Can someone give me a basic parts list of required items for .net micro framework development?
There is no such thing as 'required items'. You can stock up on some basic parts, however. You're very likely to need:


Leds
Resistors
Caps
Transistors
Solderless breadboard
Solid core wire
Crocodile clamps
External power supply (5-12V?)
Multimeter
Some sensors
...


And if you're planning to actually build something: there are loads of questions about soldering irons/solder/... on this site; check those out.