IM 2413: HUMANITIES AND ENGINEERING ECONOMICS

IM 2413: HUMANITIES AND ENGINEERING ECONOMICS

Theory:

1. Role Of Humanities in Engineering education, social and ethical values, social institutions – family marriage, association, community, urban Vs rural society, social stratification in India, Social change.
2. Functions of Government, organs of Government, parliamentary and presidential system, Democracy Vs Dictatorship, socialism and communism, socialistic pattern of society, public opinion, political parties, Nationalism and internationalism.
3. Nature and scope, Economic cycle flow, Central Economic Problems, Marginalism, Laws of Demand and supply, Demand Curve and Demand function, Cardinal and ordinal utility analysis of consumer equilibrium, Demand derivation, Price consumption curve and income consumption curve. Elasticity of demand.
4. Production, Cost and Price: Equilibrium price, Production function, Laws of variable proportions and scale, Cost-output relationship, long and short run costs, fixed and variable costs, break-even point, Nature and measurement of profits.
5. Pricing and Market: Equilibrium of firms and industry. Price determination under perfect competition, Imperfect competition and monopoly.

Books & References Recommended:

1. Dwivedi and Dwivedi: Engineering Economics
2. Terrachand, Engineering Economics.
3. Chauhan A.S., Text book of Social Science.
4. Agrawal R.C, Principles of Political Science.
5. Joel Dean, Managerial Economics.