Syllabus of Grade - XII


New Syllabus

Full Marks: 100                                                                                                    Teaching Hours: 150

Course Contents

PART – 'A'    MICROECONOMICS

Unit 1: Elasticity and Its Measurement (10LH)

Syllabus of Grade XII
  1. Review of demand and supply curves,
  2. Concept of elasticity of demand and its types: : Price, income and cross elasticity of demand,
  3. Degrees of price elasticity of demand,
  4. Determining factors of price elasticity of demands,
  5. Measurement of price elasticity: Total outlay method and point method ( linear case only),  
  6. Elasticity of supply

Unit 2: Theory of Consumer Behavior (13LH)

  1. Concept of cardinal utility: total utility and marginal utility and average utility,
  2. Law of diminishing marginal utility,
  3. Law of substitution,
  4. Consumer's surplus: concept and importance

Unit 3: Theory of Production (10LH)

  1. Concept of Production function (short and long run);
  2. Total, average and marginal products and their derivation,
  3. Law of variable proportions,
  4. Returns to scale

Unit 4: Market, Revenue and Cost Curves (15LH)

  1. Concept of market: Perfect competition, Monopoly and Imperfect competition,
  2. Concepts of total, average and marginal revenue,
  3. Derivation of average revenue and marginal revenue from total revenue curve under perfect competition and monopoly,
  4. Fixed cost, variable cost, and total cost, average and marginal costs,
  5. Derivation of short run cost curves

Unit 5: Theory of Price and Output Determination (10LH)

  1. Equilibrium of firm: TR = TC and MR = MC approaches,
  2. Meaning, features and price and output determination under perfect competition (firm and industry),
  3. Meaning, features and price and output determination under monopoly

Unit 6: Factor Pricing (15LH)

  1. Rent: Concept of economic rent and contract rent; Ricardian theory of rent,
  2. Wage: money wage and real wage; subsistence wage theory, wage fund theory,
  3. Interest: gross and net interests; classical theory of interest,
  4. Profit: gross and net profits risk and uncertainty bearing theories of profit

PART - 'B'     MACROECONOMICS

Unit 7: Basic Concept (6LH)
  1. Meaning of macroeconomics,
  2. Closed and open economy, and
  3. Macro-economic variables

Unit 8: National Income Accounting (10LH)

  1. 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;
  2. GDP deflator,
  3. Circular flow of income,
  4. Measurement of national income: product, income and expenditure methods,
  5. Difficulties in measuring national income

Unit 9: Money (10LH)

  1. Meaning, importance, functions and forms of money,
  2. Value of money,
  3. Quantity theory of money (Fisher's equation),
  4. Inflation and deflation: meaning, causes and consequences

Unit 10: Banking (10LH)

  1. Role of banking system in economy,
  2. Classification of bank: Central Bank and Commercial bank and development banks,
  3. Functions of central bank with special reference to Nepal Rastra Bank,
  4. Functions of commercial banks with reference to commercial bank in Nepal,
  5. Concepts of money market and capital market

Unit 11: Government Finance (18LH)

  1. Concept and importance of government finance,
  2. Government expenditure: importance and classification,
  3. 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,
  4. Government borrowing: concept of internal and external borrowing,
  5. Government budget: Meaning and steps of budget formulation.

Unit 12: International Trade (12 LH)

  1. Concept and importance of International trade,
  2. Balance of Trade: Surplus, deficit and balance,
  3. Concept and importance of balance to payment.
  4. Free trade and protectionism: advantages and disadvantages,
  5. Nepal's foreign trade; growth, composition, and direction; its problems
  6. Ricardian comparative cost theory of international trade,
  7. General introduction to WTO and SAFTA
Evaluation Scheme


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