EC T82 –INDUSTRIAL MANAGEMENT AND ENGINEERING ECONOMICS
UNIT - I Introduction to Economics
Flow in an Economy, Law of supply and Demand, Concept of Engineering Economics – Engineering Efficiency, Economic Efficiency, Scope of Engineering Economics, Elements of costs, Marginal Cost, Marginal Revenue, Sunk cost, Opportunity cost, Break-Even Analysis, P/V ratio, Elementary Economics Analysis-Function, Aims, Value Engineering procedure, Interest Formulas and their Applications – Time Value of Money, Single Payment Compound Amount Factor, Single Payment Present Worth Factor, Equal Payment Series, Compound Amount Factor, Equal Payment Series Sinking Fund Factor, Equal Payment Series Present Worth Factor, Equal Payment Series Capital Recovery Factor, Uniform Gradient Series Annual Equivalent Factor, Effective Interest Rate, Examples in all the methods.
Introduction, Straight Line Method of Depreciation, Declining Balance Method of Depreciation, Sum-of-the-Years-Digits Method of Depreciation, Sinking Fund Method of Depreciation/Annuity Method of Depreciation, Service Output Method of Depreciation, Evaluation of Public Alternatives- Introduction, Examples, Inflation Adjusted Decisions – Procedure to Adjust Inflation, Examples on comparison of alternatives and Determination of Economics Life of asset.
UNIT - IV General Management
Basic concepts of management – Scientific management – Henry Fayal’s principles of management – Types and functions of management. Types of organization – characteristics, merits and demerits. Types of industrial ownership – characteristics, merits and demerits.
UNIT-V Financial Management
Fixed and variable costs – cost ladder – Break even analysis (simple problems) – Types of capital – working capital – Sources of finance (internal and external) - Evaluation of investments – Present Worth Method, Future Worth Method, Annuity Method and Rate of return Methods (simple problems) – Preparation of balance sheet and profit and loss statements.
Text / Reference Books:
1. O.P. Khanna, “Industrial Engineering and Management”, Dhanpat Rai& sons,1999. 2. R.PannerSelvam, “Production and Operations Management”, PHI Learning, 2002. 3. Mart and Telsang – Industrial Engineering and Production Management, S.Chand and Co., 1998. 4. Shailendra Kale– Production and Operations Management, McGraw Hill, India 2013. EC T82 –INDUSTRIAL MANAGEMENT AND ENGINEERING ECONOMICS
UNIT - I Introduction to Economics
Flow in an Economy, Law of supply and Demand, Concept of Engineering Economics – Engineering Efficiency, Economic Efficiency, Scope of Engineering Economics, Elements of costs, Marginal Cost, Marginal Revenue, Sunk cost, Opportunity cost, Break-Even Analysis, P/V ratio, Elementary Economics Analysis-Function, Aims, Value Engineering procedure, Interest Formulas and their Applications – Time Value of Money, Single Payment Compound Amount Factor, Single Payment Present Worth Factor, Equal Payment Series, Compound Amount Factor, Equal Payment Series Sinking Fund Factor, Equal Payment Series Present Worth Factor, Equal Payment Series Capital Recovery Factor, Uniform Gradient Series Annual Equivalent Factor, Effective Interest Rate, Examples in all the methods.
Introduction, Straight Line Method of Depreciation, Declining Balance Method of Depreciation, Sum-of-the-Years-Digits Method of Depreciation, Sinking Fund Method of Depreciation/Annuity Method of Depreciation, Service Output Method of Depreciation, Evaluation of Public Alternatives- Introduction, Examples, Inflation Adjusted Decisions – Procedure to Adjust Inflation, Examples on comparison of alternatives and Determination of Economics Life of asset.
UNIT - IV General Management
Basic concepts of management – Scientific management – Henry Fayal’s principles of management – Types and functions of management. Types of organization – characteristics, merits and demerits. Types of industrial ownership – characteristics, merits and demerits.
UNIT-V Financial Management
Fixed and variable costs – cost ladder – Break even analysis (simple problems) – Types of capital – working capital – Sources of finance (internal and external) - Evaluation of investments – Present Worth Method, Future Worth Method, Annuity Method and Rate of return Methods (simple problems) – Preparation of balance sheet and profit and loss statements.
Text / Reference Books:
1. O.P. Khanna, “Industrial Engineering and Management”, Dhanpat Rai& sons,1999. 2. R.PannerSelvam, “Production and Operations Management”, PHI Learning, 2002. 3. Mart and Telsang – Industrial Engineering and Production Management, S.Chand and Co., 1998. 4. Shailendra Kale– Production and Operations Management, McGraw Hill, India 2013.