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Class 11 Economics Notes for New Course
Chapter 1: Basic Concept of Economics and Allocation of Resources
1.1 Meaning and definition of economicsa. Adam Smith’s definition of economics/ Wealth definition of economics
b. Alfred Marshall's definition of economics/ Material welfare definition of economics
c. Lionel Robbins’ definition of economics/ economics as a science of scarcity and choice
------- Similarities and Differences between Marshall's and Robbins Definition of Economics
------- The superiority of Robbins' definition over other definitions of economics
d. P.A. Samuelson's Definition of Economics or Growth/ Modern definition of economics
b. Alfred Marshall's definition of economics/ Material welfare definition of economics
c. Lionel Robbins’ definition of economics/ economics as a science of scarcity and choice
------- Similarities and Differences between Marshall's and Robbins Definition of Economics
------- The superiority of Robbins' definition over other definitions of economics
d. P.A. Samuelson's Definition of Economics or Growth/ Modern definition of economics
1.4 Microeconomics and Macroeconomics
------ Inter-dependence between micro and macroeconomics
------ Difference between micro and macroeconomics
------ Inter-dependence between micro and macroeconomics
------ Difference between micro and macroeconomics
1.6 Factors of production
a. Land, Feature/ Characteristics of land
b. Labour, Features/ Characteristics of labor
c. Capital, Features/ characteristics of capital.
------- Features of the market economy
2.2 Demand and Factors Affecting Demand
Chapter 2: Demand, Supply, and Market Equilibrium
2.1 Market economy------- Features of the market economy
2.2 Demand and Factors Affecting Demand
------- Types of Demand
------- Factors affecting Demand (Detail)
-------Difference between Desire and Demand
-------Law of Demand
-------Causes of Demand curve sloping downwards
-------Exceptions or Limitations of the law of demand
-------Demand Schedule, Demand curve, the Demand equation
-------Individual and Market demand curves
3.2 Elasticity of Demand
a. Price elasticity of demand
b. Income elasticity of demand
-------Difference between Desire and Demand
-------Law of Demand
-------Causes of Demand curve sloping downwards
-------Exceptions or Limitations of the law of demand
-------Demand Schedule, Demand curve, the Demand equation
-------Individual and Market demand curves
------- Causes of Shift in Demand Curve
------- Factors affecting Supply (Detail)
-------Law of supply
-------Exceptions / Limitations of Law of supply
-------Supply Schedule, Supply Curve and Supply equation
-------Individual and Market supply curves
-------Law of supply
-------Exceptions / Limitations of Law of supply
-------Supply Schedule, Supply Curve and Supply equation
-------Individual and Market supply curves
------- Causes of Shift in Supply Curve
-------Difference between Movement and Shift in Supply Curve
2.4 Interaction between Demand and Supply/ Equilibrium
2.4 Interaction between Demand and Supply/ Equilibrium
Chapter 3: Elasticity of Demand and Supply
3.1 Elasticity3.2 Elasticity of Demand
a. Price elasticity of demand
b. Income elasticity of demand
c. Cross elasticity of demand
d. Determinants or factors affecting the elasticity of demand
3.3 Elasticity of supply
d. Determinants or factors affecting the elasticity of demand
3.3 Elasticity of supply
Chapter 4: Consumer's Behavior
Concept and approach of utilityCardinal utility
Concept of total utility
Concept of Average Utility
Concept of marginal utility
Relationship Between Total Utility and Marginal Utility
Law of diminishing marginal utility
Law of substitution
Consumer’s surplus
Chapter 5: Theory of Production
Production FunctionTypes of the production function
Concept of total product (TP) Average product (AP) and Marginal Product (MP)
Relationship between AP and MP
Law of variable proportion
Isoquant
Isoquant map
Law of returns to scale using isoquant
Chapter 6: Introduction to Macroeconomics
Basic concepts of MacroeconomicsScope of macroeconomics
Macroeconomic variables
Closed and Open Economy
Differences between open and closed economy
Various Concepts of National Income
Nominal GDP and Real GDP
MEASUREMENT OF NATIONAL INCOME
