Khemraj Subedi, Associate Professor

  Keynesian Economic Theory as Public policy Guide.   Meaning of public policy   The word public policy is widely used. It indicates to the policies taken by the government into different sectors like health, education, agriculture, industry, commerce etc. In the beginning, the public policy was used as political science and public administration. Public policy was one of the branches of the disciplines. Traditional studies described the institution in which public policy was formulated. Policy could be viewed as a set of guidelines for action aimed at achieving goals and objectives considered to be desirable or aimed at satisfying the needs of society in general or of   groups in particular.   Policy refers to the policies taken by the government into different economic and non economic sectors. The main objective of the public policy is to serve and develop the people by providing conducive environment, which maintains the norms and values of the society for quality of li

  Criticisms of Keynes’ Theory of Liquidity Preference Khemraj Subedi, Associate Professor M.Phil (Economics) PhD Scholar in Economics 1. Indeterminate: Keynes’ liquidity preference theory is also indeterminate like the classical theory of the rate of interest. This is because the liquidity preference curve itself shifts up and down with changes in the level, of income. Keynes’ liquidity preference curve includes these motives [L 1  (Y) + L 2  (r)]. The first part of the liquidity preference curve (L 1 ) comprising transaction and precautionary motives cannot be known unless we know the level of income; therefore, we cannot know the relevant liquidity preference curve and hence the rate of interest. The theory is indeterminate because liquidity curve is difficult to locate without knowing the level of income. What the Keynesian formulation regarding the rate of interest tells us is the various schedules of liquidity preference at various levels of income and not what the rate o

Link for Accelerator Theory https://www.slideshare.net/khemrajsubedi/accelerator-theory  

  Monopolistic Competition; Meaning, Features and Market equilibrium Khemraj Subedi, Associate Professor M.Phil (Economics) Meaning Monopolistic competition is a market structure  that lies in between perfect competition and monopoly having features with large numbers of buyers and sellers; imperfect information; low entry,  and exit barriers ; similar but differentiated products . Therefore, monopolistic competition consists with features of both perfect competition and monopoly.   A monopolistic competition is more common than pure competition or pure monopoly. The first theoretical analysis of monopolistic competition was simultaneously developed by two economists working independently of one another: The British economist Joan Robinson (who introduced the concept in her 1933 book  Economics of Imperfect Competition ) and the American economist Edward Hastings Chamberlin (whose ideas on the subject were published in his  Theory of Monopolistic Competition,  published that

                             HEALTH CARE FINANCING TRANSITION IN NEPAL Khem Raj Subedi  * Associate Professor Far western University of Nepal Abstract This article highlights the important components of Nepalese healthcare financing and aims at examining the health care financing system in Nepal in terms of share of government health care expenditure per capita, household out-of-pocket expenditure, and ratio of total health care expenditure to Gross Domestic Product (GDP). The recent data shows that Government of Nepal allocates meagre 1.11 percent of GDP from government coffer for health care financing where   out-of-pocket payment is 3.47percent of GDP and it is about 60 percent of total health care expenditure. It implies that people are heavily dependent on their own source for health care financing. Public Health Expenditure as a percent of Total Health Expenditure is 40 percent. Public Expenditure on health as Percent of Total Government Expenditure is 11 percent, Total Health Ex