HS-311 Engineering Economics
Teaching Scheme			Credit	Marks Distribution			Duration of End Semester Examination
L	T	P		Internal Assessment	End Semester Examination	Total
2	0	0	2	Maximum Marks: 40	Maximum Marks: 60	100	3 Hours
				Minimum Marks: 16	Minimum Marks: 24	40

Unit-I

Introduction: Definition , Nature , Scope , Importance and significance of Economics. Distinction between Micro and Macroeconomics. Concept of Utility and Its Types.

Demand and Supply: Meaning , Demand Function , Law of Demand. Elasticity of Demand, Types, Measurement and importance. Demand Forecasting and its techniques and importance. Concept of Supply , Law of supply.

Unit-II

Production Function: Concept and types , Returns to Factor and Returns to Scale , Law of Variable Proportions.

Cost and Revenue: Concept of Cost, Short run and Long-run Cost Curves , Relationships among various costs , Break-even Analysis. Revenue: Concept and its Types.

Unit-III

Market Structure: Price Determination under Different Market Structure i.e. Perfect Competition , Monopoly , Monopolistic Competition Oligopoly.

Reserve Bank of India: Nature , Organisation Structure , Objectives , Function of RBI.

Monetary Policy and Fiscal Policy: Meaning, Objectives and Its tools and Techniques of Monetary Policy and Fiscal Policy.

Unit-IV

National Income: Definition of National Income and its Aggregates , Methods of Calculating National Income.

Inflation: Meaning , Types , Theories , Causes , Effects and Control.

Business Cycle - Meaning - Phases of business cycle.