Attempt any four questions. All questions carry equal marks.
- A) “Perhaps year 1987 was a landmark development for institutional development in environmental economics.” Comment. 5
OR
B) What is social limits to growth and how Daly’s proposition relates to the desirability of growth, rather than its feasibility? 5
- Write short notes on any two: 2 ½ * 2
a) Environmental Kuznets Curve & evidence on EKC hypothesis
b) Limits to Growth
c) Demographic Theory of Transition & impact of population growth on environment
d) Biodiversity and instrument for conserving biodiversity
e) The Hartwick rule
3. Briefly discuss the concepts of sustainability and explain the concept of sustainable, sustained and survivable development with the help of consumption function. 2 ½ + 2 ½
- Critically evaluate the role of government in the conservation of environment and to correct market failure in public goods. 4 + 1
- List the criterion used for selection of pollution control instruments and present a classification of pollution control instruments. Why command and control instruments are preferred over market based instruments in developing countries? 2+2+1
- Discuss the institutional arrangements required for an efficient allocation of resources. How the presence of externalities cause to market failure. 2 ½ + 2 ½
- Explain institutional approaches, with suitable diagram, which facilitate internalization of externalities. Why design of policy instruments is more difficult for mobile than for stationary source pollutants? 2 ½ +2 ½
- A) Explain how hedonic price theory can be used in determining the demand or marginal willingness to pay for non-marketed commodities? 5
OR
B) Explain the Travel Cost Approach of assessing an individual’s willingness to pay for an environmental resource such as a recreational site. 5
