GRADE 12 ECONOMICS

1.1.1 Scarcity and Choice
1.1.2 Concept of Opportunity Cost
1.1.3 Production Possibility Curve (PPC): Concept, Shape, and Shift
1.1.4 Concept of Allocation of Resources
1.1.5 Division of Labor and Specialization: Advantages and Disadvantages
1.1.6 Economic System: Types and Features

2.1 Market and Revenue Curves
• 2.1.1 Concept of Market: Perfect Competition Market, Imperfect Competition Market and its Types (Oligopoly, Monopoly, and Monopolistic Competition)
• 2.1.2 Concept of Total Revenue (TR), Average Revenue (AR), and Marginal Revenue (MR)
• 2.1.3 Derivation of AR and MR Curves from TR Curve under Perfect Competition Market and Monopoly Market
• 2.1.4 Simple Numerical Illustrations

2.2 Cost Curves
• 2.2.1 Concept of Explicit Cost, Implicit Cost, Fixed Cost, Variable Cost, Total Cost, Average Cost, and Marginal Cost
• 2.2.2 Short-run Costs and Derivation of Short-run Cost Curves
• 2.2.3 Simple Numerical Illustration

2.3 Theory of Price and Output Determination
• 2.3.1 Definition and Characteristics of Perfect Competition Market; Equilibrium Price and Output Determination of Firm and Industry in the Short-run and Long-run
• 2.3.2 Definition and Characteristics of Monopoly Market; Equilibrium Price and Output Determination
• 2.3.3 Simple Numerical Illustration

2.4 Factors Pricing
• 2.4.1 Concept of Factors Pricing
• 2.4.2 Rent: Concept of Economic Rent and Contract Rent, Ricardian Theory of Rent
• 2.4.3 Wage: Money Wage and Real Wage, Subsistence Theory of Wage, Wage Fund Theory of Wage
• 2.4.4 Interest: Gross Interest and Net Interest, Classical Theory of Interest
• 2.4.5 Profit: Gross Profit and Net Profit, Risk Bearing Theory of Profit, Uncertainty Bearing Theory of Profit
Includes Numerical Problems

3.1 Banking System and Monetary Policy
• 3.1.1 Role of Banking System in the Economy
• 3.1.2 Classification of Banks: Central Bank, Commercial Bank, Development Bank, Financial Institution, Microfinance
• 3.1.3 Functions of Central Bank in the Context of Nepal
• 3.1.4 Functions of Commercial Banks in the Context of Nepal
• 3.1.5 Concept of Capital Market and Money Market
• 3.1.6 Monetary Policy: Meaning and Types
• 3.1.7 Province-wise Distribution of Commercial and Development Banks in Nepal

3.2 Government Finance
• 3.2.1 Concept and Importance of Government Finance
• 3.2.2 Classification of Government Expenditure in the Context of Nepal
• 3.2.3 Concept of Direct and Indirect Taxes; Progressive, Proportional, and Regressive Taxation
• 3.2.4 Qualities of a Good Tax System
• 3.2.5 Government Revenue: Tax Revenue and Non-tax Revenue (Nepalese Context)
• 3.2.6 Government Borrowing: Concept of Internal and External Borrowing
• 3.2.7 Government Budget: Meaning and Phases of Budget Formulation (Nepalese Context)

3.3 International Trade
• 3.3.1 Concept and Importance of International Trade
• 3.3.2 Concept of Balance of Trade and Balance of Payment
• 3.3.3 Measures to Correct Deficit Balance of Trade in the Context of Nepal
• 3.3.4 Exchange Rate: Concept and Types
• 3.3.5 Free Trade and Protection Trade: Merits and Demerits
• 3.3.6 Comparative Cost Theory of International Trade

• 4.1 Concept of Poverty, Inequality, and Unemployment
• 4.2 Causes of Poverty and Inequality and Measures to Reduce Them
• 4.3 Types and Causes of Unemployment and Measures to Create Employment
• 4.4 Concept and Role of Human Resource
• 4.5 Concept of Human Development Indicators and Human Development Index
• 4.6 Current Status of Nepal's Population (Size, Composition, Distribution, and Growth)

5.1 Nepal's Foreign Trade and Foreign Employment
• 5.1.1 Concept of Nepal's Foreign Trade
• 5.1.2 Growth, Composition, Direction, and Problems of Nepalese Foreign Trade
• 5.1.3 Concept of WTO and SAFTA
• 5.1.4 Foreign Employment and Remittance: Current Status, Merits, and Demerits

5.2 Development Plan in Nepal
• 5.2.1 Concept of Development Planning
• 5.2.2 Objectives, Priorities, and Policies of Current Plan
• 5.2.3 General Evaluation of Previous Plans
• 5.2.4 Plan Formulation Process in Nepal

5.3 Sustainable Development Goals and Nepal
• 5.3.1 Concept of Sustainable Development Goals of United Nations: 17 Development Goals
• 5.3.2 Zero Poverty and Nepal
• 5.3.3 Zero Hunger and Nepal
• 5.3.4 Decent Work, Economic Growth, and Nepal
• 5.3.5 Quality Education and Nepal

• 6.1 Review of Basic Concept of Statistics: Definition, Scope, Importance, and Limitations
• 6.2 Data Collection: Methods of Primary Data Collection, Sources of Secondary Data
• 6.3 Deviations: Coefficient of Variation, Characteristics of Variance
• 6.4 Index Number: Price Index Number, Laspeyres's Index Number, Paasche's Index Number
Includes Statistical Calculations