Department Of Computer Systems Engineering, DUET, Karachi.

Lecture 01
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Engineering Economics
&
Management
(HUM-201) (3+0)

Batch : 2019
Fall 2020
Subject Teacher : Engr. Motia Rani
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Text Book
• Engineering Economy,
By WG Sullivan, EM Wicks & CP koelling,
14th Edition

• Engineering Economy
By Leland Blank & Anthony Tarquin,
Latest Edition
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Topics
• Introduction to Management and Economics,
• Trends of Management,
• Principles of Management,
• Views of Management,
• Economy and its types,
• Introduction to Engineering Management,
• Levels of Management,
• Organization and its Types,
• Five Ms,
• Engineering Decision Making and Economic Implications,
• Management skills,
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Topics
• Engineering Project Lifecycle,
• Management of Engineering Projects,
• Production and Productivity,
• Productivity Measurement,
• Measures of Productive Performance,
• Obstacles and Opportunities,
• Productivity Indicators,
• Minimum Cost Operations,

• Scope Management,
• Time,
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Topics
• Resource and Cost Management,
• Quality Management,
• Risk Management,
• Monitoring and Controlling,
• Work Breakdown Structure (WBS),
• Activity Duration Estimating and Activity Dependencies,
• Critical Path Method and PERT (Program Evaluation and Review Technique)Analysis,
• Cost Estimates and Budget Constraints,
• Engineering Project Control Decisions.
• Human Resource Management,
• Recruitment Process
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Engineering
• Engineering a profession in which knowledge of the mathematical and natural sciences gained
by study, experience and practice is applied with judgment to develop ways to

– Utilize the material and forces economically

– For the benefit of mankind

• Engineering is not a science but application of science

• Nature of engineering – application

• Role of scientist - Discover the universal laws of nature / behavior

• Role of engineer – Apply knowledge to particular situation to produce products and services
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Economics
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Economics
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Basic Concepts of Economics

• Why economics subjects came ?
• Why should we read economics subjects ?
• What is the reason to read economics Subject ?
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Example
Haider
Cleared
His Exam
With 80%
Marks
As a gift His
Mother
Gave him
1000/-
Rupees

Haider Haider’s Mother

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Basic Concept Of Economics

• Why economics subjects came ?
Because of those adjustments

• Why should we read economics subjects ? What is the reason to read economics
Subject ?
Because we have scare resources,
so how to spend with that scare resource,
so that we can fulfil our maximum wishes.
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Economics Definition

• The study of how limited resources is used to satisfy unlimited human wants
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• Adam Smith defines economics firstly who also known as father of

economics.

• Pioneers of the science of economics defined it as a science of wealth. 

• Adam Smith, named his famous book on economics as “An Enquiry into
the Na­ture and Causes of the Wealth of Nations.”

• Economics enquires into the factors that determine wealth of the country
and its growth.
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Engineering Economics
• Engineering economics deals with the methods that enable an individual to take economic
decisions with minimized cost and maximum benefit to business organization
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Management

• Management is a process of planning, decision making, organizing,

leading, motivation and controlling the human resources, financial,

physical, and information resources of an organization to reach its goals

efficiently and effectively.