Tilak Mahara

उडान शैक्षिक के न्द्र - Udaan Shaikshik Kendra

Bagbazar, kathmandu
Contact: 01-5918042, 9864298042, 9749466516, 9809428970
Concept of Economics/Microeconomics and Macroeconomics

Contents
 Origin of economics
 Definitions of economics
 Fundamentals of Microeconomics
 Fundamentals of Macroeconomics

The Origin/Foundation
The term ‘Economics’ has been derived from the Greek word ‘Oeconomicus’, which means
management of the household. So, economics means household management or management
of household affairs. Household management refers to managing the unlimited wants of the
family members within the limited income of the family.

'अर्थशास्त्र' शब्द ग्रीक शब्द 'Oeconomicus' बाट आएको हो, जसको अर्थ घरपररवारको व्यवस्र्ापन हो। तसर्थ, अर्थशास्त्र भनेको घरे लु
व्यवस्र्ापन वा घरायसी माममलाहरूको व्यवस्र्ापन हो । घरपररवार व्यवस्र्ापन भन्नाले पररवारको सीममत आम्दानीमा पररवारका सदस्यहरूको
असीममत आवश्यकताहरू व्यवस्र्ापन गनथु हो ।

The systematic study of Economics was started by the Greek philosopher Aristotle in 400 B.C.
However, he confined the study of economics up to household management, acquiring and
making proper use of wealth. अर्थशास्त्रको व्यवमस्र्त अध्ययन ग्रीक दाशथमनक एररस्टोटलले 400 ईसा पवू थमा सरुु गरे का मर्ए। तर,
उनले अर्थशास्त्रको अध्ययनलाई घरायसी व्यवस्र्ापन, सम्पमि आजथन र त्यसको सही सदपु योगमा मात्र सीममत राखे ।

Economics in the middle age (before the origin of early modern Europe) came as part of moral
science/philosophy. मध्य यगु मा अर्थशास्त्र (प्रारमम्भक आधुमनक यरु ोपको उत्पमि अमघ) नैमतक मवज्ञान/दशथनको भागको रूपमा आयो।

During mercantilism, economics believed that money was wealth, and the accumulation of gold
and silver was the key to prosperity. It means, that if one country had more gold than others, it
was necessarily better off. Thus, according to them, accumulating gold and silver was the key
to success. ममिकवादको समयमा अर्थशास्त्रले पैसालाई धन हो र सनु र चााँदीको सञ्चय नै समृमिको कुञ्जी हो भन्ने मवश्वास गदथथ्यो। त्यसकारि
जनु देशसाँग बढी सनु , चादी मर्यो, उक्त्ि देशलाई अरुभन्दा राम्रो मामनन्थ्यो। यसरी, सो समय अनसु ार, सनु र चााँदी जम्मा गनथु सफलताको कुञ्जी
मामनन्थ्यो ।

The Economists of the 18th century developed economics as a new social science. With the
publication of the famous book “An Inquiry into the Nature and Causes of Wealth of
Nations” by Adam Smith in 1776, economics got its space as an independent and developed
discipline. Therefore, as an honor, Adam Smith is known as the Father of Economics. Before
him, economics was considered part of other social sciences, part of ethics, and part of political
science. 18 औ ं शताब्दीका अर्थशास्त्रीहरूले अर्थशास्त्रलाई नयााँ सामामजक मवज्ञानको रूपमा मवकास गरे । सन् १७७६ मा एडम मस्मर्को प्रमसि
पस्ु तक “An Inquiry into the Nature and Causes of Wealth of Nations” प्रकामशत भएपमि अर्थशास्त्रले स्वतन्त्र र
मवकमसत अनश ु ासनको रूपमा आफ्नो ठाउाँ पायो। त्यसैले, सम्मानको रूपमा, एडम मस्मर्लाई अर्थशास्त्रको मपता भनेर मचमनन्ि। उहााँभन्दा पमहले
अर्थशास्त्रलाई अन्य सामामजक मवज्ञानको अंश, नैमतकतशास्त्रको अंश, राजनीमतशास्त्रको अंश मामनन्थ्यो ।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
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Timeline of Development of Modern Economics/ आधुमनक अर्थशास्त्र मवकासको समयरे खा

Classical Period (1776 A.D. – 1890 A.D.)/ शास्त्रीय काल (1776 - 1890)

 It is the first modern school of economic thought.

 The leader of this school of thought is Adam Smith and other important followers are
J.B. Say, J.S. Mill, Malthus, David Ricardo, F.A. Walker, etc.
 The classical school of economic thought considered economics as the science of
wealth.
 यो आमर्थक मवचारधाराको पमहलो आधमु नक स्कूल हो।
 यस मवचारधाराको नेता एडम मस्मर् हुन् र अन्य महत्त्वपिू थ अनयु ायीहरू जेबी से, जे.एस. ममल, माल्र्स, डेमभड ररकाडो, एफए वाकर,
आमद हुन।्
 आमर्थक मवचारको शास्त्रीय स्कुलले अर्थशास्त्रलाई धनको मवज्ञान मानेको ि।

Neo-classical Period (1890 A.D. – 1932 A.D.)/ नव-शास्त्रीय काल (1890 - 1932)

 This period is the most fertile period of economics as many new theories were
developed, redefined, and reformulated during this period.
 The leader of this school of thought is Afraid Marshal and other followers are A.C.
Pigou, Fisher, Carl Menger, Edwin Cannan, etc.
 They extended the matter of economics from wealth accumulation to welfare and
satisfaction.
 यो अवमध अर्थशास्त्रको सबैभन्दा उवथर अवमध हो मकनभने यस अवमधमा धेरै नयााँ मसिान्तहरू मवकमसत, पनु : पररभामित र सधु ार गररएको
मर्यो।
 यस मवचारधाराको नेता अल्रे ड माशथल हुन र उनका अनयु ायीहरू A.C. Pigou, Fisher, Karl Menger, Edwin
Cannan, आमद हुन।्
 उनीहरूले अर्थशास्त्रको मवियलाई धन सङ्कलनबाट कल्याि र सन्तुमिसम्म मवस्तार गरे ।

Modern Period (1932 A.D. - onward)/ आधमु नक काल (1932 - अगामड)

 The era of the 20th century in the history of economics is known as the modern period.
 This is the time in which many economic theories have been contributing scientifically.
The famous economists of this school of thought are Lionel Robbins, John Maynard
Keynes, Paul Samuelson, etc.
 This school of thought changes the focus of the study of economics from the welfare
approach to the study of scarcity and choice.
 अर्थशास्त्रको इमतहासमा २० औ ं शताब्दीको यगु लाई आधमु नक यगु भमनन्ि।
 यो समय अवमध पश्चात आमर्थक मसिान्तहरूको वैज्ञामनक मवकास र वैज्ञामनक मवश्लेिि सरुु भएको मामनन्ि ।
 यस मवचारधाराका प्रमसि अर्थशास्त्रीहरू मलयोनेल रोमबन्स, जोन मेनाडथ मकन्स, पल स्यामुएलसन आमद हुन।्
 यो मवचारधाराले अर्थशास्त्रको अध्ययनको फोकसलाई कल्यािकारी दृमिकोिबाट अभाव र िनोटको अध्ययनमा पररवतथन गरे को ि ।

Definition of Economics
 Economics is a dynamic social science, and its definition has been changing concerning
time and era of thoughts of economists/ अर्थशास्त्र एक गमतशील सामामजक मवज्ञान हो र यसको पररभािा समय र
अर्थशास्त्रीहरूको मवचारको यगु संगै पररवतथन हुदाँ ै आएको ि।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
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 Economists differ in their definitions of economics from each other. Thus, there is no
singular widely accepted definition of economics/ अर्थशास्त्रीहरू अर्थशास्त्रलाइ पररभामित गने सवालमा
एकमत भएको देमखदैन। तसर्थ, अर्थशास्त्रको कुनै एकल व्यापक रूपमा स्वीकृ त पररभािा िै न।
 Jacob Viner says that “what an economist does is economics”.
 Barbara Wootton also says, 'Where there are six economists, there are seven opinions'
 Economists at different times have emphasized different aspects of economic activities
and have arrived at different definitions of economics. The overall definitions of
economics can be viewed through the following three perspectives/ अर्थशास्त्रीहरूले मवमभन्न
समयमा आमर्थक गमतमवमधका मवमभन्न पक्षहरूलाई जोड मदएका िन् र सोमहअनस्ु सर अर्थशास्त्रको मवमभन्न पररभािाहरू मवकास भएका
िन। अर्थशास्त्रको समग्र पररभािालाई मनम्न तीन दृमिकोिबाट हेनथ समकन्ि.

Three Definitions of Economics

School of Economic Lead Economist Time Name of the
Thoughts Definition of
Economics
Classical Adam Smith 1776-1890 Wealth/classical
Neoclassical Alfred Marshall 1890-1932 Welfare/neoclassical
Modern Lionel Robbins 1932 onwards Modern/scarcity and
choice

Wealth /Classical/Adam Smith’s Definition of Economics

The definition of economics in terms of wealth was given by Adam Smith (1723-1790) a citizen
of Scotland, in 1776 A.D. in his famous book “An Enquiry into the Nature and Causes of
Wealth of Nations”. धनको सन्दभथमा अर्थशास्त्रको पररभािा स्कटल्याण्डका नागररक एडम मस्मर् (१७२३-१७९०) ले १७७६ मा आफ्नो
प्रमसि पस्ु तक "An Enquiry into the Nature and Causes of Wealth of Nation" मा मदएका मर्ए।

By publishing this book, Smith separated economics from other social sciences and defined
economics for the first time. So, he is popularly known as the Father of Economics as well as
the leader of the Classical Economic School of Thought. यो पस्ु तक प्रकामशत गरे र, मस्मर्ले अर्थशास्त्रलाई अन्य
सामामजक मवज्ञानहरूबाट अलग गरे का मर्ए र अर्थशास्त्रलाई िुट्टै सामामजक मवज्ञानका रुपमा पमहलो पटक पररभामित गरे का मर्ए। त्यसैले, एडम
मस्मर्लाई अर्थशास्त्रका मपताको रूपमा मचमनन्ि।

According to Adam Smith, “Economics is the science of wealth”. एडम मस्मर्का अनसु ार "अर्थशास्त्र भनेको
धनको मवज्ञान हो"।

The meaning of wealth as used by Adam Smith refers to an abundance of money. Economics
then becomes a subject that teaches about ways and means of increasing the wealth of nations.
एडम मस्मर्ले प्रयोग गरे को धनको अर्थले धनको (पैसाको) प्रशस्ततालाई जनाउाँि। त्यसपमि अर्थशास्त्र राष्ट्रहरूको धन बढाउने तररका र माध्यमहरू
मसकाउने मबियको रुपमा मचमनदै आएको पाइन्ि।

Thus, according to this definition, economics is the study of people's activities related to the
accumulation of more and more wealth. तसर्थ, यस पररभािा अनसु ार, अर्थशास्त्र भनेको अमधक भन्दा अमधक धन संचय गने
संग सम्बमन्धत आमर्थक मानवका गमतमवमधहरु को अध्ययन हो।

Some other economists like J.B Say, F.A Walker, J.S Mills, and others also declared economics
as a science of wealth.

