Unit - 1 : Introduction to Engineering Economics and Managerial Economics
Concept of efficiency, Theory of demand, Elasticity of demand, Supply and law of supply indifference curves, Budget line, Welfare analysis, Scope of managerial economics, Techniques and applications of managerial economics.
Unit - 2 : Market Structure
Perfect competitions imperfect - Monopolistic, Oligopoly, Duopoly sorbent features of price determination and various market conditions.
Unit - 3 : Demand Forecasting and Cost Estimation
Characteristics of forecasts, Forecasting horizons, Steps to forecasting, Forecasting methods, Seasonal adjustments, Forecasting performance measures, Cost estimation, Elements of cost, Computation of material variances break-even analysis.
Unit - 4 : Management Aspects
Functions of management, Project management, Value engineering, Project evaluation, Decision making.