Basic Resource and Energy Economics — DU B.A. (Hons.) Economics Previous Year Question Papers

Basic Resource and Energy Economics Common Pool of GE 90 Marks attempt c[ny f toe questions. Q1.Describehowdynamicefficiencyguidestheallocationofdepletableresourcesovertime, and how the transition to renewable resources is determined in this context. (18) Q2. Discuss how openlaccess fisheries differ fi.om sole-owner managed fisheries in terms of efficiency and sustainability. What types of extemal costs result and why does open access ^^\ often lead to overexploitation? Q3. Explain the significance of compensating production changes among OPEC members and how Smith (2005) uses this concept to test cartel behaviour. (18) Q4. a) What environmental consequences emerged from the evolving patterns of energy use in the United Kingdom over the last thousand years as comprehended in Fouquest (1998)? b) Explain the Hotelling Rule and its significance in the economics of depletable energy „^ Q5. Explain the four thematic pathways identified for sustainable energy.transition in the article. Why is an interdisciplinary approach emphasized for achieving sustainable energy