Macroeconomics for Business | Business Economics | Syllabus
Bachelor of Business Studies (BBS)
Programme objective
The objective of the BBS programme at the FOM is to develop students into competent managers for any sector of organized activity. The programme is based on the principle that graduates will spend a major portion of their life in a constantly changing environment. Therefore, the student should have an opportunity to obtain a broad knowledge of the concepts and reality based skills underlying the operation and management of organizations.
Upon graduation, students should be equipped to function as a manager in business, industry and government.
The graduate should also have a variety of career opportunities in different sectors of business including entrepreneurship and create much needed jobs for others.
The BBS programme specially attempts to:
1. Equip the students with the required conceptual knowledge of business and administration to develop a general management perspective in them.
2. Develop required attitudes, abilities and practical skill in students, which constitute a foundation for their growth into competent and responsible business managers.
3. Encourage entrepreneurial capabilities in students to make them effective change agents in the Nepalese society.
4. Develop necessary foundation for higher studies in management and thereafter take up careers in teaching, research and consultancy.
Curricular structure
The FOM recognizes the need for both breadth and depth in the total academic pattern.
Therefore, the curriculum for BBS degree comprises four separate and distinct course components:
1. A strong foundation allied areas of business such as language, economic analysis, legal environment and quantitative method to prepare graduates to understand, analyze and comprehend the management concepts, theories and practices.
2. Core business studies encompassing and integrating all functional areas to provide graduates with and appreciation of the diversity and inter-relationship of business and management issues.
3. The opportunity to concentrate in one area of specialization such as accounting, finance, human resources management and marketing in order to provide graduates with some degree of functional expertise.
The Second Year Programme
The purpose of the second year programme is to provide basic concepts, tools and understanding of the foundation and core courses.
The foundations courses are required to develop understand business practices.
The core courses provide essentials of learning which are basic in the broad area of business studies.
The second-year programme is therefore organized into the following core and compulsory courses:
Second Year (500)
MGT 205: Business Communication 100
MGT 209: Macroeconomics for Business 100
MGT 212: Cost and Management Accounting 100
MGT 223: Organizational Behavior & Human Resource Management 100
MGT 215: Fundamentals of Financial Management 100
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BBS Second year eBooks | Business Communication | Cost and Management Accounting | Organizational Behavior | Human Resource Management | Fundamentals of Financial Management
Macroeconomics for Business (MGT 209)
BBS Second Year Economics
Full Marks: 100
Pass Marks: 35
Lecture hours: 150
Course Objectives:
Macroeconomics for Business aims to enhance understanding of macroeconomic principles and Nepalese macroeconomic situation to the Bachelor level students. It will help to inculcate the skills incorporating different macroeconomic domain in assessment of nature of business environment.
Course Description:
This course of macroeconomics makes students skilled to understand macroeconomic concepts, theories and contemporary macroeconomic issues pertinent in Nepal. This course comprises an introduction to macroeconomics, national income accounting, the classical theory of employment, Keynesian macroeconomics, IS-LM model, inflation, business cycles, monetary theory and policy, government finance and fiscal policy, the global economy and contemporary issues in references to Nepal. Learning Outcomes: By the completion of the course students will be able to:
-Explain the nature of macroeconomics and macroeconomic variables; explain the concepts and difficulties of measuring national income and calculate the national income by product, income and expenditure methods.
-Derive consumption function, saving function, investment function, investment multiplier, government expenditure multiplier, tax multiplier, foreign trade multiplier, IS curve and LM curve and determine the equilibrium level of income and employment in Classical, Keynesian and IS-LM model.
-Describe the concepts and causes of inflation, deflation, stagflation and business cycles; assess their effect and identify the measures of reducing their consequences in business.
-Describe the concept and structure of financial market, monetary policy, government finance, fiscal policy and fiscal federalism, in reference of Nepal and explore the effect of change in monetary policy and fiscal policy in equilibrium level of national income.
· Explain the effect of global and regional economy in Nepalese economy in reference to exchange rate, balance of payments, foreign direct investment and foreign employment and explain contemporary macroeconomic issues in Nepalese perspective. Course Details:
Unit 1: Introduction to Macroeconomics LH 6
Macroeconomics: concepts, scope, uses and limitations;
Macroeconomic concepts: stock and flow variables; equilibrium and disequilibrium; static and dynamic equilibrium analysis.