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
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जेबी से, एफए वाकर, जेएस ममल्स र अरू के ही अर्थशास्त्रीहरूले पमन अर्थशास्त्रलाई धनको मवज्ञानको रूपमा घोििा गरे को पाइन्ि।

Characteristics of Classical Definition

Meaning of wealth/ धनको अर्थ: According to this definition, wealth includes only material goods.
Material goods are those goods, which are tangible, and visible such as pens, books, pencils,
gold, etc. The non-material goods like teachers' services, doctor’s services, etc. have been
excluded from the wealth definition of economics. यस पररभािा अनसु ार धनमा भौमतक वस्तहु रू मात्र समावेश हुन्िन।्
भौमतक वस्तु भन्नाले देख्न समकने वस्तु जस्तै कलम, मकताब, पेमन्सल, सनु लगायतका वस्तुहरू हुन।् मशक्षक सेवा, मचमकत्सकको सेवा आमदलाई
अर्थशास्त्रको धनको पररभािाबाट बामहर रामखएको ि।

The study of wealth/ धनको अध्ययन: The definition of economics given by Adam Smith assumed
that Economics deals only with the study of wealth. Therefore, it is related to the wealth-
earning economic activities of a man like production, consumption, exchange, and distribution.
एडम मस्मर्ले मदएको अर्थशास्त्रको पररभािाले अर्थशास्त्रले धनको अध्ययनलाई मात्र बुझाउाँ ि। तसर्थ, यो उत्पादन, उपभोग, मवमनमय र मवतरि जस्ता
मामनसको धन-आजथनसंग सम्बमन्धत आमर्थक गमतमवमधको अध्ययन हो।

The secondary place to mankind/ मानव कल्याि लाइ दोस्रो स्र्ान: The wealth definition of Adam Smith
has given the priority to wealth and the second to mankind. He assumed that mankind is for
wealth, but wealth cannot be for mankind. Classical economists believe that the economic
prosperity of any nation depends only on the accumulation of wealth. एडम मस्मर्को पररभािाले धन
आजथनलाइ पमहलो प्रार्ममकता र मानव कल्याि लाइ दोस्रो प्रार्ममकता मदएको ि। मामनस धनको लामग हो तर धन मामनसका लामग हुन सक्त्दनै
भन्ने उनको मान्यता मर्यो । उनीहरुका अनसु ार कुनै पमन राष्ट्रको आमर्थक समृमि के वल धन सचं यमा मनभथर गदथि।

Study of economic man/ आमर्थक मामनसको अध्ययन: Adam Smith claimed that economics studies the
behavior of only those people who have the only objective of earning more and more wealth at
any cost and by any means. A human being of such nature is called ‘Economic Man’ and his
main objective is to accumulate more and more wealth/ यस पररभािा अनसु ार अर्थशास्त्रले के वल ती व्यमिहरूको
व्यवहारको अध्ययन गदथि जसको एकमात्र उद्देश्य कुनै पमन मल्ू य र कुनै पमन माध्यमबाट अमधक र अमधक धन कमाउने ि। यस्तो प्रकृ मतको मामनसलाई
‘आमर्थक मामनस’ भमनन्ि र उसको मख्ु य उद्देश्य बढीभन्दा बढी धनसम्पमि जम्मा गनथु हो

Source of wealth/ धनको स्रोत: This definition assumed that wages earned by labors are the only
source of income or wealth of the nations. Adam Smith has suggested that active labors can
earn a high amount of wages through the division of labor/ यो पररभािाले श्रममकले कमाएको ज्याला नै राष्ट्रको
आय वा धनको एक मात्र स्रोत हो भनी मानेको ि । एडम मस्मर्ले सझु ाव मदएका िन् मक समिय श्रममकहरूले श्रम मवभाजनको माध्यमबाट धेरै
ज्याला कमाउन सक्त्िन।्

Criticisms of Classical Definition

This view of economics as a science of wealth was criticized by Carlyle, Ruskin, Marshal, and
other economists of the 19th Century. They criticized the wealth definition on the following
grounds. अर्थशास्त्रको यो दृमिकोिलाई कालाथइल, रमस्कन, माशथल र 19 औ ं शताब्दीका अन्य अर्थशास्त्रीहरूले आलोचना गरे का मर्ए।

Too much importance on wealth: The wealth definition has given primary concern to wealth
by undermining the value of human beings. The real fact is that the human being is more
important than wealth, and in this definition, human welfare is missing.
Meaning of wealth: According to this definition, wealth includes only material goods. But
wealth can be accumulated through non-material services also.

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
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The narrow meaning of wealth: Wealth definition limits the definition of the word ‘wealth’
only up to material goods like vehicles, industries, raw materials, etc. It didn’t include the
contribution of services of teachers, doctors, lawyers, etc. in modern economics the word
‘wealth’ includes both services and material goods.
Single source of wealth: Wages earned by laborers are only one source of wealth of the nations
as per the wealth definition. But the critics pointed out that natural resources, human resources,
capital resources, and physical resources are the source of wealth of the nations.
Unrealistic concept of economic man: Wealth definition assumes of economic man and which
is almost rare to found in real life. People may get more satisfaction from feeling like love,
respect, self-esteem, sympathy, cooperation, friendship, trust, etc. which might provide greater
satisfaction than wealth in life. So, the pure economic man cannot be found in real life.
The limited subject matter of economics: The subject matter of economics is not only limited
to wealth. Its subject matter is nowadays covering the study of human welfare and the
betterment of societies.

Welfare/Neo-classical/Marshallian Definition of Economics/ अर्थशास्त्रको कल्यािकारी/नव-शास्त्रीय/

मासथलको पररभािा

The welfare definition of economics was given by the leader of the Neo-classical school of
economic thought, Alfred Marshall (1842-1924). He was a renowned British scholar and
Professor of Economics at Cambridge University. He published the book “Principle of
Economics” in 1890 A.D. and defined economics in terms of material welfare. He gave, ‘Man’
the first place and ‘Wealth’ as secondary and clarified that wealth is for man and man is not for
wealth. According to this definition, Wealth is not the ‘End’, it is only a ‘Means’ to attain
welfare/ अर्थशास्त्रको कल्यािकारी पररभािा आमर्थक मवचारको नव-शास्त्रीय स्कुलका नेता अल्रे ड मासथल (1842-1924) द्वारा मदइएको
मर्यो। उहााँ एक प्रमसि मिमटश मवद्वान र क्त्यामम्िज मवश्वमवद्यालयमा अर्थशास्त्रका प्राध्यापक हुनहु ुन्थ्यो। उनले सन् १८९० मा "अर्थशास्त्रको मसिान्त"
नामक पस्ु तक प्रकामशत गरे र भौमतक कल्यािको सन्दभथमा अर्थशास्त्रलाई पररभामित गरे । उनले ‘मामनस’लाई पमहलो स्र्ान र ‘धन’लाई दोस्रो स्र्ान
मदाँदै धन मामनसको लामग हो र मामनस धनको लामग होइन भन्ने स्पि पारे । यस पररभािाका अनुसार धन भनेको ‘अन्त्य’ होइन, कल्याि प्राप्त गने
‘साधन’ मात्र हो।

Under this definition economics is the study of human activities related to the attainment of
income for material welfare in the ordinary course of business. So, Economics studies wealth,
on one hand, and on the other hand, it studies the man and the happiness of man and this part
is more important than wealth. अर्थशास्त्र भनेको साधारि ब्यबसामयक जीवनमा भौमतक कल्यािको लामग आम्दानीको प्रामप्तसाँग
सम्बमन्धत मानव गमतमवमधहरूको अध्ययन हो। त्यसकारि अर्थशास्त्रले एकामतर धनको अध्ययन गिथ भने अकोमतर मामनस र मामनसको खसु ीको
बारे मा अध्ययन गिथ र यो भाग धनभन्दा पमन महत्वपिू थ हुन्ि ।

According to this definition, economics is the science of human activities instead of the science
of wealth यस पररभािा अनसु ार अर्थशास्त्र भनेको धनको मवज्ञानको सट्टा मानव गमतमवमधहरूको मवज्ञान हो।

Prof. Marshall stated "Economics is the study of humans, in relation to the ordinary business
of life. It studies that portion of the personal and social activities, which are closely related to
the attainment of material resources, related to welfare and its utilization.” मासथलाका अनसु ार अर्थशास्त्र
मामनसले साधारि व्यवसामयक जीवनमा गने व्यमिगत तर्ा सामामजक गमतमवमधहरूको त्यस्तो भाग जनु भैमतक कल्यािका साधन प्रामप्त गनथ र उपभोग
गनथ साँग सम्बमन्धत ि।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
 Tilak Mahara

The Marshallian definition has been supported by his follower's economists like A.C. Pigou,
Cannon, Beveridge, etc. मासथलाको पररभािालाई उनका अनयु ायी अर्थशास्त्रीहरू जस्तै A.C. Pigou, Cannon,
Beveridge, आमदले समर्थन गरे का िन।्

Features/मवशेिताहरु

मानव कल्यािलाई प्रर्ाममकता/Priority to Mankind: यस पररभािाले अर्थशास्त्र भनेको एकामतर धनको अध्ययन हो भने अकोतफथ र
अझ महत्त्वपिू थ कुरा यो मानवीय पक्षको अध्ययन हो भनी उल्लेख गरे को ि। This definition has stated that economics is,
on one hand, is the study of wealth, and on the other hand and more importantly it is the study
of the human aspect.

Material Welfare/ भौमतक कल्याि: According to this definition, the main concern of activities of
the ordinary business life of human beings is material welfare. The welfare or satisfaction that
is obtained from the consumption of physical goods or material goods is called material
welfare. Thus, it excludes the satisfaction obtained from non-material goods or services. Under
this definition, economics thus studies those material resources, on which welfare depends. यस
पररभािा अनुसार मामनसको सामान्य व्यापाररक जीवनको गमतमवमधको मख्ु य चासो भौमतक कल्याि हो। भौमतक वस्तु वा भौमतक वस्तुको उपभोगबाट
प्राप्त हुने कल्याि वा सन्तुमिलाई भौमतक कल्याि भमनन्ि। यसरी यसले गैर-भौमतक वस्तु वा सेवाहरूबाट प्राप्त सन्तुमिलाई समावेश गदैन। यस
पररभािा अन्तगथत, अर्थशास्त्रले ती भौमतक स्रोतहरूको अध्ययन गदथि, जसमा कल्याि मनभथर हुन्ि।

Study of Social, Normal, and Real Persons/ सामामजक, सामान्य र वास्तमवक व्यमिहरूको अध्ययन: According
to Marshall, economics studies only social, normal, and real persons. The study of persons
living outside the society or in forests, who are unusual, alone, and abnormal, is not done in it.
The activities of unusual persons like – an insane, a miser, a saint or Mahatma, etc. are said to
be outside the area of the Subject Matter of economics. According to Marshall, it studies the
economic activities of only the social, normal, and real persons. माशथलका अनसु ार अर्थशास्त्रले सामामजक,
सामान्य र वास्तमवक व्यमिहरूलाई मात्र अध्ययन गिथ । समाजबामहर वा जंगलमा बसोबास गने असामान्य, र एक्त्लो व्यमिहरूको अध्ययन यसमा
गररएको िै न। पागल, कंजसू , सतं वा महात्मा, आमद जस्तै असामान्य व्यमिहरु को गमतमवमधहरु अर्थशास्त्र को मवियवस्तु को क्षेत्र बामहर रहन्िन।

Social Science/ सामामजक मवज्ञान: According to Alfred Marshall, economics studies those human
beings who live in society. It does not include isolated persons not belonging to a society such
as beggars, saints, monks, etc. As economics studies the economic behavior of the people living
in a society, it is thus called social science. अल्रे ड मासथलका अनुसार अर्थशास्त्रले समाजमा बस्ने मामनसहरुको मात्र अध्ययन
गिथ । यसले मभखारी, सन्त, मभक्षु आमद जस्ता समाजमा नपरे का पृर्क व्यमिहरूलाई समावेश गदैन। अर्थशास्त्रले समाजमा बस्ने मामनसहरूको
आमर्थक व्यवहारको अध्ययन गने भएकाले यसलाई सामामजक मवज्ञान भमनन्ि।

