2HS307: Economics for Engineers

Learning Outcomes: 
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
Syllabus: 
Unit NoTopics
Introduction to Economics

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

Theory of production

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

Markets

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.

Macro Economic Theories

Poverty-meaning, absolute & relative poverty, causes, measures to reduce Unemployment: meaning, types, causes, remedies Inflation; meaning, types, causes, measures to control

Money

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.

Text Books: 
Name : 
Engineering Economics
Author: 
R.Paneerselvam
Publication: 
PHI publication
Reference Books: 
Name: 
Fundamentals of Management: Essential Concepts and Applications
Author: 
S.P. and Decenzo David A
Publication: 
Robbins
Edition: 
Pearson Education
Name: 
Economics: Principles of Economics
Author: 
N Gregory Mankiw
Edition: 
Cengage Learning
Name: 
Principles and Practices of Management
Author: 
by L.M.Prasad
Name: 
Principles of Management
Author: 
by Tripathy and Reddy
Name: 
Modern Economic Theory
Author: 
By Dr. K. K. Dewett & M. H. Navalur
Edition: 
S. Chand Publications
Syllabus PDF: 
AttachmentSize
PDF icon 2HS307.pdf182.25 KB
branch: 
CBA
BDA
MA
Course: 
2016
Stream: 
B.Tech