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NATIONAL INSTITUTE OF TECHNOLOGY ROURKELA

MID - TERM EXAMINATION


SESSION: 2016 – 2017 (AUTUMN)

Subject Name: ECONOMICS OF DEVELOPMENT

Subject code: HS - 541 Dept. Code: HS


No. of pages: 01 Full Marks: 50 Duration: 3 Hours

Figures at the right hand margin indicate marks.


All parts of a question should be answered at one place.

[5X10=50]
ANSWER ANY FIVE OF THE FOLLOWING QUESTIONS.
1. What do you mean by the term ‘underdevelopment’? Comment on some of the
key indicators of underdevelopment. On the basis of those indicators, do you
evaluate India as an underdeveloped country? Why or why not?
2. Briefly explain the main features of the pre-conditions of take-off and actual
stage of take-off as discussed by Rostow. What criticism can it be subjected to?
3. Write short notes on:
(a) Surplus Value
(b) Innovation
(c) Entrepreneur
4. Explain in brief the role of agriculture and industrialisation in economic
development. Bring out the inter-relationship between the two sectorial
developments.
5. Bring out the similarities and differences between Horrod and Domar models of
economic growth.
6. Examine critically the economic growth model developed by Robert Solow.
7. Between foreign trade and foreign aid, which international measure is more
suitable for economic development of countries like India?

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