Normative science/ आदशथवादी मवज्ञान: According to Marshall economics teaches or deals with how
to have greater material welfare for man. It gives the idea of making higher human welfare and
studies how material welfare could be achieved for well-being. So, it is a normative science.
अर्थशास्त्रले मामनसको भौमतक कल्याि कसरी गने र कसरी बढाउने भनेर अध्ययन गिथ । यसले उच्च मानव कल्याि गने आधारहरु बारे पमन अध्ययन
गदथि। त्यसैल,े यो एक आदशथवादी मवज्ञान हो।

Criticisms/ आलोचनाहरू

Professor Lionel Robbins and other modern economists criticized Marshall’s definition of
economics on the following ground. प्रोफे सर मलयोनेल रोमबन्स र अन्य आधमु नक अर्थशास्त्रीहरूले मनम्न आधारमा माशथलको
अर्थशास्त्रको पररभािाको आलोचना गरे ।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
 Tilak Mahara

Undue focus on immaterial things and Illogical Classification/अभौमतक चीजहरूमा अनमु चत के न्रीकरि र
अतामकथ क वगीकरिमा: Marshall considered only material things. But immaterial things, such as the
services of a doctor, a teacher, and so on, also promote the welfare of the people. So, Robbins
rejected Marshall’s definition as being classificatory and illogical. यस पररभािामा भौमतक चीजहरू ,मात्र
समाबेस गररन्िन। तर डाक्त्टर, मशक्षक, आमद जस्ता अभौमतक सेवाजन्य गमतमवमधहरुले पमन जनताको कल्यािलाई बढावा मदन्ि। त्यसकारि,
रोमबन्सले माशथलको पररभािालाई वगीकरिात्मक र अतामकथ क ठहर गरे रे अस्वीकार गरे का मर्ए।

Narrow definition/ सक ं ीिथ पररभािा: According to Robbins, the use of the term material and
discussion of material welfare is only a part of economics. To define economics in terms of
these classifications is a narrow concept. रमबन्सका अनसु ार भैमतक शब्दको प्रयोग र भौमतक कल्यािको चचाथ अर्थशास्त्रको
एउटा अंश मात्र हो र यसकै आधारमा अर्थशास्त्रलाई पररभामित गनथु एक संकीिथ अवधारिा हो।

The weak connection between economics and welfare/ अर्थशास्त्र र कल्याि बीचको कमजोर सम्बन्ध: The
Marshallian definition tried to establish the connection between economics and welfare.
However, economics does study different activities not ensuring welfare like the production of
wine, cigarettes, etc. as their income is included in national income. यस पररभािाले अर्थशास्त्र र कल्याि
बीचको सम्बन्ध स्र्ामपत गनथ खोजेको ि। तर, अर्थशास्त्रले ममदरा, चरु ोट आमदको उत्पादन रामष्ट्रय आयमा समावेश गरे र मानव कल्याि नहुने मवमभन्न
गमतमवमधहरूको अध्ययन गिथ ।

Welfare cannot be measured/ कल्याि मापन गनथ समकाँ दैन: The term material welfare is a subjective
phenomenon, and it varies from man to man, place to place, and time to time. It cannot be
precisely measured. कल्याि शब्द एक व्यमिपरक सब्द हो, र यो मामनस, ठाउाँ र समय अनुसार फरक हुन्ि। त्यसकारि यसलाई ठ्याक्त्कै
मापन गनथ समकाँ दैन।

Exclude human science/ मानव मवज्ञान को बेवास्र्ा: According to Alfred Marshall, economics studies
the behavior of those human beings who are living in society. But the critics of this definition
argued that economics should study total human beings whether they have actively participated
in social functions or are isolated from society. यो पररभािा अनसु ार अर्थशास्त्रले समाजमा बस्ने मामनसको व्यवहारको
अध्ययन गिथ । तर आलोचकहरूका अनसु ार अर्थशास्त्रले समग्र मानव जामतको अध्ययन गनथपु िथ । त्यसकारि यस पररभािाले मानवीय मबज्ञान लाइ
बेवास्ता गरे को ि।

Modern/Scarcity/Robbins Definition of Economics/अर्थशास्त्रको आधमु नक/रोमबन्स पररभािा

This definition of economics was given by Lionel Robbins (1898-1984), a British citizen and
a Professor of Economics at the London School of Economics (1929-1961). अर्थशास्त्रको यो पररभािा
बेलायती नागररक र लन्डन स्कूल अफ इकोनोममक्त्स (१९२९-१९६१) मा अर्थशास्त्रका प्राध्यापक मलयोनेल रोमबन्स (१८९८-१९८४) ले मदएका
मर्ए।

He provided new concern to economics through his book "An Essay on the Nature and
Significance of Economics” in 1932. उनले सन् १९३२ मा आफ्नो पस्ु तक "An Essay on the Nature and
Significance of Economics” माफथ त अर्थशास्त्रको अध्ययनमा नयााँ दायरा प्रदान गरे । Robbins asserts that economics
is concerned with the problem arising from the scarcity of resources. So, economics is the
science that studies human behavior as a relationship between unlimited ends and scarce means
which have alternative uses. रोमबन्सका अनसु ार अर्थशास्त्र स्रोतको अभावबाट उत्पन्न हुने समस्यासाँग सम्बमन्धत रहेको मबिय हो।
त्यसकारि अर्थशास्त्र असीममत माग र वैकमल्पक प्रयोग भएका दल
ु थभ साधनहरू बीच मानव व्यवहारलाई अध्ययन गने मवज्ञान हो।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
 Tilak Mahara

This definition has been supported by many economists like Stigler, Peter, etc. यो पररभािा धेरै
अर्थशास्त्रीहरू जस्तै, Carl Manger, Stigler, Peter, Scitovosky आमद द्वारा सममर्थत ि।

Characteristics/मवशेिताहरु

Unlimited ends(wants) असीममत माग (चाहना): This definition believes that human wants are
unlimited and never be fulfilled. When one wants is satisfied another want emerged
immediately. When the elementary wants like food, clothing, and shelter are satisfied, wants
for comfort and luxuries harvest. Thus, the cycle of human wants can never be fulfilled during
one’s lifetime. यो पररभािाले मवश्वास गिथ मक मानव चाहनाहरू असीममत िन् र कमहल्यै परू ा हुदाँ ैनन।् एउटा चाहना परू ा भएपमि अको
चाहना तरुु न्तै देखापिथ । जब प्रार्ममक आवश्यकताहरू जस्तै खाना, कपडा र आश्रय सन्तिु हुन्िन,् आराम र मवलामसताको लामग चाहन्िन।् तसर्थ,
मामनसको जीवनकालमा चाहनाहरूको चि कमहल्यै परू ा हुन सक्त्दैन।

Scarce means/ दल ु थभ स्रोत तर्ा साधनहरु: Means refer to resources. The resources available to satisfy
unlimited human wants are always in limited amount or scarce. Scarcity refers to the situation
of not being able to fulfill unlimited demand because of having limited resources. If the
resources or things are available in abundance like free goods, economic problems will not
emerge. Thus, economics helps to manage scarcity skilfully. असीममत मानव आवश्यकताहरू परू ा गनथ उपलब्ध
स्रोतहरू सधैं सीममत मात्रामा वा दल ु थभ हुन्िन।् त्यसकारि यसले अभाव पैदा गदथि। अभाव भन्नाले सीममत स्रोतसाधन भएकाले असीममत माग परू ा
गनथ नसक्त्ने अवस्र्ालाई जनाउाँि। अर्थशास्त्रले अभावलाई कुशलतापवू थक व्यवस्र्ापन गनथ मद्दत गदथि।

Alternative use of resources/ स्रोत साधनको वैकमल्पक उपयोग: Resources are available in a limited
quantity and yet human wants have no limits. The available resources can be used in different
alternatives or put into different ways. Setting the right priorities can be used for uses of scarce
means. For example, a liter of milk is a means. It can be used for preparing 10 cups of tea or
butter or curd or cheese or to feed a baby, etc., but not all at a time. स्रोतहरू सीममत मात्रामा उपलब्ध िन् तर
मानव चाहनाको कुनै सीमा रहदैन। उपलब्ध स्रोतहरू मवमभन्न मवकल्पहरूमा प्रयोग गनथ समकन्ि वा मवमभन्न तररकामा राख्न समकन्ि। सही
प्रार्ममकताहरू सेमटङ दल
ु थभ साधनहरूको प्रयोगको लामग प्रयोग गनथ समकन्ि। उदाहरि को लागी, एक मलटर दधू एक माध्यम हो। यो १० कप मचया
वा मक्त्खन वा दही वा चीज तयार गनथ वा बच्चालाई खवु ाउन प्रयोग गनथ समकन्ि, तर सबै एक पटकमा सम्भब हुदैन।

Wants to differ in urgency/ अमतआबश्यकता मा माग फरक हुन्ि: Human wants are not equally important,
and they get importance regarding time. It means human wants to differ in urgency. Some
wants are more urgent than the other ones and people satisfied them accordingly. For example,
medicines are more important than cosmetics for a sick girl. मामनसका चाहनाहरू समयको सन्दभथमा महत्त्वपिू थ
हुन्िन।् यसको मतलब कमतपय चाहनाहरू अरूभन्दा धेरै जरुरी हुन्िन् र मामनसहरूले त्यसैअनसु ार सन्तमु स्ट प्राप्त गनथ खोमजरहेका हुन्िन। उदाहरिका
लामग, मबरामी के टीको लामग कस्मेमटक्त्स भन्दा औिमधहरू महत्त्वपिू थ िन।्

Science of choice/ िनोटको मवज्ञान: When the features of human life, namely unlimited wants, scarce
means, and alternative uses are kept together, there arises the problem of choice. One must
choose which wants to be satisfied first and by what means. So, according to Robbins, the
problem of choice is the economic problem that forms the subject matter of economics.
Therefore, it can be said that economics is a science, which helps us solve such problems of
choice. जब मानव जीवनका असीममत चाहना, दल ु थभ साधन र वैकमल्पक उपयोगहरू एकसार् रामखन्िन,् तब िनोटको समस्या उत्पन्न हुन्ि।
पमहले र कुन माध्यमबाट सन्तुि हुन चाहन्ि भन्ने िनौट गनथपु दथि। त्यसैल,े रोमबन्सका अनसु ार िनोटको समस्या भनेको आमर्थक समस्या हो जसले
अर्थशास्त्रको मवियवस्तु बनाउाँि। त्यसैले यो भन्न समकन्ि मक अर्थशास्त्र मवज्ञान हो, जसले हामीलाई िनौटका यस्ता समस्याहरू समाधान गनथ मद्दत
गदथि।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
 Tilak Mahara

Criticisms
 Neglects burning issues of the modern economy
 Hidden concept of welfare (आण्तिू ी अमधकतम पानथु भनेको कल्याि गनथु हो)
 Self-contradictory (मवरोधाभासी: positive science vs focus of utility maximization)
 Economics is not only a positive science
 Incomplete in the sense that sometimes richness/abundance, excess production,
managerial diseconomies/weaknesses may create a problem not only scarcity
Comparison between Marshall’s and Robbin’s Definition

Similarities between Marshall’s and Robbin’s Definition/ समानताहरू

The subject matter of definition/ पररभािाको मवियवस्तु: Both definitions have cantered their focus on
the study of humans and wealth. Both have given more focus on humans than wealth. दवु ै पररभािाले
मामनस र धनको अध्ययनमा आफ्नो ध्यान के मन्रत गरे को ि। दवु ैले धनभन्दा पमन मामनसमा बढी ध्यान मदएका िन् ।

