A theory of nanoparticle dynamics based on scaling arguments and the Liouville equation is presented. We start with a delineation of the scales characterizing the behavior of the nanoparticle/host fluid system. Asymptotic expansions, multiple time and space scale techniques, the resulting coarse-grained dynamics of the probability densities of the Fokker-Planck-Chandrasekhar (FPC) type for the nanoparticle(s), and the hydrodynamic models of the host medium are obtained. Collections of nanoparticles are considered so that problems such as viral self-assembly and the transition from a particle suspension to a solid porous matrix can be addressed via a deductive approach that starts with the Liouville equation and a calibrated atomic force field, and yields a generalized FPC equation. Extensions allowing for the investigation of the rotation and deformation of the nanoparticles are considered in the context of the space-warping formalism. Thermodynamic forces and dissipative effects are accounted for. The notion of configuration-dependent drag coefficients and their implications for coagulation and consolidation are shown to be natural consequences of the analysis. All results are obtained via formal asymptotic expansions in mass, size, and other physical and kinetic parameter ratios.