MANAGEMENT AND ENGINEERING ECONOMICS(15ME51)CBCS SCHEME AND SYLLABUS,NOTES

Posted by: INDUDHAR GAVASI

MANAGEMENT AND ENGINEERING ECONOMICS  
[AS PER CHOICE BASED CREDIT SYSTEM (CBCS) SCHEME] 
SEMESTER – V 

Subject Code - 15ME51
IA Marks - 20  
Number of Lecture Hours/Week - 03 
Exam Hours - 03  
Tutorial - 02
Exam Marks 80  
Credits – 04   

Course outcomes 
On completion of this subject students will be able to 
1.Understand needs, functions, roles, scope and evolution of Management 
2.Understand importance, purpose of Planning and hierarchy of planning and also analyze its types 
3.Discuss Decision making, Organizing, Staffing, Directing and Controlling 
4.Select the best economic model from various available alternatives 
5.Understand various interest rate methods and implement the suitable one. 
6. Estimate   various depreciation values of commodities 
7. Prepare the project reports effectively. 

MODULE – 1  

Management: Introduction - Meaning - nature and characteristics of Management, Scope and Functional areas of management - Management as a science, art of profession - Management & Administration - Roles of Management, Levels of Management, Development of Management Thought - early management approaches – Modern management approaches. 
Planning: Nature, importance and purpose of planning process Objectives - Types of plans (Meaning Only) - Decision making Importance of planning - steps in planning & planning 
premises - Hierarchy of plans.  10 Hours 

MODULE - 2 

Organizing And Staffing: Nature and purpose of organization Principles of organization - Types of organization - Departmentation Committees- Centralization Vs Decentralization of authority and responsibility - Span of control - MBO and MBE (Meaning Only) Nature and importance of staffing- -:Process of Selection & Recruitment (in brief). 
Directing & Controlling: Meaning and nature of directing Leadership styles, Motivation Theories, Communication - Meaning and importance - coordination, meaning and importance and Techniques of Co Ordination. Meaning and steps in controlling - Essentials of a sound control system - Methods of establishing control (in brief)     10 Hours 


MODULE -3 

Introduction: Engineering and economics, Problem solving and decision making, Laws of demand and supply, Difference between Microeconomics & Macroeconomics, equilibrium between demand & supply, elasticity of demand, price elasticity, income elasticity. 
 Law of Returns, Interest and interest factors, simple and compound interest, Cash flow diagrams, personal loans and EMI payment calculation with flexible interest rates, Discussion 
and problems  10 Hours 


MODULE -4 

Present, future and annual worth and rate of returns: Basic present worth comparisons, Present worth-equivalence, Assets with unequal lives and infinites lives, future worth comparisons, payback comparisons, Equivalent annual worth comparisons, situations for annual worth comparisons. 
Asset life, Rate of return, minimum acceptable rate of return, IRR anomalies and misconceptions, Cost of capital, comparisons of all present future and annual worth with IRR, 
product costing, Discussions and problems    10 Hours 

MODULE -5 

Costing and depreciation: Components of costs, estimation of selling price, marginal cost, first cost, all kinds of overheads, indirect cost estimation with depreciation, mensuration and estimation of material cost, cost estimation of mechanical process, idling time.  
Product costing (approaches to product costing), causes of depreciation, methods of computing depreciation charges, straight line method, declining balance method, sum of years method, sinking fund method, service output methods, taxation concepts, personal income taxes and 
corporate taxes, Discussions and problems.  10 Hours 

TEXT BOOKS 

1. Principles of Management by Tripathy and Reddy 
2. Mechanical estimation and costing, T.R. Banga & S.C. Sharma, 17th edition 2015 
3. Engineering Economy, Riggs J.L. McGraw Hill, 2002 
4. Engineering Economy, Thuesen H.G. PHI , 2002 

REFERENCE BOOKS 

1.Management Fundamentals - Concepts, Application, Skill Development - Robers Lusier -                    Thomson 
2.Basics of Engineering Economy, Leland Blank & Anthony Tarquin, McGraw Hill 
    Publication (India) Private Limited  
3.Engineering Economics, R.Paneerselvam, PHI publication 
4.Fundamentals of Management: Essential Concepts and Applications, Pearson Education, Robbins       S.P. and Decenzo David A.  
5.Economics: Principles of Economics, N Gregory Mankiw, Cengage Learning  
     Modern Economic Theory, By Dr. K. K. Dewett & M. H. Navalur, S. Chand Publications


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