Optimization अनुकूलन: Both definitions focus on optimization. It means both definitions aim at
the best possible situation within a given resource condition. In Marshall's definition, it is the
maximization of material welfare and in Robbin's definition, it is the maximization of
satisfaction. दबु ै पररभािाहरू अनक
ु ू लनमा के मन्रत िन।् यसको मतलब दबु ै पररभािाहरूले मदइएको स्रोत मभत्रको उिम सम्भामवत अवस्र्ालाई
लमक्षत गदथिन। माशथलको पररभािामा, भौमतक कल्यािको अमधकतमीकरि के न्रमबन्दु हो भने रमबन्सको पररभािामा, सन्तमु िको अमधकतमीकरि
के न्रमबन्दु हो।

Basic Pilers/ आधारभूत स्तम्भ: Major economic activities like consumption, production, exchange,
etc. are major pillars of both definitions. उपभोग, उत्पादन, मवमनमय, आमद जस्ता प्रमख
ु आमर्थक गमतमवमधहरू दवु ै पररभािाका
प्रमख
ु स्तम्भहरू हुन।्

Economics as a science मवज्ञानको रूपमा अर्थशास्त्र: Both definitions have analyzed economics as a
science. दवु ै पररभािाहरूले अर्थशास्त्रलाई मवज्ञानको रूपमा मवश्लेिि गरे का िन।्

The common assumption of rational human behavior/ तकथ संगत मानव व्यवहारको साझा धारिा: Both
definitions have assumed the rationality of human beings in terms of economic behavior. दवु ै
पररभािाले आमर्थक व्यवहारको सन्दभथमा मानव जामतको तकथ संगततालाई ग्रहि गरे को ि।

Why Robbin's definition is superior to other definitions of economics? मकन रोमबनको पररभािा
अर्थशास्त्रका अन्य पररभािाहरू भन्दा उच्च ि?

 It is not classificatory यो वगीकरि/मबभाज्य िै न

 It applies in all forms of economies / यो अर्थतन्त्रका सबै रूपहरूमा लागू हुन्ि
 It tries to turn economics into the form of positive science by stating economics as a
positive science and studying the actual problems of human life. यसले मानव जीवनका वास्तमवक
समस्याहरूको अध्ययन गरी अर्थशास्त्रलाई वास्तमवक मवज्ञानको रूपमा व्याख्या गने प्रयास गदथि।
 It guides all the economic participants to optimize their goals by utilizing limited
resources having alternative uses. यसले सबै आमर्थक सहभागीहरूलाई वैकमल्पक उपयोग भएका सीममत स्रोतहरू
प्रयोग गरे र आफ्ना लक्ष्यहरू अनक
ु ू लन गनथ मागथदशथन गदथि।

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 It motivates all the economic agents to make rational decisions in the state of the
scarcity of resources. यसले सबै आमर्थक एजेन्टहरूलाई स्रोतको अभावको अवस्र्ामा तकथ सगं त मनिथय गनथ उत्प्रेररत गदथि।
 This definition has included all human beings not only individuals living in a society.
So, it is concerned with human science rather than social science. यो पररभािाले समाजमा बस्ने
व्यमि मात्र नभई सबै मामनसलाई समेटेको ि। त्यसैल,े यो सामामजक मवज्ञान भन्दा मानव मवज्ञान संग सम्बमन्धत ि।
 It has widened the scope of economics. According to this definition, economics is
applied wherever scarcity occurs. यसले अर्थशास्त्रको दायरा फरामकलो बनाएको ि । यस पररभािा अनसु ार जहााँ
अभाव हुन्ि त्यहााँ अर्थशास्त्र लागू हुन्ि।
 It is the universally accepted definition as the problems of scarcity and choice are faced
by all the countries of the world. अभाव र िनोटको समस्या संसारका सबै देशहरूले सामना गने भएकाले यो मवश्वव्यापी
रूपमा स्वीकृ त पररभािा हो।

Subject Matter of Economics

The subject matter of economics deals with the area covered by the study of economics. The
subject matter of economic study can be examined on three bases as explained below.

Based on Definition of Economics/ अर्थशास्त्रको पररभािामा आधाररत

 Economics as a science of wealth, studies about wealth and accumulation of wealth/

धनको मवज्ञानको रूपमा अर्थशास्त्रले धनको र धनको संचय बारे मा अध्ययन
 Economics as social science, studies about the attainment of material welfare / सामामजक
मवज्ञानको रूपमा अर्थशास्त्रले भौमतक कल्यािको प्रामप्तको बारे मा अध्ययन
 Economics as a human science studies human behavior in the state of scarcity and
choice. / मानव मवज्ञानको रूपमा अर्थशास्त्रले अभाव र िनौटको अवस्र्ामा मानव व्यवहारको अध्ययन गदथि।

The subject matter based on economic activities/based on the traditional approach आमर्थक
गमतमवमधको आधारमा / परम्परागत दृमिकोिको आधारमा मवियवस्तु

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According to this view, the subject matter of economics is to study the continuous economic
circle of wants-efforts-satisfaction. यस दृमिकोि अनुसार अर्थशास्त्रको मवियवस्तु भनेको चाहना-प्रयास-सन्तुमिको मनरन्तर
आमर्थक चिको अध्ययन गनथु हो।

As human wants are boundless, they are every time making efforts to get satisfaction. They are
once satisfied that won’t remain forever. So, they keep on making effort in every step of their
life. It is a continuous process and known as a continuous economic circle of wants-efforts-
satisfaction. This chain of the economic circle gives birth to the following economic activities.
मामनसका चाहनाहरू अमसममत भएकाले सन्तुमि पाउनका लामग हरे क पल प्रयासरत हुन्िन।् चाहनाहरु एक पटक सन्तुि हुन्िन् जनु सधैंभरर रहाँदैन।
तसर्थ, मामनसहरु आफ्नो जीवनको हरे क पाइलामा प्रयास गरररहन्िन।् चाहना परु ा गनथ प्रयास गरररहदा चाहना-प्रयास-सन्तुमिको मनरन्त चिचमलरहने
र सो बेला गररने मबमभन्न आमर्थक मियाकलापहरुले अर्थशास्त्रको मवियबस्तुलाई जन्म मदन्ि। यसन्तगथत मनम्न आमर्थक गमतमवमधहरु पदथिन।

Consumption/ उपभोग: Consumption means using goods and services for the satisfaction of
wants. It is related to the study of how consumers are obtaining the maximum level of
satisfaction, how they are demanding etc. उपभोग भनेको सन्तुमि प्रामप्तको लामग वस्तु र सेवाहरू प्रयोग गनथु हो। यस अन्तरगत
उपभोिाहरूले कसरी अमधकतम स्तरको सन्तमु ि प्राप्त गदैिन,् उनीहरूले कसरी माग गरररहेका िन् आमदको अध्ययन गररन्ि।

Production/ उत्पादन: It is the process of creating a utility for the consumers or the production of
goods and services for satisfying human wants. Economics studies different factors of
production like labor, capital, land, organization, and their contribution to the production
process. यो उपभोिाहरूको लामग उपयोमगता मसजथना गने प्रमिया हो वा मानव आवश्यकताहरू परू ा गनथ वस्तु र सेवाहरूको उत्पादन गने प्रमिया
हो। अर्थशास्त्रले उत्पादनका मवमभन्न साधनहरू जस्तै श्रम, पाँजू ी, भमू म, संगठन, र उत्पादन प्रमियामा उनीहरूको योगदानको अध्ययन गदथि।

Exchange/ मवमनमय: The process of selling and purchase of goods and services in the market is
called an exchange. Or it is the process of determining the prices of products produced. Under
this, economics studies the price determination of products under various market structures like
perfect competition, imperfect competition, and their functioning. बजारमा वस्तु तर्ा सेवाको खररद मबिी
गने प्रमियालाई मवमनमय भमनन्ि। वा यो उत्पामदत वस्तुहरूको मल्ू य मनधाथरि गने प्रमिया हो। यस अन्तगथत अर्थशास्त्रले पिू थ प्रमतस्पधाथ, अपिू थ
प्रमतस्पधाथ, र मतनीहरूको कायथप्रिाली जस्ता मवमभन्न बजार संरचनाहरू अन्तगथत उत्पादनहरूको मल्ू य मनधाथरि अध्ययन गदथि।

Distribution/ मवतरि: To produce a product different factors of production are needed and after
contributing to the production process they get their part of the reward from the producers.
How national income is distributed among various factors of production is called distribution.
Under this, various theories relating to factor pricing are studied. For example, theories of rent,
profit, wages, and interest. कुनै वस्तु उत्पादन गनथ उत्पादनका मवमभन्न साधनहरू आवश्यक हुन्िन् र उत्पादन प्रमियामा योगदान
गरे पमि उनीहरूले उत्पादकहरूबाट आफ्नो अंश प्राप्त गिथ न।् रामष्ट्रय आयलाई उत्पादनका मवमभन्न साधनहरु बीच कसरी बााँडफााँड गररन्ि त्यसलाई
मवतरि भमनन्ि। यस अन्तगथत, साधनको मल्ू य मनधाथरि सम्बन्धी मवमभन्न मसिान्तहरू अध्ययन गररन्ि। उदाहरिका लामग, भाडा, नाफा, ज्याला र
ब्याजको मसिान्तहरू।

Public finance/ सावथजमनक मवि: It deals with the revenue and expenditure of the government. Public
finance is the area of economics that deals with the financing of government expenditure
programs. Under this, government income, government expenditure, source of borrowing,
fiscal policies, etc. are studied. यसले सरकारको राजस्व र व्ययसाँग सम्बमन्धत ि। सावथजमनक मवि भनेको अर्थशास्त्रको एक क्षेत्र
हो जनु सरकारी खचथ कायथिमहरूको मविपोििसाँग सम्बमन्धत ि। यसअन्तगथत सरकारी आम्दानी, सरकारी खचथ, ऋिको श्रोत, मविीय नीमत आमदको
अध्ययन हुन्ि ।

The subject matter based on the modern approach/ आधुमनक दृमिकोिको आधारमा मवियवस्तु

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In modern times especially after the 1930s economic theories are divided into different
branches. For the complete study of economic theories, the entire subject matter of economics
is divided into two most important branches namely microeconomics and macroeconomics.
Thus, the study of Economics under the modern approach is divided into two parts.
 Price Theory or Microeconomics and,
 Income Theory or Macro-economic

आधमु नक समयमा मवशेि गरी 1930 पमि आमर्थक मसिान्तहरू मवमभन्न शाखाहरूमा मवभामजत गरीए। आमर्थक मसिान्तहरूको पिू थ अध्ययनका
लामग अर्थशास्त्रको सम्पिू थ मवियलाई सक्ष्ू मअर्थशास्त्र र बृहत् अर्थशास्त्र गरी दईु वटा महत्त्वपिू थ शाखाहरूमा मवभाजन गररएको ि। यसरी, आधमु नक
दृमिकोि अन्तगथत अर्थशास्त्रको अध्ययनलाई दईु भागमा मवभाजन गरर अध्ययन गररन्ि।

 मल्ू य मसिान्त वा सक्ष्ू म अर्थशास्त्र र,

 आय मसिान्त वा बृहत अर्थशास्त्र

Meaning, Features, Scope, Uses and Limitations of Microeconomics

Meaning of Microeconomics
The term ‘micro’ is derived from the Greek word ‘Mikro’ which refers to ‘small’. Thus,
microeconomics deals with the analysis of the economic behavior of small and individual units
of the economy, such as individual consumers, individual firms, and small groups of individual
units like particular industries and markets. 'माइिो' शब्द ग्रीक भािाको शब्द 'Mikro' बाट आएको हो। ग्रीक भािा
अनसु सार Mikro शब्दले 'small' लाई जनाउाँि। त्यसकारि सक्ष्ू मअर्थशास्त्रले अर्थतन्त्रका साना र व्यमिगत एकाइहरू जस्तै व्यमिगत
उपभोिाहरू, व्यमिगत फमथहरू, साना समहू हरूको मवशेि उद्योगहरू र बजारहरू जस्ता व्यमिगत एकाइहरूको आमर्थक व्यवहारको मवश्ले ििसाँग
गदथि।

Microeconomics is the study of one particular unit rather than all the units combined. Thus,
microeconomics consists of looking at the economy through a microscope, to see how the
millions of cells in the economy play their part in the working of the whole economic
organization. अर्थतन्त्रका सबै एकाइहरू सयं ि ु रुपमा अध्ययन गनथक ु ो सट्टा एक मवशेि एकाइको गहन र बृहत अध्ययन गनथु नै
माइिोइकोनोममक्त्स हो। यसमा एउटा उपभोिा, उत्पादक तर्ा कुनैपमन आमर्थक एजेन्टहरुले व्यमिगत तहमा कसरर आमर्थक श्रोत साधनको पररचालन
र मवतरि गरररहेका िन् र कसरर पररचालन गररनपु दथि भन्ने बारे मा अध्ययन गररन्ि।

Features of Microeconomics/ सूक्ष्म अर्थशास्त्र को मवशेिताहरु

 Microeconomics is concerned with the small parts of the economy.

