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Economics Syllabus Outline
Chapter 1: Basic Concept of Economics and Allocation of Resources
- Origin and Development of Economics
- Meaning and Definition of Economics
- Adam Smith: Wealth Definition
- Alfred Marshall: Welfare Definition
- Lionel Robbins: Scarcity Definition
- Similarities and Differences: Marshall vs Robbins
- Superiority of Robbins' Definition
- P.A. Samuelson: Growth Definition
- Meaning and Definition of Economics
- Subject Matter of Economics
- Positive and Normative Economics
- Differences
- Microeconomics and Macroeconomics
- Inter-dependence
- Differences
- Meaning of Goods and Services
- Differences between Goods and Services
- Types
- Factors of Production
- Land and its Characteristics
- Labor and its Characteristics
- Capital and its Characteristics
- Organization - Functions and Characteristics
Chapter 2: Demand, Supply, and Market Equilibrium
- Market Economy - Features
- Demand and Factors
- Types of Demand
- Factors in Detail
- Desire vs Demand
- Law of Demand
- Causes of Downward Slope
- Exceptions
- Schedule, Curve, Equation
- Individual vs Market Curves
- Movement vs Shift
- Supply and Factors
- Factors in Detail
- Law of Supply
- Exceptions
- Schedule, Curve, Equation
- Individual vs Market Curves
- Movement vs Shift
- Interaction between Demand and Supply / Equilibrium
Chapter 3: Elasticity of Demand and Supply
- Elasticity
- Elasticity of Demand
- Price, Income, Cross Elasticity
- Determinants
- Elasticity of Supply - Determinants
Chapter 4: Consumer's Behavior
- Utility Concept and Types
- Total, Average, Marginal Utility
- Relationship TU vs MU
- Law of Diminishing Marginal Utility
- Law of Substitution
- Consumer's Surplus
- Producer's Surplus
Chapter 5 to 14
- Theory of Production: Function, TP, AP, MP, Isoquants, Returns to Scale
- Macroeconomics: Concepts, Variables, Open vs Closed Economy
- National Income: Concepts, Measurement, Difficulties in Nepal
- Money and Inflation: Types, Theories, Inflation & Deflation
- Development & Growth: Indicators, Capital Formation, Characteristics
- Nepalese Economy: Geography, Features, Macroeconomic Indicators
- Natural Resources: Water, Forest, Minerals, Management, Climate Change
- Agriculture: Importance, Problems, Finance, Marketing
- Industries & Tourism: Concepts, Importance, Problems
- Transportation & Communication: Importance, Means, Problems & Solutions
Mathematics Portion
- Uses of Mathematics in Economics
- Importance of Mathematics in Economics
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