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Biju Patnaik University of Technology, Odisha, Mechanical Engineering Semester 3, Engineering Economics Syllabus

Engineering Economics Lecture notes | Videos | Free pdf Download | Previous years solved question papers | MCQs | Question Banks| Syllabus

Unit - 1 Engineering Economics, Demand and Supply

Unit 1

Engineering Economics Demand and Supply

1.1 Engineering EconomicsNature Scope Basic problems of an economy Micro Economics Macro Economics

1.2 Demand Meaning of demand Demand Function Law of demand and its exceptions Determinants of demand Elasticity of demand and its measurement Simple numerical problems to be solved Demand Forecasting Meaning

1.3 Supply Meaning of supply Law of supply and its exceptions Determinants of supply Elasticity of supply Determination of market equilibrium Simple numerical problems to be solved

Unit - 2 Production, Cost and Revenue Concepts

Unit 2

Production Cost and Revenue Concepts

2.1 Production Production function Laws of returns Law of variable proportion Law of returns to scale

2.2 Cost and Revenue concepts Total Cost Fixed Cost Variable Cost Total Revenue Average Revenue and Marginal Revenue Cost – Output Relationships in the Short Run Cost – Output Relationships in the Long Run Analysis of cost minimizations

Unit - 3 Market

Unit 3

Market

3.1 Basic understanding of different market structures

3.2 Determination of equilibrium price under perfect competition Simple numerical to be solved

3.3 Break Even Analysis –Linear approach Simple examples to be solved

Unit - 4 Time Value of Money

Unit 4

Time Value of Money

4.1 Time Value of MoneyInterest – Simple and Compound nominal and effective rate of interest Cash flow diagrams Principles of economic equivalence.

4.2 Evaluation of Engineering Projects Present Worth Method Future Worth Method Annual Worth Method Internal Rate of return method Cost benefit analysis for public projects.

4.3 Depreciation – Depreciation of capital asset Causes of depreciation Methods of calculating depreciation – Straight line method Declining balance method SOYD method After tax comparison of projects.

Unit - 5 Inflation, National Income And Banking

Unit 5

Inflation National Income and Banking

5.1 Inflation Meaning of inflation types causes measures to control inflation

5.2 National Income – Definition Concepts of national income Methods of measuring national income.

5.3 Banking Commercial bank Functions of Commercial bank Central bank Functions of Central bank.