 It studies individual firms and consumers.
 It studies the economy in a disaggregated manner.
 Microeconomics assumes the existence of full employment in the total economy.
 Its objective is to analyze the process by which scarce resources are allocated among
alternative uses.
 Microeconomics analyses economic phenomena under the ceteris paribus assumption.
Therefore, microeconomics is a method of partial equilibrium analysis.
 Its important variables are individual prices, demand, supply, income, etc.
 It is applicable in a capitalist economy where the price mechanism plays an important
role.

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 Microeconomics studies the pricing of goods and services and factors of production so
it is also known as price theory.
 The major analysis of microeconomics is marginal utility analysis
 सक्ष्ू मअर्थशास्त्र अर्थतन्त्रका साना भागहरूसाँग सम्बमन्धत ि।
 यसले व्यमिगत फमथहरू र उपभोिाहरूको अध्ययन गदथि।
 यसले अर्थतन्त्रलाई अलग-अलग रूपमा अध्ययन गिथ ।
 सक्ष्ू मअर्थशास्त्रले अर्थतन्त्रमा पिू थ रोजगारीको मान्यता राख्दि।
 यसको उद्देश्य वैकमल्पक प्रयोग भएका दल
ु थभ स्रोतहरू कसरर बाडफाड गररन्ि भन्ने बारे मवश्लेिि गनथु हो।
 सक्ष्ू मअर्थशास्त्रले ceteris paribus/अन्य कुरा यर्ावत रहेमा भन्ने मान्यता अन्तगथत आमर्थक घटनाहरू/सम्बन्धहरुको मवश्लेिि गदथि।
तसर्थ, सक्ष्ू म अर्थशास्त्र आमं शक सन्तल
ु न मवश्लेििको मवमध हो।
 यसको महत्त्वपिू थ चरहरू व्यमिगत मल्ू य, माग, आपमू तथ, आय, आमद हुन।्
 यो पाँजु ीवादी अर्थतन्त्रमा लागू हुन्ि जहााँ मल्ू य संयन्त्रले महत्त्वपिू थ भमू मका खेल्ि।
 सक्ष्ू मअर्थशास्त्रले वस्तु तर्ा सेवा र उत्पादनका साधनहरुको मल्ू य मनधाथरि बारे अध्ययन गदथि त्यसैले यसलाई मल्ू य मसिान्त पमन भमनन्ि।
 सक्ष्ू म अर्थशास्त्रको प्रमख
ु मवश्लेिि सीमान्त उपयोमगता मवश्लेिि हो।
Which definition of microeconomics is the best one?
There are different definitions of microeconomics given by different economists and the
common matter of almost all the definitions is that microeconomics refers to the study of
economic behaviors of very small and individual units of an entire economy. Thus, first
microeconomics divides the entire economy into several small parts and then studies each part
separately and in a detailed manner.
While considering several definitions of microeconomics, the definition given by the American
economist Kenneth Ewart Boulding can be considered the best and most representative
definition of all the other definitions of microeconomics.
According to him, Microeconomics is the study of particular firms, particular households,
individual prices, wages, incomes, individual industries, and particular commodities.
Why is this definition considered the best?
 Because it takes about all the economic activities related to a particular business firm
or producer. So, it studies all the essences of how a producer is making decisions like
what to produce, how to produce, how much to produce, for whom to produce, etc.
 This definition also talks about how households are performing their economic
activities concerning scarce resources. It means microeconomics studies how
consumers are deciding about their choices among available alternatives, deciding
about quantity to buy, how much to consume, how much to save, and so on.
 Likewise, it also talks about how an individual business firm is deciding about the
pricing of the production, pricing of the factors of production, and volume of
profitability/income from the business.
 It also studies individual industries which are collections of small firms producing
homogeneous products. Different market structures like perfect competition and
imperfect competition are studied in microeconomics where the concept of firms and

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industries are used. So, how individual industries are deciding about the level of
production, exchange and distribution are studied in microeconomics.
In this way, this definition can be considered as an excellent definition of microeconomics as
it has succeeded in presenting the overall economic activities of the small and individual
economic units within the economy.
सूक्ष्म अर्थशास्त्र को पररभािा
मवमभन्न अर्थशास्त्रीहरूले सक्ष्ू मअर्थशास्त्रको मवमभन्न पररभािाहरू मदएका िन् र प्रायः सबै पररभािाहरूको सार सक्ष्ू म अर्थशास्त्र भनेको सम्पिू थ
अर्थतन्त्रको साना र व्यमिगत एकाइहरूको आमर्थक व्यवहारको अध्ययन गनथु हो भन्ने जनाउाँि। यसरी, पमहला सक्ष्ू म अर्थशास्त्रले सम्पिू थ अर्थतन्त्रलाई
साना भागहरूमा मवभाजन गदथि र त्यसपमि प्रत्येक भागलाई िुट्टै र मवस्तृत रूपमा अध्ययन गदथि।

सक्ष्ू मअर्थशास्त्रका धेरै पररभािाहरू मवचार गदाथ, अमेररकी अर्थशास्त्री के नेर् इवाटथ बोमल्डङले मदएको पररभािालाई सक्ष्ू मअर्थशास्त्रका अन्य सबै
पररभािाहरूमध्ये उत्कृ ि र सबैभन्दा प्रमतमनमध पररभािा मान्न समकन्ि।

उनका अनुसार सूक्ष्मअर्थशास्त्र भनेको मनमश्चत फमथ, मनमश्चत घरपररवार, व्यमिगत मूल्य, ज्याला, आम्दानी, व्यमिगत उद्योगका सार्ै मनमश्चत वस्तुको
अध्ययन हो।

यो पररभािा मकन उिम मामनन्ि?

 मकनभने यसले सक्ष्ू म अर्थशास्त्रमा मनमश्चत फमथ वा उत्पादकसाँग सम्बमन्धत सबै आमर्थक गमतमवमधहरू को अध्ययन गररन्ि भन्ने कुरा
उल्लेख गरे को ि। त्यसकारि, उत्पादकले के उत्पादन गने, कसरी उत्पादन गने, कमत उत्पादन गने, कसको लामग उत्पादन गने, आमद
जस्ता मनिथयहरू कसरी मलइरहेको ि भन्ने सबै सारहरू अध्ययन सक्ष्ू म अर्थशास्त्रमा गररन्ि भन्ने कुरा उल्लेख गरे को ि ।
 यस पररभािाले दल ु थभ स्रोतहरूको सम्बन्धमा घरपररवारहरूले कसरी आफ्नो आमर्थक गमतमवमधहरू प्रदशथन गरररहेका िन् भन्ने बारे पमन
कुरा गिथ । यसको अर्थ माइिोइकोनोममक्त्सले कसरी उपभोिाहरूले उपलब्ध मवकल्पहरू बीचमा आफ्नो िनोटको बारे मा मनिथय गदैिन्,
कसरर मकन्ने मात्रा, कमत उपभोग गने, कमत बचत गने आमद जस्ता मनिथयहरु मलदैिन भन्ने कुराहरू अध्ययन गदथि।
 त्यसैगरी, यसले उत्पादनको मल्ू य मनधाथरि, उत्पादनका साधनहरूको मल्ू य मनधाथरि, र व्यापारबाट हुने नाफा/आयको मात्राको बारे मा
कसरी व्यमिगत फमथले मनिथय गरररहेको ि भनेर पमन कुरा गदथि।
 यसले व्यमिगत उद्योगहरूको पमन अध्ययन गदथि । पिू थ प्रमतस्पधाथ र अपिू थ प्रमतस्पधाथ जस्ता मवमभन्न बजार सरं चनाहरू सक्ष्ू म अर्थशास्त्रमा
अध्ययन गररन्ि जहााँ फमथहरू र उद्योगहरूको अवधारिा प्रयोग हुन्ि। त्यसकारि, कसरी व्यमिगत उद्योगहरूले उत्पादनको स्तर, मवमनमय
र मवतरिको बारे मा मनिथय गदैिन् सूक्ष्म अर्थशास्त्रमा अध्ययन गररन्ि।
यसरर हेदाथ यो पररभािा अर्थतन्त्र मभत्रका ससाना आमर्थक एकाइहरुका सम्पिू थ आमर्थक गमतमवमधहरु लाइ समग्र रुपमा प्रस्तुत गनथ सफल भएकाले यस
पररभािालाई उत्कृ स्ट पररभािाको रुपमा मलन समकन्ि।

Scope/Subject Matter of Microeconomics

 Theory of demand/consumer’s choice
 Theory of production and cost
 Theory of product pricing
 Theory of factor pricing
 Optimum allocation of resources
 Theory of economic welfare [study of work efficiency in all the sectors of economic
activities like consumption, production, exchange distribution, etc.]

