New Syllabus
Full Marks: 100 Teaching
Hours: 150
Course Contents
PART – 'A' MICROECONOMICS
Unit 1: Elasticity and Its Measurement
(10LH)
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Syllabus of Grade XII
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- Review
of demand and supply curves,
- Concept
of elasticity of demand and its types: : Price, income and cross elasticity of
demand,
- Degrees
of price elasticity of demand,
- Determining
factors of price elasticity of demands,
- Measurement
of price elasticity: Total outlay method and point method ( linear
case only),
- Elasticity
of supply
Unit 2: Theory of Consumer Behavior (13LH)
- Concept
of cardinal utility: total utility and marginal utility and average
utility,
- Law of
diminishing marginal utility,
- Law of
substitution,
- Consumer's
surplus: concept and importance
Unit 3: Theory of Production (10LH)
- Concept
of Production function (short and long run);
- Total,
average and marginal products and their derivation,
- Law of
variable proportions,
- Returns
to scale
Unit 4: Market, Revenue and Cost Curves
(15LH)
- Concept
of market: Perfect competition, Monopoly and Imperfect competition,
- Concepts
of total, average and marginal revenue,
- Derivation
of average revenue and marginal revenue from total revenue curve under perfect
competition and monopoly,
- Fixed
cost, variable cost, and total cost, average and marginal costs,
- Derivation
of short run cost curves
Unit 5: Theory of Price and Output
Determination (10LH)
- Equilibrium
of firm: TR = TC and MR = MC approaches,
- Meaning,
features and price and output determination under perfect
competition (firm and industry),
- Meaning,
features and price and output determination under monopoly
Unit 6: Factor Pricing (15LH)
- Rent: Concept of economic rent and contract
rent; Ricardian theory of rent,
- Wage: money wage and real wage; subsistence wage theory,
wage fund theory,
- Interest: gross and net interests; classical theory
of interest,
- Profit: gross and net profits risk and uncertainty
bearing theories of profit
PART - 'B' MACROECONOMICS
Unit 7: Basic Concept (6LH)
- Meaning
of macroeconomics,
- Closed
and open economy, and
- Macro-economic
variables
Unit 8: National Income Accounting (10LH)
- Gross
Domestic product (GDP), Gross National Product (GNP), National Income (NI). Net
National Product (NNP), personal Income (PI), Disposable income (DI), and Per
Capita Income, Nominal and real GDP: difference and calculations;
- GDP
deflator,
- Circular
flow of income,
- Measurement of national income: product,
income and expenditure methods,
- Difficulties
in measuring national income
Unit 9: Money (10LH)
- Meaning, importance, functions and forms of
money,
- Value of money,
- Quantity theory of money (Fisher's equation),
- Inflation and deflation: meaning, causes and consequences
Unit 10:
Banking (10LH)
- Role of
banking system in economy,
- Classification
of bank: Central Bank and Commercial bank and development banks,
- Functions
of central bank with special reference to Nepal Rastra Bank,
- Functions
of commercial banks with reference to commercial bank in Nepal,
- Concepts
of money market and capital market
Unit 11: Government Finance (18LH)
- Concept
and importance of government finance,
- Government
expenditure: importance and
classification,
- Government
revenue: Tax and non-tax sources, concept of direct and
indirect taxes, concept of progressive, proportional,
regressive and digressive taxes, characteristics of a good tax system,
- Government
borrowing: concept of internal and external borrowing,
- Government
budget: Meaning and steps of budget formulation.
Unit 12: International Trade (12 LH)
- Concept
and importance
of
International trade,
- Balance
of Trade: Surplus, deficit
and balance,
- Concept
and importance of balance to payment.
- Free
trade and protectionism: advantages and
disadvantages,
- Nepal's foreign trade; growth, composition, and direction;
its problems
- Ricardian
comparative cost theory of international trade,
- General
introduction to WTO and SAFTA
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| Evaluation Scheme |
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