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This article briefly discusses the differences between microeconomics and macroeconomics and their interconnection. Microeconomics and macroeconomics are the two branches of economics. A German economist, Ragnar Fisch first coined and used these two terminologies in 1933. Micro and Macro have been derived from the Greek words ‘mikros’ meaning ‘small’ and ‘makros’ meaning ‘large’. The terms … Read more

The meaning, types, cycle, and history of the budget are already discussed in a separate article. In this article, the budget formulation process is discussed with reference to Nepal. This article is useful for those who are studying in class 12, preparing for the Loksewa exams, and students of economics. The steps of budget formulation … Read more

This article aims to provide a brief understanding of the budget and government budget. At first, the origin and history of the budget from the global and Nepalese perspectives are discussed, then the types of budget are mentioned in detail. Finally, the general budget cycle is discussed. Meaning of Budget The English term Budget is … Read more

Due to a lot of controversy about the universal definition of economics, the subject matter and basic economic problem have also been differently defined. Adam Smith focused on the nature and the causes of the wealth of nations, whereas Alfred Marshall emphasized the examination of individual and social action which is connected with material requisites … Read more

This article discusses the definition of economics given by different economists like Adam Smith, Alfred Marshall, and Lionel Robbins. The term Economics is derived from the Greek word Oikonomik which refers to ‘household management’.  The concept of economics was brought in the earlier period by Aristotle, and the Indian philosopher Kautilya in 400 BC (Approximately), … Read more