1. Answer anyone of the following in about 1200 words:

Define 'economics of education' and 'economics of distance education'. What major areas of work are covered under economics of distance education? Analyse with an example for each major area.

OR

How are funds generated and utilised within education? Describe in what ways distance education can be more cost-effective than formal classroom education.

2. Answer any four of the following in about 300 words each

In what way increase in education contributes to increase in earning profile over a period of time

How can spending on distance education be considered as investment?

Distinguish between fixed and variable costs in education with the help of suitable examples.

What justifications will you give to argue that distance education contributes to human resource development?

Distinguish between distance education as consumption and as investment. Can distance education be considered as consumption at all

3. Answer anyone of the following in about 1200 words:

In what ways can resources be mobilised for distance education while maintaining its contribution to cost-effectiveness and cost-efficiency

Giving a practical example, show how average and marginal costs manifest in designing and implementing any distance education programme. At what stage a break even be achieved, and what decisions on its operation can be made at that stage?