Tutorial Sheet Engineering and managerial economics EHU -501 Unit I 1.

Discuss the evolution of economics from historical perspective. 2. Explain the major difference between microeconomics and macroeconomics. 3. How is economics useful for engineers. 4. Discuss the definitions of economics according to Adam smith and Prof.Ma rshal 5. Differentiate between science , engineering and technology. 6. Managerial economics often use to help business students integrate the k nowledge gained in other course. how is this integration accomplished 7. What is the role of managerial economics in preparing managers. 8. Managerial economics bridges the gap between economic theory and busines s practice discuss. 9. Point out the broad areas of application of economic principles. 10. Explain the various functions of managerial economics. Unit II 1. State and explain the law of demand .what is its exceptions. 2. Distinguish between income elasticity and price elasticity of demand. 3. Discuss the concept of price elasticity of demand along with its various types. 4. Discuss cross elasticity and state its formula 5. Explain the concept of need want and demand along with example. 6. Explain any method of measuring price elasticity of demand. 7. Distinguish between individual demand and market demand. 8. Why the demand of a product is decreases in spite of the decrease in pri ce of product. Discuss the exception. 9. What is the cardinal approach of utility. 10. Explain the law of returns to scale in brief. Unit III 1. Discuss the qualitative approach of demand forecasting and point out the ir limitations 2. Explain the major inputs involved in production. 3. Explain the cobs equation of production function along with all variable s. 4. Discuss briefly cost concept relevant to managerial decision making 5. Discuss the law of diminishing returns along with diagram. disc 6. Concept of demand forecasting is versatile tools of economic analysis uss the validity of statement with example. 7. Explain how manager can choose right forecasting method. 8. State the econometric method of demand forecasting. 9. Describe the least square method of demand forecasting. 10. Elaborate the classification of cost as accounting cost and analytical c ost. Unit IV 1. growth 2. 3. 4. oly. 5. 6. 7. 8. 9. Why is the perfect competitions regarded as ideal condition for economic of nations. What is meant by price discrimination Explain various types of market structures and their features. What is meant by monopoly. What are the causes and consequences of monop Define oligopoly explain pricing decision under it. Differentiate between perfect and imperfect competitive market. Explain the main features of perfect competition. Explain the two degree of price discrimination. Explain the price determination under monopoly with the help of graph.

10. Give example of heterogeneous market and its significance in market segm entation. Unit V 1. and net 2. 3. 4. 5. em. 6. 7. 8. 9. 10. Define national income and differentiate between gross national product national product. Describe the factor income method of measuring national income. Explain the depression phase of business cycle and point its features. What is inflation and its main indicators. Enumerate important theories of business cycle and explain any one of th Explain Write a Discuss What is What is the demand pull inflation in brief. note on national income in India. bank rate policy as a measure to control inflation. fiscal policy, describe its main features. the use of taxes in contest of economic development of nation.

Model Paper: B.tech V semester theory examination Engineering and managerial economics Time: 3 hours rks: 100

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Note: answer all questions and all questions carry equal marks. 1. Answer any two of the following: (10x2=20) a. What are the two main types of economics explain in brief. b. Is managerial economics useful to engineering students - justify your answer . C.explain the significance of economic theories in day to day life 2. Answer any two of the following: (10x2=20) a. give reasons for demand curve sloping downwards from left to right with diagr am. b. explain the concept of giffen paradox. C.Descibe any one method of measuring elasticity of demand. 3. Answer any two of the following: (10x2=20) a. what are the different types of production cost describe with example. b. explain cobs equation of production with all the important variable. C.write the qualitative methods of demand forecasting. 4. Answer any two of the following: (10x2=20) a. differentiate between following:Monopoly market ,Oligopoly market & Duopoly m arket. b. describe the important phases of business cycle and measures to be successful business man in each phase. C. E0 = 1 what does it mean and can you explain type of elasticity of demand on basis of it. 5. Answer any two of the following: (10x2=20)

a. explain what is inflation and give reasons for inflation in present economic conditions in your own words. b. which policy is better in preventing inflation monetary or fiscal ,please justi fy your answer. c. write short note on any two: i. National income ii GDP iii NNP