Class 12 Economics

Concept of Scarcity and Choice Concepts of Allocation of Resources Basic Problems related to Allocation of Resources Opportunity Cost Production Possibility Curve (PPC) Division of Labour Specialization Types of Economy / Economic System

Unit 2.1: Market and Revenue Curves Concept of Market Classification of Market Concepts of Total, Average and Marginal Revenue Revenue Curves under Perfect Competition Market Revenues under Monopoly Market Unit 2.2: Cost Curves Basic Concept of Cost The Concepts of Total Cost, Marginal Cost and Average Cost Relation between MC, AVC, and AC The Long-Run Cost Curve Unit 2.3: Theory of Price and Output Determination Concept of Equilibrium Equilibrium of Firm: TR-TC and MR=MC Approaches Price and Output Determination under Perfect Competition Analysis of Equilibrium of Industry Analysis of Equilibrium of a Firm Long-Run Equilibrium of the Industry and Firm Monopoly Market Marginal Revenue=Marginal Cost (MR=MC) Approach Long Run Equilibrium of Firm under Monopoly Unit 2.4: Theory of Factor Pricing Basic Concept of Factors of Production Rent (Ricardian Theory of Rent) Wage Interest (Classical Theory of Interest) Profit (Risk Bearing Theory of Profits, Uncertainty Bearing Theory of Profits)

Unit 3.1: Banking System and Monetary Policy Concept, Meaning, Role/Importance of Bank Classification of Bank (Central Bank, Commercial Bank) Concepts of Money Market and Capital Market Monetary Policy: Meaning and Types Total Number of Commercial Banks and Development Banks in Nepal (Province wise) Unit 3.2: Government Finance Meaning, Difference between Government and Private Finance Importance or Role of Government Finance Government Expenditure Government Revenue Taxes (Types, Progressive, Proportional, Regressive, Canons of Taxation) Government Borrowing Government Budget Unit 3.3: International Trade Introduction, Role or Importance of International/Foreign Trade Concept of Balance of Trade (BOT) Concept of Balance of Payment (BOP) Measures to Reduce Trade Deficit in Nepal: Increasing Competitiveness Exchange Rate: Concept and Types Free Trade and Protectionism Comparative Cost Theory of International Trade

Concept of Poverty, Characteristics, Causes, Remedial Measures Concept of Inequality Unemployment, Remedies to Minimize Unemployment Human Resources (Meaning, Role/Importance, Human Development Index (HDI)) Current Population Status of Nepal Indicators of Human Development

Unit 5.1: Foreign Trade and Foreign Employment of Nepal Introduction, Role or Importance of International/Foreign Trade Nepal's Foreign Trade General Introduction to WTO and SAFTA Foreign Employment and Remittance in Nepal Unit 5.2: Development Planning in Nepal Concept of Development Planning General Evaluation of the Immediate Past Plan The Fifteenth Plan (Mid July 2019 – Mid July 2024) Unit 5.3: Sustainable Development Goals of United Nations and Nepal Sustainable Development Sustainable Development Goals of United Nations

Unit 6.1: Definition of Statistics Origin and Development, Definition, Importance and Scope, Functions, Limitations or Weaknesses Unit 6.2: Collection of Data Concept, Pre-Requisites, Types of Data, Methods of Collecting Primary Data, Sources of Secondary Data, Precautions, Techniques of Data Collection, Methods of Sampling, Use of Statistics in Economics Unit 6.3: Measures of Dispersion Concept, Essential Requisites, Types of Measures of Dispersion, Measures of Dispersion (Exercises) Unit 6.4: Index Number Meaning, Types of Index Number, Price Index Number, List of Formula (Exercises)