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After the completion of the course, students will be able to:
Module-I
Engineering Economics – Nature and scope, General concepts on micro & macro economics. The Theory of demand, Demand function, Law of demand and its exceptions, Elasticity of demand, Law of supply and elasticity of supply.
Theory of production, Law of variable proportion, Law of returns to scale.
Module-II
Time value of money: Simple and compound interest, Cash flow diagram, Principle of economic equivalence.
Evaluation of engineering projects: Present worth method, Future worth method, Net present value method, internal rate of return method, Cost-benefit analysis in public projects.
Depreciation: Meaning Causes, Factors affecting depreciation, Methods of providing depreciation, Straight Line Method & Diminishing Balance Method
Module-III
Cost concepts, Elements of costs, Preparation of cost sheet, Segregation of costs into fixed and variable costs. Break-even analysis (Simple numerical problems to be solved)
Indian Banking System: Banks: Meaning, nature, characteristic of the Indian banking system, functions of commercial banks, functions of Reserve Bank of India, Overview of Indian Financial System.
Text Books:
1. Riggs, Bedworth and Randhwa, “Engineering Economics”, McGraw Hill
Education India.
2. D.M. Mithani, Principles of Economics. Himalaya Publishing House
Reference Books
1. Sasmita Mishra, “Engineering Economics & Costing “, PHI
2. Sullivan and Wicks, “ Engineering Economy”, Pearson
3. R.Paneer Seelvan, “ Engineering Economics”, PHI
4. Gupta, “ Managerial Economics”, TMH
5. Lal and Srivastav, “ Cost Accounting”, TMH
Nature and scope, General concepts on micro & macro economics
Presentation:Introduction to ME |
https://www.youtube.com/watch?v=PHe0bXAIuk0&feature=youtu.be
The Theory of demand, Demand function, Law of demand and its exceptions
Presentation: Demand Analysis |
Elasticity of demand-Price Elasticity, Income Elasticity, Cross Elasticity and Promotional Elasticity
Presentation: Elasticity-Supply and Demand-Applications
https://www.youtube.com/watch?v=VhKI8cOaYLI&feature=emb_logo
Elasticity of supply
Presentation: Elasticity-Supply and Demand-Applications
https://www.youtube.com/watch?v=VhKI8cOaYLI&feature=emb_logo
Theory of production, Law of variable proportion
Presentation:Production Theory |
https://courses.lumenlearning.com/wmopen-microeconomics/chapter/the-production-function/
Law of returns to scale
Presentation: LR production |
https://www.coursera.org/lecture/microeconomics/1-1-introduction-to-production-3aY0G
Project: Assess demand and supply of of a particular firm in the wake of COVID-19
Concepts of Time value of money, Simple and compound interest, Cash flow diagram, Principle of economic equivalence
https://www.slideshare.net/ZahraMirzayeva/chapter-2time-value-of-money-ppt
Small Story on Power of Compounding
https://www.youtube.com/watch?v=SKkH38hhWSo
Simple vs. Compound Interest
Future Worth - Fundamentals of Engineering Economics
https://www.youtube.com/watch?v=2nYkCfdiC3E
Present Worth - Fundamentals of Engineering Economics
Case Study on the time value of money
http://www.allfinancejournal.com/article/view/5/1-1-5
Project on the time value of money
Students’ Presentation
Evaluation of engineering projects: Present worth method, Future worth method, Net present value method, internal rate of return method, Cost-benefit analysis in public projects.
https://www.slideserve.com/emerald-mills/chapter-5-project-evaluation-principles-and-methods
Case Study on evaluation of a project
http://www.ergen.gr/files/CapitalBudgetingAndInvestmentDecisions.pdf
Project on the evaluation of a project
Students’ Presentation
Depreciation: Meaning Causes, Factors affecting depreciation, Methods of providing depreciation, Straight Line Method & Diminishing Balance Method
Practice problem on the calculation of depreciation on straight-line method & diminishing balance method
Cost Concepts & Classification of Cost
https://www.slideshare.net/WAQAS1996/cost-accounting-and-its-classification
Preparation of Cost Sheet
Case Study on Cadbury Cost Sheet
https://www.slideshare.net/amardeepbardhan/cost-sheet-of-a-chocolate-company-and-its-analysis
Project on Preparation of Cost Sheet of Small Business
Field studies for collecting the data for preparation of Cost Sheet
Students' Presentation
Marginal costing and break-even analysis (Marginal cost equation, contributions, PV ratio, BEP and margin of safety)
https://www.slideshare.net/sanchitgangar/accounts-marginal-costing
Project on Preparation of Cost Sheet of Small Business by considering Marginal Counting
Field studies for collecting the data for preparation of Cost Sheet
Students' Presentation
Introduction to Bank, Characteristics of Indian Banking System, Role of Banks
https://www.slideshare.net/1954bvr/meaning-definition-and-functions-of-banking
Role and Functions of Reserve Bank of India
Case Study of State Bank of India
https://www.fujitsu.com/global/Images/CS_2015Sep_State_Bank_of_India_V4.pdf
Commercial Banks and their Functions
https://www.youtube.com/watch?v=wlsOeE346SI
Students' Presentation
“We are what we repTeacherseatedly do. Excellence, therefore, is not an act but a habit” I have received my Ph.D. from the Department of HSS, Indian Institute of Technology (IIT) Kharagpur. Prior to my Ph.D., I also have degrees in M.Phil. in Economics (2007) and MA in Economics (2005), both from Ravenshaw University, Odisha. Throughout my […]
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