Assess graduate students' ability to design, derive, solve, and interpret a stochastic heterogeneous‑agent DSGE model with incomplete markets, binding borrowing constraints, and endogenous labor supply to compare progressive taxation and a universal basic income. Required tasks: specify preferences, technology, and market structure; derive household, firm, and equilibrium conditions; select numerical solution and aggregation methods; calibrate/estimate parameters; run stochastic counterfactuals; compute distributional (Gini, quantiles), macro aggregates, and welfare metrics; and interpret policy trade‑offs and robustness.