Theory of Demand / Theory of Consumer Choice/ मागको मसिान्त/उपभोिाको िनोटको मसिान्त: Under this,
principles related to how consumers demand goods and services, what affects their demand,
and how they can purchase goods and services to maximize their satisfaction with their limited

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resources, such as the law of demand, the law of diminishing marginal utility, the law of
maximum utility, etc, are studied. यस अन्तरगत उपभोिाहरुले कसरर बस्तु तर्ा सेवाको माग गदथिन, के के कुराले उनीहरुको
मागलाई असर गदथि, र आफुसंग भएको मसममत स्रोत लाइ कसरर आफ्नो सन्तुस्टी अमधकतम हुने गरर बस्तु तर्ा सेवा खररद गनथ सक्त्िन संग
सम्बमन्धत मबमभन्न मसद्दान्तहरु जस्तै मागको मनयम, मसमान्त उपयोगीतालो ह्रास मनयम , अमधकतम उपयोमगताको मनयम आमद को अध्ययन गररन्ि।

The theory of production and cost/ उत्पादन तर्ा लागतको मसद्दान्त : It covers production principles related
to how a firm can maximize the production of goods and services in the short and long term
using limited means of production. It also includes studies on various concepts of cost, least-
cost combination while producing goods and services, etc. कुनै एउटा फमथले कसरी उत्पादनका मसममत साधनहरु
उपयोग गरे र अल्पकालमा र दीघथकालमा बस्तु तर्ा सेवाको अमधकतम उत्पादन गनथ सक्त्दि संग सम्बमन्धत उत्पादनका मसद्दान्तहरु यसमा पदथिन।्
त्यसैगरी लागतका मबमभन्न अवधारिाहरु, न्यनु लागत सयोंग आमद बारे को अध्ययन पमन यसमा पदथि।

Importance of Microeconomics
 It provides the basis for economic policy formulation (tax policy, subsidy policy, trade
policy, etc)
 It helps to understand the working of an economy
 It helps to allocate available scarce resources in the efficient ways
 It helps to observe different market structures and the necessity of government
regulation
 It helps to study human economic behavior
 It also guides on making international trade beneficial
 It helps business firms to make rational decisions (to utilize resources optimally, to
analyze and forecast demand, to analyze cost conditions, to guide optimal production
decisions, and pricing of the product)
 It also helps to set the condition of maximum welfare and then observe whether such
conditions are fulfilled or not/measurement of welfare
 सक्ष्ू म अर्थशास्त्र को महत्व
 यसले आमर्थक नीमत मनमाथिको लामग आधार प्रदान गदथि (कर नीमत, अनदु ान नीमत, व्यापार नीमत, आमद)
 यसले अर्थतन्त्रको समग्र कायथ प्रन्नाली बुझ्न मद्दत गिथ
 यसले उपलब्ध दल
ु थभ स्रोतहरूलाई प्रभावकारी तररकामा बााँडफााँड गनथ मद्दत गिथ
 यसले मवमभन्न बजार संरचनाहरूको अवस्र्ा पमहचान गराउदै सरकारी मनयमनको आवश्यकतालाई अवलोकन गनथ मद्दत गदथि
 यसले मानव आमर्थक व्यवहार अध्ययन गनथ मद्दत गदथि
 यसले अन्तराथमष्ट्रय व्यापारलाई फाइदाजनक बनाउन पमन मागथदशथन गदथि
 यसले व्यापाररक फमथहरूलाई तकथ सगं त मनिथयहरू गनथ मद्दत गदथि (स्रोतहरूको इितम उपयोग गनथ, माग मवश्लेिि र मागको पवू ाथनमु ान
गनथ, लागत अवस्र्ाहरूको मवश्लेिि गनथ, इितम उत्पादन मनिथय मागथदशथन गनथ, उत्पादनको मल्ू य मनधाथरि गनथ)
 यसले अमधकतम कल्यािको सतथ सेट गनथ र त्यस्ता सतथहरू परू ा भए वा भएनन/् कल्यािको मापन गनथ पमन मद्दत गदथि।

Types of Microeconomics
Based on time consideration, microeconomics can be divided into three types as
1. Micro static analysis
2. Comparative micro static analysis
3. Microdynamics

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Limitations of Microeconomics/ सूक्ष्म अर्थशास्त्र का सीमाहरु

The wrong assumption of full employment/ पूिथ रोजगारीको गलत धारिा: Wrong assumptions like the
assumption of full employment included by microeconomics make it away from addressing
real-life problems as in real-life there is nothing like full employment of the resources.
माइिोइकोनोममक्त्सले समावेश गरे को पूिथ रोजगारीको धारिा जस्ता गलत धारिाहरूले यसलाई वास्तमवक जीवनका समस्याहरूलाई सम्बोधन गनथबाट
टाढा बनाउाँदि मकनमक वास्तमवक जीवनमा स्रोतहरूको पिू थ रोजगारी जस्तो के ही हुदाँ ैन।

Microeconomics is a static analysis as it assumes other things remain the same/ माइिोइकोनोममक्त्स
एक मस्र्र मवश्लेिि हो मकनमक यसले अन्य चीजहरू उस्तै रहन्ि भनी मान्दि।
The conclusions drawn from microeconomic theories may be wrong from macroeconomic
perspectives/सक्ष्ू म आमर्थक मसिान्तहरूबाट मनकामलएका मनष्ट्किथहरू सममि आमर्थक दृमिकोिबाट गलत हुन सक्त्िन्

It has limited scope/ यसको सीममत दायरा ि

It ignores the role of government /यसले सरकारको भमू मकालाई बेवास्ता गिथ

Meaning of Macroeconomics
Macroeconomics is derived from the Greek word 'makros', meaning large. Thus,
Macroeconomics examines the behaviour of the whole economy. म्यािोइकोनोममक्त्स ग्रीक शब्द 'makros'
बाट आएको हो, जसको अर्थ ठूलो अर्वा बृहत भन्ने हुन्ि। यस अर्थमा , म्यािोइकोनोममक्त्सले सम्पिू थ अर्थतन्त्रको व्यवहारको बारे मा चासो मचन्तन
गदथि ।

The branch of economics that studies aggregate units of the economy is called
macroeconomics. This means macroeconomics is that branch of economics that studies the
aggregate and larger variables of the economy such as national income, price level,
unemployment, investment, total demand, total supply, economic growth, economic
development, etc. Therefore, macroeconomics includes the measurement of values of different
macroeconomic variables, their rate of change, and the cause of change. अर्थतन्त्रका समग्र एकाइहरुको
बारे मा अध्ययन गने अर्थशास्त्रको शाखालाई बृहत अर्थशास्त्र भमनन्ि। अर्थतन्त्रका समग्र चरहरु जस्तै रामस्रय आय, मूल्य स्तर, बेरोजगारी, लगानी,
कुल माग, कुल आपमू तथ, आमर्थक बृद्दी, आमर्थक मवकास आमदको बारे मा अध्ययन गने अर्थशास्त्रको शाखा नै बृहत अर्शास्त्र हो। त्यसकारि बृहत
अर्थशास्त्रले बृहत आमर्थक चरहरुको मापन, मानमा हुने पररवतथनको दर र पररवतथनको कारि बारे पमन अध्ययन गदथि।

Main Concern of Macroeconomics/ बृहत् अर्थशास्त्रको मुख्य चासो

Macroeconomics is focused on the overall structure and performance of the national or global
economy. It is concerned with the analysis of aggregates. Thus, the major concern of
macroeconomics is to study about trend and structure of an overall economy by the analysis of
economy-wide variables like total production, total employment, total consumption, aggregate
investment, the rate of inflation, the rate of economic growth, international trade, FDI, etc. बृहत
अर्थशास्त्र रामष्ट्रय वा मवश्वव्यापी अर्थतन्त्रको समग्र संरचना र कायथसम्पादनबारे को अध्ययनमा के मन्रत हुन्ि। यो समग्रताको मवश्लेिि संग सम्बमन्धत
ि। तसर्थ, कुल उत्पादन, कुल रोजगारी, कुल उपभोग, कुल लगानी, मरु ास्फीमतको दर, आमर्थक वृमि दर,अन्तराथमष्ट्रय व्यापार, एफडीआई, आमद
जस्ता अर्थतन्त्रका समस्टीगत चरहरूको मवश्लेिि गरी समग्र अर्थतन्त्रको प्रवृमि र संरचनाबारे अध्ययन गनथु सममि अर्थशास्त्रको प्रमख ु चासो हो।
In the words of K.E. Boulding, "Macroeconomics deals not with individual quantity as such,
but with aggregates of these quantities, not with individual incomes but with the national

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income; not with individual prices but with price level, not with individual output but with
national output."
What is clear from this definition is that macroeconomics is a comprehensive study of the
functioning and efficiency of the overall economy. This is a general equilibrium analysis as it
covers the overall aspects of the economy. It means macroeconomics is a general equilibrium
analysis as it studies the interdependence of the markets-commodity market, labor market,
bond market, and money market.

In the words of K.E. Boulding, बृहत् अर्थशास्त्र व्यमिगत एकाइसाँग होइन, समग्र एकाइसाँग, व्यमिगत आम्दानीसाँग होइन, रामष्ट्रय
आम्दानीसाँग, व्यमिगत मल्ू यसाँग होइन, मल्ू य स्तरसाँग, व्यमिगत उत्पादनसाँग होइन, रामष्ट्रय उत्पादनसाँग सम्बमन्धत ि। यस पररभािाबाट के प्रस्ट
हुन्ि भने बृहत अर्थशास्त्र भनेको समग्र अर्थतन्त्रको कायथव्यवहार र कायथकुशलताको बृहत अध्ययन हो। यसले अर्थतन्त्रका समग्र पक्षहरुलाई समेटेर
अध्ययन गने भएकाले यो एक सामान्य सन्तुलन मवश्लेिि हो। यसको मतलब बृहत अर्थशास्त्रले मबमभन्न बजारहरू जस्तै वस्तु बजार, श्रम बजार,
बन्ड बजार, र मरु ा बजारको समग्रतालाइ एकै पटकमा अध्ययन गने र यी सबैबीचको अन्तरमनभथरता अध्ययन गने भएकाले यो एक सामान्य सन्तल ु न
मवश्लेिि हो।

Features of Macroeconomics/ बृहत् अर्थशास्त्रका मवशेिताहरु

The main features of macroeconomics are as follows
 Macroeconomics is aggregative economics
 Macroeconomics is concerned with the behavior of the economy as a whole
 Macroeconomics is a policy science and normative
 Its analytical tools are fiscal policy (taxes, government expenditure, and government
borrowing) and monetary policy (interest rate and money supply)
 Its objectives are to determine aggregate output, employment, and general price level
and their rate of change
 It is also called income and employment theory
 The nature of the macroeconomic analysis is a general equilibrium model
 It is relatively new and developed after the publication of Keynesian General Theory in
1936 A.D.
 Its principal variables are national income, total consumption, total expenditure, total
saving, total investment, etc.
 बृहत् अर्थशास्त्र समग्र अर्थशास्त्र हो
 बृहत् अर्थशास्त्र समग्र अर्थतन्त्रको व्यवहारसाँग सम्बमन्धत ि
 म्यािोइकोनोममक्त्स एक नीमत मवज्ञान र आदशथवादी मबज्ञान हो
 यसको मवश्लेििात्मक उपकरिहरू मविीय नीमत (कर, सरकारी खचथ, र सरकारी ऋि) र मौमरक नीमत (ब्याज दर र मुरा आपमू तथ) हुन।्
 यसको उद्देश्यहरू कुल उत्पादन, रोजगारी, र सामान्य मल्ू य स्तरको मापन गनथु र मतनीहरूको पररवतथन दर मापन गनथु हो
 यसलाई आय र रोजगार मसिान्त पमन भमनन्ि
 बृहत् आमर्थक मवश्लेििको प्रकृ मत सामान्य सन्तुलन मोडेल हो
 यसको प्रमख
ु चर रामष्ट्रय आय, कुल उपभोग, कुल खचथ, कुल बचत, कुल लगानी, आमद हुन।्

Scope of Macroeconomics/ बृहत अर्थशास्त्रको मवियवस्तु वा बृहत् अर्थशास्त्रले समेटेको क्षेत्र

The subject matter of macroeconomics or the area covered by macroeconomics is as follows/

बृहत अर्थशास्त्रको मवियवस्तु वा बृहत् अर्थशास्त्रले समेटेको क्षेत्र मनम्नानसु ार ि:

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1. Theory of income and employment/ आय र रोजगार को मसिान्त: Under this, the systematic process
of measurement of income and employment in different situations of the economy is studied.
Major causes of unemployment are also identified. यस अन्तगथत अर्थतन्त्रका मवमभन्न पररमस्र्मतहरूमा आय र रोजगारी
मापनको व्यवमस्र्त प्रमियाको अध्ययन गररन्ि। बेरोजगारीका प्रमख
ु कारिहरू पमन पमहचान गररन्िन।

