Abstract

Nanotechnology is the understanding and control of matter at the diemnsions ranging between 1-100 nm. One nanometer is one billionth of a meter. Nanotechnology involves manipulation of atoms, imaging, measuring and modelling at nano scale. Its potentials were first highlighted by Richard Feynman in the American Physical Scociety meeting in 1959. Though, he did not coin the world nanotechnology himself but he explored the possiblities of functional materials at the bottom of the scale. In last two decades this technology has been commercialized to great extent and gaining importance day by day influencing the economies of different countries and henceforth enforcing the policy makers to address the issues like environment, health and safety. Governments are regularisaing and monitoring its research, uses, applications and technology transfer which includes intelluctaul property rights. This paper addresses the dimensions and trends of nanotechnology covering economic aspects. The paper is focussed on the changes in the functional properties of nanomaterials as physical, chemical, optical, electronic, electrical, magnetic etc. in comparision to those of the bulk of material. It has been discussed how the basic and advance research in nanoscience could be explotiedfor making technologies for its commercial and industrial applications for the benefit and safety of the soceity. Thin film magnetism is demonstrated using Monte Carlo simulation method. Experimental synthesisof some of thenanorods and qunatum dots are also discussed.

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