Unit 2: National Income Accounting LH 20
Circular flow of income and expenditure in two sector, three sector and four sector economy;
Different concepts of national income: GDP, NDP, GNP and NNP at market price and factor cost, personal income (PI), disposable personal income (DI), per capita income (PCI); Real GDP, nominal GDP and GDP deflator;
Computation of national income: product method, income method and expenditure method;
Difficulties in the measurement of national income;
Numerical Exercise
Unit 3: Classical Theory of Employment LH 6
Unemployment: concept and types; Say’s law of market: concept, assumptions and implications;
Classical theory of employment: assumptions, components and criticisms.
Unit 4: Keynesian Macroeconomics LH 30
Principle of effective demand;
Consumption function: concepts, psychological law of consumption, technical attributes and determinants;
Saving function: concepts, technical attributes and determinants;
Paradox of thrift; Investment function: concept and types of investment, marginal efficiency of capital, investment demand curve and determinants of investment; Income and output determination in the two-sector economy;
Investment multiplier: concept, income generation process and leakages;
Income and output determination in three sector and four sector economy;
Derivation of government expenditure multiplier; tax multiplier and foreign trade multiplier;
Numerical Exercise
Unit 5: IS-LM Model of Income Determination LH 7
Derivation of IS curve and product market equilibrium;
Derivation of LM curve and money market equilibrium;
General equilibrium in the product market and the money market; and Shifts in IS and LM curves (change in monetary and fiscal policies) and effects on equilibrium.
Numerical Exercise
Unit 6: Inflation and Business Cycles LH 18
Inflation: concepts and types;
Measurement of inflation through consumer’s price index (CPI) and GDP deflator;
Demand-pull inflation and cost-push inflation;
Concept of core inflation; Effects of inflation;
Anti-inflationary measures; Inflation and unemployment: Phillips curve and stagflation;
Deflation: concept and causes;
Nature, causes and effect of inflation in Nepal;
Business cycles: concepts, characteristics and phases; and Measures to control business cycles;
Numerical Exercise
Unit 7: Monetary Theory LH 16
Money supply: concepts and determinants;
Money market and capital market: concepts and functions;
Structure of financial market in Nepal;
Monetary Policy: concepts, types, objectives and instruments;
Features of current monetary policy of Nepal;
Unit 8: Government Finance LH 15
Government budget: Concepts and components;
Deficit financing: concept, objectives and methods;
Sources of government revenue in Nepal, Government expenditure of Nepal;
Features of current government budget of Nepal;
Fiscal policy: concepts, types, instruments and objectives;
Fiscal federalism: concepts, components and Nepalese practice.
Unit 9: Global Economy LH 17
Global economy: concept and current trends;
Globalization: concepts, drivers, benefits and defects;
Regional integration and trading blocs: concepts and role;
Issues of Nepali foreign trade;
Exchange rate: concept and types;
Determination of equilibrium exchange rate under fixed and flexible exchange rate system;
Balance of payments: concept and BOP accounts;
Foreign direct investment: concepts, benefits, defects and current status of Nepal;
Foreign employment: benefits, defects and current status of Nepal.
Unit 10: Contemporary Macroeconomics Issues in Nepalese Perspectives LH 15
Macroeconomic indicators of Nepal;
Privatization and liberalization: concepts, benefits and defects;
Economic growth and development: concepts and components; Sources of economic growth;
Poverty: concepts, types, causes and remedies;
Economic inequality: concepts, causes and remedies;
Public private partnership: concepts, importance and Nepalese practice;
Financial inclusion: concepts, determinants and current Nepalese status.
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Accounting Equation |
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Journal Entries in Nepali |
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Journal Entries |
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Journal Entry and Ledger |
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Ledger |
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Subsidiary Book |
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Cashbook |
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Trial Balance and Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Financial Accounting and Analysis (All videos) |
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Accounting Process |
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Accounting for Long Lived Assets |
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Analysis of Financial Statement |
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Model Question
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