2. Theory of Money/ मुराको मसिान्त: Under this, demand for money supply of money different
determinants of money supply, the effect of money supply on the real variables of the economy,
etc. is studied. The role of BFIs is also studied. यस अन्तगथत मरु ाको माग, आपमू तथ, मरु ा आपमू तथका मवमभन्न मनधाथरकहरू,
मरु ा आपमू तथले अर्थतन्त्रको वास्तमवक चरमा पाने प्रभाव आमदको अध्ययन गररन्ि। बैंक तर्ा मविीय सस्ं र्ाको भमू मका पमन अध्ययन गररन्ि ।

3. Theory of general price level/ सामान्य मूल्य स्तर को मसिान्त: It includes the study of inflation,
deflation, etc. their causes, and other fundamental aspects related to the general price level. यसले
मरु ास्फीमत, सक
ं ु चन, आमद मतनीहरूको कारिहरू, र सामान्य मल्ू य स्तरसाँग सम्बमन्धत अन्य आधारभतू पक्षहरूको अध्ययन समावेश गदथि।

4. Theory of economic growth/ आमर्थक वृमि को मसिान्त: It includes the study of the growth of income,
output, and employment and their major determinants. यसमा आम्दानी, उत्पादन र रोजगारीको वृमि र मतनका प्रमख
ु
मनधाथरकहरूको अध्ययन समावेश गररन्ि।

Importance of Macroeconomics/ बृहत अर्थशास्त्र को महत्व

Macroeconomics is useful in both theoretical as well as practical ways. The study of

macroeconomics provides information about the functioning and direction of an entire
economy and on the other side, it also provided the basis for the policy formulation for the
overall socio-economic transformation of the nation. बृहत् अर्थशास्त्र सैिामन्तक र व्यावहाररक दवु ै तररकामा उपयोगी
ि। बृहत् अर्थशास्त्रको अध्ययनले समग्र अर्थतन्त्रको कायथशैली र मदशाबारे जानकारी मदन्ि भने अकोतफथ राष्ट्रको समग्र सामामजक–आमर्थक
रूपान्तरिका लामग नीमत तजथमु ाको आधार पमन प्रदान गरे को ि ।

It helps to know the working of the entire economy/ यसले सम्पूिथ अर्थतन्त्रकोकायथप्रिाली र्ाहा पाउन मद्दत गिथ :
The study of macroeconomic variables, their values, and the rate of changes in those values
helps to know the performance, direction, and strength of an economy. For example, if the
value of GDP is increasing then it indicates that the economy is performing well and if the
value of per capita income is increasing then it shows that the living standard of people is
improving. बृहत् आमर्थक चरहरूको अध्ययन, मतनीहरूको मल्ू यहरू, र ती मल्ू यहरूमा भएको पररवतथनको दरले अर्थतन्त्रको कायथसम्पादन,
मदशा र बल जान्न मद्दत प्राप्त हुन्ि। उदाहरिका लामग, यमद GDP को रकम/मात्रा बढ्दै ि भने यसले अर्थतन्त्र राम्रो प्रदशथन गरररहेको ि भन्ने कुरा
दशाथउि र यमद प्रमतव्यमि आयको मल्ू य बढ्दै ि भने यसले मामनसहरूको जीवनस्तरमा सधु ार भइरहेको देखाउाँि।
It assists in the formulation of macroeconomic policies यसले बृहत् आमर्थक नीमतहरू तजुथमा गनथ मद्दत गिथ : The
formulation of policies needs to have proper knowledge about the realistic scenario of the
macroeconomic environment for a better representation of the expectations of people in the
policies to formulate. Macroeconomics and its information regarding macroeconomic variables
are thus useful to formulate aggregate policies like price policy, aggregate tax policy, aggregate
trade policy, aggregate investment policy, and monetary policy, which are required for the
rapid and smooth economic development of a nation. नीमत तजथमु ा गदाथ जनताको अपेक्षाको राम्रो प्रमतमनमधत्व गनथको
लामग सममि आमर्थक वातावरिको यर्ार्थपरक पररदृश्यको बारे मा उमचत ज्ञान हुनु आवश्यक ि। देशको रुत र सहज आमर्थक मवकासका लामग
आवश्यक पने मल्ू य नीमत, समग्र कर नीमत, समग्र व्यापार नीमत, समग्र लगानी नीमत, मौमरक नीमत जस्ता समग्र नीमतहरू तजथमु ा गनथ सममिगत
अर्थशास्त्र र सममि आमर्थक चरसम्बन्धी जानकारी उपयोगी हुन्ि।
Solving various Social Problems/ मवमभन्न सामामजक समस्या समाधान गने: Macroeconomics is also useful
to study various problems, their causes, sources, and possible remedies in society such as

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unemployment, poverty, inequality, regional imbalance, and make necessary arrangements to

solve those problems. बेरोजगारी, गररबी, असमानता, क्षेत्रीय असन्तुलन जस्ता समाजका मवमभन्न समस्या, मतनका कारि, समस्या
सृजनाको स्रोत र सम्भामवत उपायहरूको अध्ययन गरी ती समस्याहरूको समाधानका लामग आवश्यक व्यवस्र्ा गनथ पमन सममि अर्थशास्त्र उपयोगी
हुन्ि।
Measurement of National Income/ रामष्ट्रय आय मापन: Macroeconomics calculates and measures the
value of the national income of the nation annually. It also computes and analyses the value,
and direction of the components of national income such as GDP, GNP, and per capita income
of a nation. सममि अर्थशास्त्रले राष्ट्रको वामिथक आयको मापन तर्ा गिना गदथि। यसले राष्ट्रको GDP, GNP, प्रमतव्यमि आय जस्ता
रामष्ट्रय आयका अवधारिाहरूको मल्ू य, र मदशाको पमन गिना र मवश्लेिि गदथि।
Economic and Monetary Stability/ आमर्थक र मौमरक मस्र्रता: A nation should establish smooth
economic relationships and price stability for its sustainable development. Macroeconomics
with the study of causes, origin, and possible outcomes of different macroeconomic variables
helps to formulate different macroeconomic policies to accelerate the rate of economic growth
and control inflation and deflation, and other undesirable shocks in the economy. राष्ट्रले मदगो
मवकासका लामग सहज आमर्थक सम्बन्ध र मल्ू य मस्र्रता स्र्ापना गनथपु िथ । मवमभन्न सममि आमर्थक चरहरूमा आउने उतारचढाव, सोको कारि,
उत्पमि र सम्भामवत नमतजाहरूको अध्ययन बृहत् अर्थशास्त्रले गदथि। आमर्थक वृमि दरलाई गमत मदन र मरु ास्फीमत, मरु ा संकुचन र अर्थतन्त्रमा हुने
अन्य अवांिनीय धक्त्काहरूलाई मनयन्त्रि गनथ मवमभन्न सममि आमर्थक नीमतहरू बनाउन मद्दत गिथ ।
Helpful in international comparison/ अन्तराथमष्ट्रय तुलनामा उपयोगी: To making comparisons between
different countries in the internal arena, different macroeconomic variables are used. All those
variables are the subject matter of macroeconomics thus macroeconomics by providing detailed
information about those variables helps in international comparison. आन्तररक क्षेत्रमा मवमभन्न देशहरू बीच
तुलना गने उद्देश्यका लामग, मवमभन्न सममि आमर्थक चरहरू प्रयोग गररन्ि। ती सबै चरहरू बृहत् अर्थशास्त्रको मवियवस्तु हुन् त्यसैले ती चरहरूको
बारे मा मवस्तृत जानकारी प्रदान गरे र सममि अर्थशास्त्रले अन्तराथमष्ट्रय तुलनामा मद्दत गिथ ।
Helpful to evaluate the performance of the economy/ अर्थतन्त्रको कायथसम्पादन मूल्याङ्कन गनथ उपयोगी: By
observing the value and trend of different macroeconomic variables, the status and direction of
the performance of an economy can be observed. For example, increasing economic growth
rate, employment rate, the value of the human development index, rate of increase in
investment, increase in exports, increase in favorable balance in the balance of payment, etc.
show that the economy is performing well. Thus, macroeconomics and different
macroeconomic variables may work to measure and evaluate the economic performance of the
economy. मवमभन्न सममि आमर्थक चरहरूको मल्ू य र प्रवृमि अवलोकन गरे र, अर्थतन्त्रको कायथसम्पादनको मस्र्मत र मदशा अवलोकन गनथ
समकन्ि। उदाहरिका लामग, बढ्दो आमर्थक वृमिदर, रोजगारी दर, मानव मवकास सचू काङ्कको मल्ू य, लगानी वृमिदर, मनकासीमा वृमि, भि ु ानी
सन्तल
ु नमा अनक ु ू ल सन्तल
ु नमा भएको वृमि आमदले अर्थतन्त्र राम्रो भइरहेको देखाउाँि । तसर्थ, बृहत् अर्थशास्त्र र मवमभन्न सममि आमर्थक चरहरूले
अर्थतन्त्रको आमर्थक कायथसम्पादनको मापन र मल्ू याङ्कन गनथ काम गनथ सक्त्िन्।
Helpful to understand international trade/ अन्तराथमष्ट्रय व्यापार बुझ्न उपयोगी: The study of
macroeconomics also includes the study of trends and structure of international trade has been
doing by any country. In macroeconomic analysis, different theories explain different
conditions of benefit and loss of international trade, different conditions that require promotion,
as well as restrictions of international trade in a particular economy. Thus, macroeconomics is
beneficial in making international trade beneficial and formulating policies of international
trade to make it even better. बृहत् अर्थशास्त्रको अध्ययनमा कुनै पमन देशले गरररहेको अन्तराथमष्ट्रय व्यापारको प्रवृमि र संरचनाको
अध्ययन पमन समावेश हुन्ि। सममि अर्थशास्त्रमा अध्ययन गररने मवमभन्न मसिान्तहरू ले अन्तराथमष्ट्रय व्यापारको लाभ र हामनको मवमभन्न अवस्र्ाहरू,
अन्तराथमष्ट्रय व्यापारको पदोन्नमत आवश्यक पने र, अन्तराथमष्ट्रय व्यापारलाइ प्रमतबन्धहरू वगनथपु ने अवस्र्ाहरुको बारे मा िलफल गदथिन। तसर्थ,
अन्तराथमष्ट्रय व्यापारलाई फाइदाजनक बनाउन र यसलाई अझ राम्रो बनाउन अन्तराथमष्ट्रय व्यापारका नीमतहरू तजथमु ा गनथ बृहत् अर्थशास्त्र लाभदायक
हुन्ि।

