and accelerator
ASSIGNMENT No. 4
(Units 14–18)
Total Marks: 100 Pass Marks: 40
Q.1 What is protection? Enumerate the merits and demerits of protection in detail. (20)
Q.2 Explain the importance of public expenditures and revenues. Also give a detailed discussion on the classification of public expenditures and revenues. (20)
Q.3 Define fiscal policy. Also discuss in detail the effects of public expenditures and taxes on national income with the help of diagrams. (20)
Q.4 Define economic development. Also discuss in detail how economic development can be measured in a country under consideration. (20)
Q.5 What is planning? Also discuss the process of planning in Pakistan by explaining anyone of the Five Years Plan as an example. (20)