Economics For Engineers for B.tech Third semester

Module

No.

Syllabus Description

Contact Hours

1

Basic Economics Concepts - Basic economic problems – Production Possibility Curve – Utility – Law of diminishing marginal utility – Law of Demand - Law of supply – Elasticity - measurement of elasticity and its applications – Equilibrium- Changes in demand and supply and its effects Production function - Law of variable proportion – Economies of Scale – Internal and External Economies – Cobb-Douglas Production Function.

06

2

Cost concepts – Social cost, private cost – Explicit and implicit cost – Sunk cost - Opportunity cost - short run cost curves - Revenue concepts Firms and their objectives – Types of firms – Markets - Perfect Competition – Monopoly - Monopolistic Competition - Oligopoly (features and equilibrium of a firm)

06

3

Monetary System – Money – Functions - Central Banking –Inflation - Causes and Effects – Measures to Control Inflation - Monetary and Fiscal policies – Deflation Taxation – Direct and Indirect taxes (merits and demerits) – GST National income – Concepts - Circular Flow – Methods of Estimation and Difficulties - Stock Market – Functions- Problems faced by the Indian stock market-Demat Account and Trading Account – Stock market Indicators-

SENSEX and NIFTY

06

4

Value Analysis and value Engineering - Cost Value, Exchange Value, Use Value, Esteem Value - Aims, Advantages and Application areas of Value Engineering - Value Engineering Procedure - Break-even Analysis - Cost-Benefit Analysis - Capital Budgeting - Process planning

06