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Real and nominal measures

Unit 2: National Income AccountingTopic 3 of 5
Browse the Macroeconomics for Business syllabus

Macroeconomics for Business

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What the syllabus expects

  • Real GDP
  • Nominal GDP
  • GDP deflator

Real and nominal measures

Bachelor of Business Studies (BBS) — Second Year

Subject: Macroeconomics for Business (MGT 209)

Unit 2: National Income Accounting

Academic Year: 2083/84

Topic Objectives

After studying this topic, students should be able to:

  • Explain the scope and key elements of real and nominal measures.
  • Explain the economic model or issue, identify its assumptions and interpret the relevant diagrams, calculations or dated evidence.

Curriculum Scope

  • Real GDP
  • Nominal GDP
  • GDP deflator

Detailed Microsyllabus

  1. Nominal and real GDP

    1. Current-price and constant-price valuation.
    2. Separate quantity changes from price changes.
    3. Interpret a specified base period.

  2. GDP deflator

    1. Calculate the ratio of nominal to real output.
    2. Interpret changes relative to the base.
    3. Distinguish the GDP deflator from a consumer price index.

Curriculum reference: Tribhuvan University, Faculty of Management, revised four-year BBS curriculum, PDF pages 24-26.

Source note: The curriculum scope above is retained from the existing TU syllabus breakdown. The numbered study subtopics are editorial elaborations for teaching and study, rather than a separately issued TU syllabus. Unit or component allocations apply at their stated level; no separate topic hours or marks are assigned here. Nepalese current-status discussions should identify the reporting period and use dated official publications, such as Nepal Rastra Bank reports, rather than undated figures.