ECONOMICS 2ND SEMESTER 2019

ECONOMICS 2ND SEMESTER 2020

•  Introduction & subject matter of economics

1. Definition of economics.Scarcity of resource

2. Alternative use of resource

3. Production possibility frontier
4. Opportunity cost and marginal cost
5. Average cost and classification of cost
6. Relation between engineering and economy

•  Theory of demand and supply

1. 1.Definition of demand and supply
2. law of demand and supply. Factors determining supply
3. Diamond curve and relation between demand curve and elasticity of demand
4. intersection of diamond and supply. Shift in demand and supply.
5. relation between MR price and elasticity of demand
6. 6.exception to the law of demand

•  Theory of production and cost

1. Theory of production and cost. Factors of production and production function
2. Distinguish between short run and long run
3. Law of variable proportion law of Returns
4. Assumption of returns law
5. LOSS negative returns. Returns to scale
6. Average cost. Fixed cost .Explicit cost
7. Abbott it fixed cost curve
8. Relation between average and marginal cost

•  Market

1. Definition and classification of market
2. Total Ravine to that cost approach
3. Marginal revenue-marginal cost approach.
4. MR=MC rule.
5. Profit maximization rule
6. Perfect competition market.
7. Phases of business cycle

•  Investment planning

1. Pay back period method..Net present value.
2. Capital budgeting. Characteristics up capital budgeting
3. Advantage of payback method. And it’s limitation
4. Return on investment method
5. NPV method .Limitation and merits of npv
6. Advantages and limitation of IRR
7. Profitability index

•  Economics concepts and issues in the context of Indian economics.

1. Mixed economy
2. Inflation. unemployment
3. Golden handshake.
4. Foreign direct investment. The new industrial policy of 1991 in INDIA
5. Problem and prospects of Indian industry.