Class 11 economics syllabus

Chapter 1: Basic concept of economics and allocation of resources - 8 hours

1.1 Definition of economics: Adam Smith, Alfred Marshall, Robbins

1.2 Concepts of positive and normative economics

1.3 Concepts and differences of micro and macro economics

1.4 Types of goods and services: Normal, Giffen, Inferior, Substitutes, Complement, Private , Public, economic and free

1.5 Introduction and characteristics of factors of production: Land, Labour, Capital and Organization

Chapter 2: Microeconomics - 38 hours

2.1 Demand, Supply and Market equilibrium

2.1.1 Demand: Meaning of demand, demand function, law of demand, determinants of demand, movement along and shift in demand curves factors causing shifts of demand curves.

2.1.2 Supply: Meaning of supply, supply function, law of demand, determinants of demand, movement along and shift in demand curves, factors causing shifts of demand curves.

2.1.3 Interaction between demand and supply/equilibrium situation

2.2 Elasticity of demand and supply

2.2.1 Concept of elasticity of demand and its types: Price, Income and Cross elasticity of demand

2.2.2 Types of price, income, cross elasticity of demand

2.2.3 Determining factors of price plasticity of demand

2.2.4 Concept and types of elasticity of supply

2.3 Consumer’s Behavior

2.3.1 Concept of cardinal utility: Total and Marginal Utility

2.3.2 Law of diminishing marginal utility

2.3.3 Law of substitution

2.3.3 Concept consumers surplus and producer’s surplus

2.4 Theory of production

2.4.1 Concept of production and production function (Short and Long run)

2.4.2 Total average and marginal products and their derivation

2.4.3 Law of variable proportions

2.4.4 Laws of returns to scale

Chapter 3: Macroeconomics -25 hours

3.1 Introduction to macroeconomics

3.1.1 Macroeconomic variables

3.1.2 Concept of closed and open economy

3.2 National income accounting

3.2.1 Various concepts of National income: Gross Domestic product (GDP),Gross National Product (GNP), Net National Product (NNP), National Income (NI), Personal Income (PI), Disposable Income (DI) and Per Capita Income (PCI)

3.2.2 Nominal and real GDP, difference and calculations: GDP deflator.

3.2.3 Measurement of national income: Product, Income and Expenditure methods.

3.2.4 Difficulties in measuring national income in reference to Nepal

3.3 Money and inflation

3.3.1 Meaning, importance, functions and forms of money

3.3.2 Concept of money supply: narrow and broad money

3.3.3 Quantity theory of money (Fisher’s equation)

3.3.4 Meaning, cause and consequences of inflation and deflation

Chapter 4: Development economics - 8 hour

4.1 Economic development, growth and capital formation

4.1.1 Indicators of economic development, growth

4.1.2 Indicators of economic development

4.1.3 Characteristics of developing countries

4.1.4 Capital formation process

Chapter 5: Economy of Nepal - 28 hour

5.1 Review of economy of Nepal

5.1.1 Contemporary features of Nepalese economy

5.1.2 Macroeconomic indicators of central government and seven state

5.2 Natural resources of Nepal

5.2.1 Water resources: importance, potentialities and current situation and problems

5.2.2 Forest resources: current situation, causes and consequences of deforestation

5.2.3 Mineral resources: importance and problems

5.2.4 Management of natural resources, climate change and its effect on economy

5.3 Agriculture

5.3.1 Characteristics of agriculture of Nepal

5.3.2 Remedies of modernization and commercialization of agriculture in Nepal.

5.3.3 Sources of agriculture finance in Nepal

5.3.4 Nature, problems and remedial measures of agricultural marking

5.4 Manufacturing and tourism industry in Nepal

5.4.1 Concept and types of industry

5.4.2 Brief history of industrial development of Nepal

5.4.3 Importance and problems of industrial sector of Nepal

5.4.4 Tourism industry: importance, current situation, prospect, problem and remedial measure

5.5 Transportation and communication

5.5.1 Role of transportation and communication and current status

5.5.2 Means of transportation and communication and current status

Chapter 6: Quantitative analysis for economics - 13 hour

6.1 Basic mathematics

6.1.1 Importance and use of mathematics in economics

6.1.2 Equation of straight line

6.1.3 Differential calculus: Simple and partial derivatives

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