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Useful in corporate decision-making/ व्यवसामयक मनिथय मा उपयोगी: For any business or corporation,
macroeconomics provides a framework for better policy formulation and decision making to
capitalize on the prevailing opportunities in the business surrounding. For a competitive
business, values, direction, and rate of changes of key macroeconomic policy variables like
government expenditure, rate of taxation, the flow of investment, aggregate demand, money
and credit expansion, interest rate, etc. provide the bases for rational business decision making.
Better business decisions are always key to the sustainable development of the business
community and thereby increasing the size of the economy too. कुनै पमन व्यवसाय वा मनगमको लामग, बृहत्
अर्थशास्त्रले राम्रो नीमत तजथमु ा र व्यवसामयक वातावरिमा मवद्यमान अवसरहरूको पाँजू ीकरि गनथ मनिथय गने ढााँचा प्रदान गदथि। प्रमतस्पधाथत्मक
व्यवसायका लामग सरकारी खचथ, करको दर, लगानीको प्रवाह, कुल माग, मरु ा र ऋि मवस्तार, ब्याजदर आमद जस्ता प्रमख ु सममि आमर्थक नीमत
चरहरूको मल्ू य, मदशा र पररवतथनको दरले तकथ संगत व्यवसायको लामग आधारहरू प्रदान गदथि। मनिथय मलने। व्यापाररक समदु ायको मदगो मवकासको
लामग राम्रो व्यापाररक मनिथयहरू सधैं महत्वपिू थ हुन्िन् र यस्ता मनिथय ले अर्थतन्त्रको समग्र सबलता बढाउन र यसको आकार बढाउाँि प्रयोग हुन्ि ।
Types of Macroeconomics
Based on time consideration, macroeconomics can be divided into three types as
1. Macro static analysis
2. Comparative macro static analysis
3. Macro dynamics
Limitations of Macroeconomics/बृहत अर्थशास्त्रका सीमाहरू
It is not always right to base on individual units/ व्यमिगत एकाइमा आधार हुनु सधै मठक हुदैन:
Macroeconomics is based on the aggregate of individual economic units. Sometimes good at
the individual level may not be good at the aggregate level. So, all the time aggregate is not
desirable for better policies. For example, saving for the individual may be fine but saving is
detrimental to the economy. बृहत अर्थशास्त्रले ब्यकमतगत एकाहरुमा आधाररत भएर समग्रताको मनिथय मलदा यसले उल्टो नमतजा
ल्याउन सक्त्ने खतरा हुन्ि। जस्तै व्यमिको लामग बचत गनथु मठक हुन सक्त्दि तर समग्र अर्थतन्रको मनमम्त बचत हामनकारक हुन्ि।
It is difficult to bring heterogeneous units on the same scale/ मविम एकाइहरुलाइ एउटै मापनमा ल्याउन कमठन
हुन्ि : the totality of small units of the economy is macroeconomics but it is difficult to bring
heterogeneous units on the same scale. Monetary measurement is used to solve this problem.
अर्थतन्त्रका साना एकाइ हरुको समग्रता नै बृहत हो तर मविम एकाइ हरुलाई एउटै मापनमा ल्याउन कमठनाइ हुन्ि। यो समस्या समाधानको लामग
मौमरक मापनको सहयोग मलइन्ि ।
The danger of ignorance of the changes in the individual sector/ व्यमिगत क्षेत्रको पररवतथनको अज्ञानताको
खतरा: Sometimes some sectors of the economy may decile and others may rise but, it may show
as it is. If we consider only aggregate, then it is asserted that nothing has changed in the
individual sectors. For example, the agriculture sector declined by 5 percent, and the
manufacturing sector increased by 5 percent. In aggregate, there is no change in total value. In
this case, macroeconomics may not consider such an increase and decrease in these two sectors
of the economy. कमहलेकाही ाँ अर्थतन्त्रका के ही क्षेत्रहरू कमजोर हुन सक्त्िन् र अरू बढ्न सक्त्िन् तर समग्र रूपमा, कुनै पमन पररवतथन नदेमखन
सक्त्दि। उदाहरिका लामग कृ मि क्षेत्र ५ प्रमतशतले घटेको ि र उत्पादन क्षेत्रमा ५ प्रमतशतले वृमि भएको ि । समग्रमा, कुल मल्ू यमा कुनै पररवतथन
देमखदैन। यस अवस्र्ामा, सममि अर्थशास्त्रले अर्थतन्त्रका यी दईु क्षेत्रहरूमा भएको बृद्दी र कमीलाई मवचार गनथ सक्त्दैन।
The effects of aggregate economics may be different for different sections of society, which is
not considered by the study of macroeconomics. समग्र अर्थशास्त्रको प्रभाव समाजका मवमभन्न वगथहरूमा फरक हुन सक्त्ि,
जसलाई सममि अर्थशास्त्रको अध्ययनले मवचार गदैन।
It may have limited application as it cannot aggregate some of the individual activities of the
economy. Its application may be limited due to the ignorance of the individual importance of

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economic activities. यसले स-साना एकाइहरुको समग्रता मात्र हेदाथ यसको व्यवहाररक प्रयोग कम हुन् सक्त्दि। अर्थतन्त्रका कमतपय
व्यमिगत गमतमवमधहरु समग्रतामा हेनथ नममल्ने पमन हुन् सक्त्दिन।
It ignores the contribution of individual units/ यसले व्यमिगत इकाइहरुको योगदानलाई नजरान्दाज गनथ सक्त्दि।
Differences between Microeconomics and Macroeconomics
The fundamental differences between microeconomics and macroeconomics are listed below.

[for other differences please consider the class discussion]

Interdependence of Microeconomics and Macroeconomics/ सक्ष्ू मअर्थशास्त्र र बृहत् अर्थशास्त्रको अन्तरमनभथरता
Even though we have differences between microeconomics and macroeconomics, it is needed
to note that these two are complementary to each other rather than supplementary. Shapiro
says, "Strictly speaking, there is only one economics". Thus, microeconomic variables and
macroeconomic variables are interdependent because to study microeconomic variables they
require the assistance of macroeconomic variables and while studying macroeconomic
variables, they need the assistance of microeconomic variables. The interlinkage between these
two is explained below. सूक्ष्मअर्थशास्त्र र बृहत् अर्थशास्त्रमा मभन्नता भए पमन यी दईु एकअकाथका परू क नभई पररपरू क हुन् भन्ने कुरामा
ध्यान मदन आवश्यक ि। शामपरो भन्िन,् "कठोर रूपमा भन्नपु दाथ, त्यहााँ एक मात्र अर्थशास्त्र ि"। तसर्थ, सक्ष्ू म आमर्थक चरहरू र बृहत् आमर्थक
चरहरू एकअकाथमा मनभथर हुन्िन् मकनभने सक्ष्ू म आमर्थक चरहरू अध्ययन गनथ उनीहरूलाई सममि आमर्थक चरहरूको सहयोग चामहन्ि र बृहत् आमर्थक
चरहरूको अध्ययन गदाथ उनीहरूलाई सूक्ष्म आमर्थक चरहरूको सहयोग चामहन्ि। यी दईु बीचको अन्तरसम्बन्ध तल व्याख्या गररएको ि।
Dependence of Microeconomics on Macroeconomics/ बृहत् अर्थशास्त्रमा सक्ष्ू म अर्थशास्त्रको मनभथरता
 Determination of the price of the product is the subject matter of microeconomics and
while measuring the price of a particular product, it depends on the general price level
which is the subject matter of macroeconomics. उत्पादनको मूल्य मनधाथरि सक्ष्ू मअर्थशास्त्रको मविय हो र कुनै
मवशेि उत्पादनको मल्ू य मापन गदाथ यो सामान्य मल्ू य स्तरमा मनभथर हुन्ि जनु सममि अर्थशास्त्रको मविय हो।
 Determination of wage rate is the subject matter of microeconomics but at the time of
its measurement, it also depends on the average wage level of the economy, which is
the subject matter of macroeconomics. ज्याला दर मनधाथरि सक्ष्ू मअर्थशास्त्रको मविय हो तर यसको मापनको समयमा,
यो अर्थतन्त्रको औसत ज्याला स्तरमा पमन मनभथर हुन्ि, जनु सममि अर्थशास्त्रको मविय हो।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516
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 Fixing the profit is a matter of microeconomics but it also depends on the

macroeconomic variables like national income, per capita income, aggregate demand,
level of employment, general price level, etc. नाफा मनधाथरि गनथु सक्ष्ू म अर्थशास्त्रको कुरा हो तर यो रामष्ट्रय
आय, प्रमतव्यमि आय, कुल माग, रोजगारीको स्तर, सामान्य मल्ू य स्तर आमद जस्ता सममि आमर्थक चरहरूमा पमन भर पिथ ।
 Determination of interest rate is the subject matter of microeconomics, but it is
affected by aggregate economic variables like total money supply, total demand for
loanable funds in the market, etc. which are the subject matters of macroeconomics.
ब्याज दर मनधाथरि सक्ष्ू मअर्थशास्त्रको मविय हो तर यो समग्र आमर्थक चरहरू जस्तै कुल मरु ा आपमू तथ, बजारमा ऋियोग्य कोिको कुल
माग, आमदले प्रभाव पािथ जनु सममि अर्थशास्त्रको मविय हो।
Dependence of Macroeconomics on Microeconomics/ सूक्ष्म अर्थशास्त्रमा बृहत् अर्थशास्त्रको मनभथरता
 Determination of national income is the price goal of macroeconomics, but it depends
on the measurement of income of the individuals which is the matter of concern of
microeconomics. रामष्ट्रय आयको मनधाथरि सममि अर्थशास्त्रको मल्ू य लक्ष्य हो तर यो व्यमिको आयको मापनमा मनभथर गदथि
जनु सक्ष्ू म अर्थशास्त्रको मचन्ताको मविय हो।
 Determination of price level is done at the macro level, but it is entirely based on a
collection of data and information regarding the price and quantity of individual
products which is the subject matter of microeconomics. मूल्य स्तरको मनधाथरि म्यािो स्तरमा गररन्ि
तर यो पिू थतया व्यमिगत उत्पादनहरूको मल्ू य र मात्रा सम्बन्धी जानकारीको/डाटा सग्रं हमा आधाररत हुन्ि जनु सक्ष्ू म अर्थशास्त्रको मविय
हो।
 Knowing the level of employment in a nation is one of the duties of macroeconomics
but knowing that requires the employment generated by individual producing units, is
the study area of microeconomics. राष्ट्रमा रोजगारीको स्तर जान्नु सममि अर्थशास्त्रको एक कतथव्य हो तर यो जान्न
व्यमिगत उत्पादन एकाइहरु द्वारा उत्पन्न रोजगारी बारे जान्नु आवश्यक हुन्ि जनु सक्ष्ू म अर्थशास्त्र को अध्ययन क्षेत्र हो।
 Determination of total investment in the economy is a concern of macroeconomics but
to determine the level of investment requires knowing its major determinants rate of
interest which is measured in microeconomics. अर्थतन्त्रमा कुल लगानीको मनधाथरि सममि अर्थशास्त्रको
चासोको मविय हो तर लगानीको स्तर मनधाथरि गनथ यसको प्रमख ु मनधाथरक ब्याज दर जान्न आवश्यक ि जुन सूक्ष्म अर्थशास्त्रमा मापन
गररन्ि।
 Determination of total savings of the economy comes under macroeconomics but
determining total savings requires data about saving made by individuals, corporations,
and different departments and units of the government. All those individual units are
studied in microeconomics. अर्थतन्त्रको कुल बचतको मनधाथरि सममि अर्थशास्त्र अन्तगथत आउाँि तर कुल बचत मनधाथरि
गनथ व्यमि, संस्र्ान र सरकारका मवमभन्न मवभाग र एकाइहरूले गरे को बचतको तथ्यांक चामहन्ि। ती सबै व्यमिगत एकाइहरू सूक्ष्म
अर्थशास्त्रमा अध्ययन गररन्ि।
Conclusion
In this way, there is a mutual interrelation between microeconomics and macroeconomics. For
the complete study of economics, one cannot ignore such interdependence between
microeconomic variables and macroeconomic variables. The study of microeconomics, as well
as macroeconomics, does only provide a complete understanding of economic theories and
principles. यसरी, सक्ष्ू म अर्थशास्त्र र बृहत् अर्थशास्त्र बीचको पारस्पररक सम्बन्ध ि। अर्थशास्त्रको पिू थ अध्ययनको लामग, सक्ष्ू म आमर्थक चर
र सममि आमर्थक चरहरू बीचको अन्तरमनभथरतालाई बेवास्ता गनथ समकाँ दैन। त्यसकारि, सक्ष्ू म अर्थशास्त्रको अध्ययन संगसंगै बृहत् अर्थशास्त्रको
अध्ययनले मात्र आमर्थक मसिान्तहरूको पिू थ बझु ाइ प्रदान गदथि।

Udaan Shaikshik Kendra, Bagbazar Kathmandu. Ph: 01-5918042, 9864298042, 9809428970, 9749466516