DIFFICULTIES IN MEASUREMENT OF NATIONAL INCOME IN NEPAL
Closed and Open Economy
Differences between open and closed economy
Chapter 7: National Income Accounting
National income accountingVarious Concepts of National Income
Nominal GDP and Real GDP
MEASUREMENT OF NATIONAL INCOME
DIFFICULTIES IN MEASUREMENT OF NATIONAL INCOME IN NEPAL
Chapter 8: Money and Inflation
Barter systemOrigin of Money
Importance of Money
Functions of Money
Kinds of Money
Qualities/ Characteristics/ Features of good money
Concept of Money Supply: Narrow and Broad Money
The quantity theory of money (Fisher’s equation of money)
Inflation (Detail)
Deflation (Detail)
Chapter 9: Economic Development, Growth, and Capital Formation
Difference between Economic Development and Economic Growth
Important Facts of Nepalese Economy
Contemporary features of Nepalese Economy
Agriculture Marketing
----- Importance of Agriculture Marketing
----- Nature of Agriculture Marketing
----- Problems of Agriculture Marketing
----- Remedial measures of Agriculture Marketing
Manufacturing Industries in Nepal (Concept, history, types, importance, and problems)
Tourism Industry (Concept, types, importance, problems, current situation, prospects)
---- Role or Importance of Transportation in the economic development of Nepal
---- Means and Current situation of Transportation in Nepal
Communication
---- Role or Importance of Communication in the economic development of Nepal
---- Means and Current situation of Communication in Nepal
Problems and solutions for Transport and Communication problems in Nepal
Chapter 10: Overview of the Nepalese Economy
Geographical location and area of NepalImportant Facts of Nepalese Economy
Contemporary features of Nepalese Economy
Macroeconomic Indicators of Seven Provinces of Nepal
Chapter 11: Natural resources of Nepal
Meaning of Natural ResourcesClassification of Natural Resources
------ Role or Importance of Water resource
------ Uses or Prospects of Water resource
------ Potentiality of hydroelectricity
------ Current situation of Water resource
------ Uses or Prospects of Water resource
------ Potentiality of hydroelectricity
------ Current situation of Water resource
-------Problems of water resource development in Nepal
------ Importance of forest resource
------ Current situation of forest resource
------ Causes and Consequences of deforestation
------ Importance of forest resource
------ Current situation of forest resource
------ Causes and Consequences of deforestation
------ Current situation of Mineral resources in Nepal
------ Importance of Mineral resource
------ Problems of mineral resource development in Nepal
------ Concept and aspects of natural resource management
------ Climate Change and its aspectsCharacteristics of Nepalese Agriculture------ Importance of Mineral resource
------ Problems of mineral resource development in Nepal
------ Concept and aspects of natural resource management
Remedial measures of agriculture problems
Agriculture Finance
----- Importance of Agriculture Finance
----- Purpose of Finance
----- Period of Finance
----- Sources of Agricultural finance
Agriculture Finance
----- Importance of Agriculture Finance
----- Purpose of Finance
----- Period of Finance
----- Sources of Agricultural finance
----- Importance of Agriculture Marketing
----- Nature of Agriculture Marketing
----- Problems of Agriculture Marketing
----- Remedial measures of Agriculture Marketing
Chapter 13: Manufacturing and Tourism Industries in Nepal
Tourism Industry (Concept, types, importance, problems, current situation, prospects)
Chapter 14: Transportation and Communication
Transportation---- Role or Importance of Transportation in the economic development of Nepal
---- Means and Current situation of Transportation in Nepal
Communication
---- Role or Importance of Communication in the economic development of Nepal
---- Means and Current situation of Communication in Nepal
Mathematics Portion
Uses and importance of mathematics in economicsThis post includes the notes of class 11 economics as prescribed by NEB in Nepal. Students can refer these NEB class 11 economics notes for their study of +2 in management in Nepal. The notes are as per the new syllabus and new curriculum of NEB.
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