Economics and Costing tutorial

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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
  •  Determination of equilibrium price under perfect competition 
  • 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
  •  Annual worth method
  •  internal rate of return method
  •  Cost-benefit analysis in public projects
  •  Depreciation policy
  •  Depreciation of capital assets
  •  Causes of depreciation
  •  Straight line method and declining balance method

Module-III:

  • Cost concepts
  •  Elements of costs
  •  Preparation of cost sheet
  •  Segregation of costs into fixed and variable costs
  •  Break-even analysis-Linear approach
  • Banking
  •  Meaning and functions of commercial banks
  •  functions of Reserve Bank of India
  • Overview of Indian Financial system

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