  The problem of counting the vacuum states in the supersymmetric 3d
Yang-Mills-Chern-Simons theory is reconsidered. We resolve the controversy
between its original calculation by Witten at large volumes and the calculation
based on the evaluation of the effective Lagrangian in the small volume limit.
We show that the latter calculation suffers from uncertainties associated with
the singularities in the moduli space of classical vacua where the
Born-Oppenheimer approximation breaks down. We also show that these
singularities can be accurately treated in the Hamiltonian Born-Oppenheimer
method, where one has to match carefully the effective wave functions on the
Abelian valley and the wave functions of reduced non-Abelian QM theory near the
singularities. This gives the same result as original Witten's calculation.
