Engineering Economics And Management - [2130004]

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Teaching Scheme

Theory
Tutorial Practical Total
3 0 0 3

Examination Scheme

Theory Examination Practical Examination Total
ESE (E) PA (M) ESE Viva (V) PA (I)
- - - - -

    ESE = End Semester Examination, PA = Progressive Assessment


Semester   
:   
3
Course Type   
:   
-
Credit   
:   
3

Syllabus Content

Definitions, Nature, Scope, Difference between Microeconomics & Macroeconomics Theory of Demand & Supply; meaning, determinants, law of demand, law of supply, equilibrium between demand & supply Elasticity; elasticity of demand, price elasticity, income elasticity, cross elasticity
production function, meaning, factors of production (meaning & characteristics of Land, Labour, capital & entrepreneur), Law of variable proportions & law of returns to scale Cost; meaning, short run & long run cost, fixed cost, variable cost, total cost, average cost, marginal cost, opportunity cost. Break even analysis; meaning, explanation, numerical
meaning, types of markets & their characteristics ( Perfect Competition, Monopoly, Monopolistic Completion, Oligopoly) National Income; meaning, stock and flow concept, NI at current price, NI at constant price, GNP, GDP, NNP,NDP, Personal income, disposal income.
Poverty-meaning, absolute & relative poverty, causes, measures to reduce Unemployment: meaning, types, causes, remedies Inflation; meaning, types, causes, measures to control
meaning, functions, types, Monetary policy- meaning, objectives, tools, fiscal policy-meaning, objectives, tools Banking; meaning, types, functions, Central Bank- RBI; its functions, concepts; CRR, bank rate, repo rate, reverse repo rate, SLR.
Definitions, Nature, scope Management & administration, skill, types and roles of managers Management Principles; Scientific principles, Administrative principles, Maslow’s Hierarchy of needs theory
Planning, Organizing, Staffing, Directing, Controlling ( meaning, nature and importance) Organizational Structures; meaning, principles of organization, types-formal and informal, line, line & staff, matrix, hybrid (explanation with merits and demerits), span of control, departmentalization.
Marketing Mix, concepts of marketing, demand forecasting and methods, market segmentation Introduction to Finance Management; meaning, scope, sources, functions
definitions, objectives, functions, plant layout-types & factors affecting it, plant location- factors affecting it. Introduction to Human Resource Management; definitions, objectives of manpower planning, process, sources of recruitment, process of selection
meaning, importance Business Ethics; meaning, importance.

Reference Books

SrTitleAuthorPublicationAmazon Link
1Engineering EconomicsR.PaneerselvamPHI publication
2Fundamentals of Management: Essential Concepts and ApplicationsRobbins S.P. and Decenzo David A.Pearson Education
3Principles of EconomicsN Gregory MankiwCengage Learning
4Principles and Practices of ManagementL.M.Prasad 
5Principles of ManagementTripathy and Reddy 
6Modern Economic TheoryDr. K. K. Dewett & M. H. NavalurS. Chand

Course Outcome

The course is intended to provide basic understanding of Economics and Management to engineering students with following aspects:

  • To impart knowledge, with respect to concepts, principles and practical applications of Economics, which govern the functioning of a firm/organization under different market conditions.
  • To help the students to understand the fundamental concepts and principles of management; the basic roles, skills, functions of management, various organizational structures and basic knowledge of marketing.