Unit 1: Market Economy, Demand, Supply, Equilibrium of Demand Supply
Market Economy
Demand
- Meaning of Bank
- Meaning of Demand
- Law of Demand
- Types of Demand
- Determinants of demand
- Demand curve
- Movement Along Demand Curve
Supply
Equilibrium
Unit 2: Elasticity of Demand
General
Types of elasticity of demand
- Price elasticity of demand
- Perfectly elastic demand
- Perfectly inelastic demand
- Relatively elastic demand
- Relatively inelastic demand
- Unitary elastic demand
- Income Elasticity of demand
- Income elasticity of demand greater than one
- Income elasticity of demand less than one
- Income elasticity of demand equal to one
- Zero income elasticity of demand
- Negative income elasticity of demand
- Cross elasticity of demand
- Positive cross elasticity of substitute goods
- Negative cross elasticity of demand
- Measurement of price elasticity of demand by total outlay method
- Factors determining the elasticity of Demand
Unit 3: Theory of Consumers Behavior
Topics
- Utility
- Concepts of Utility
- The Law of diminishing marginal utility
- Limitation of diminishing marginal utility
- Importance of the law of diminishing marginal utility
- The law of maximum satisfaction/ The law of equi-marginal utility/ The law of substitution
- Exceptions/ Limitations of the law of substitution
- Consumer Surplus
- Criticism of Consumers’ Surplus
- Importance of concept of Consumers’ Surplus
Unit 4: Factors of Production
Topics
- Factors of production
- Land
- Labor
- Labor division
- Malthusian theory of population
- Stages of population
- Change in Optimum Population
- Limitations (Criticisms) of Optimum Theory
- Capital
- Organization
- Sole trading concern
- Partnership firm
- Joint Stock Company
Unit 5: Theory of Production
Topics
- Economics XII: Meaning in Factor Prices
- Concept of production
- Law of variable production
- Application of Law of diminishing return especially in agriculture
- The Laws of returns to scale
Unit 6: Revenue and Cost Curves
Revenue
- Economics XII: Meaning of Cost
- Concept of revenue
- Derivation of TR, AR and MR curves under the perfect competition market
Cost
- Economics XII: Meaning of Revenue
- Difference between fixed and variable cost
- Concept of short run cost
- Concept of short-run total cost curves
- Derivation of TR, AR and MR curves under monopoly market
- Concepts of short run average cost
- Marginal Cost (MC)
- Relationship between MC and AC
- Long Run Cost
- Theory of product pricing
- Perfect Competition Market
- Monopoly Market
Unit 7: Theory of Price and Output Determination
Unit 8: Theory of Factor Pricing
Topics
- Meaning of Production
- Rent
- Wage
- Subsistence theory of wage
- Wage fund theory of wage
- Interest
- Demand for capital
- Supply of capital
- Profit
- Risk theory of profit
- Uncertainty theory of profit
Unit 9: Money
Topics
- Barter system
- Definition of money
- Types of money
- Value of money
- Quantity theory of money
- Inflation
- Deflation
- Price index number
- Procedure of construction of price index
- Simple price index number
- Weighted price index
Unit 10: Banking
Topics
- Economics XII: Meaning
- Types of Bank
- Role of Bank
- Role of Central Bank with special reference to the Nepal Rastra Bank
- Functions of commercial banks
- Concept of money market
- Concept of capital market
- Difference between Money and Capital Market
Unit 11: Government Finance
Unit 12: International Trade
Topics
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