Chapter One: Introduction to Macro Economics:
Short Note: Macro Economics: BBS Second Year Note
Answer in Both Medium: English and Nepali
Short and Easy to Understand and Read for the Exam
Question: Explain the Concept, Scope, limitations and Importance of Macro Economics. (10)
English Medium
Concept of Macro Economics
- Macro Economics is a branch of economics.
- Studies economic behaviour.
- It studies income, currency, price level, unemployment, economic growth rate,etc
Importance of Macro Economics
1. It is important to understand the functioning of the economy.
It is important to study how the economy works. The function of economy can be understood from the study of national income, total production, total savings, total investment etc.
2. The basis of economic policy making.
It helps the government to formulate economic policies such as poverty alleviation policy, job creation policy, inflation control policies.
3. Role in controlling economic fluctuations.
It provides information on various fluctuations in the economy such as inflation, measures to be taken to control the contraction.
4. Important to compare countries
It is studied to compare the national income, per-capita income, total investment, etc. of the countries.
5. Important in evaluating the economy
Macroeconomics studies the national income and evaluates the overall economy.
6. Role in the development of microeconomics.
7. To understand international trade.
8. Need to make business decisions.
(For Nepali Medium Students: )
Nepali Medium:
Question: Explain the Concept, Scope, limitations and Importance of Macro Economics. (10)
Questions are asked in English, so try to read English questions and understand the demand of the question and write in Nepali.
Question: Explain the Concept, Scope, limitations and Importance of Macro Economics. (10)
