MG6863 Engineering Economics Notes

MG6863 Engineering Economics Notes Regulation 2013 Anna University free download. Engineering Economics MG6863 Notes pdf free download.

OBJECTIVES MG6863 Engineering Economics Notes:

To enable students to understand the fundamental economic concepts applicable to engineering and to learn the techniques of incorporating inflation factor in economic decision making.

OUTCOMES MG6863 Engineering Economics Notes :

Upon successful completion of this course, students will acquire the skills to apply the basics of economics and cost analysis to engineering and take economically sound decisions.

TEXT BOOKS MG6863 Engineering Economics Notes:

1. Panneer Selvam, R, “Engineering Economics”, Prentice Hall of India Ltd, New Delhi, 2001.

MG6863 Engineering Economics Notes REFERENCES:

1. Chan S.Park, “Contemporary Engineering Economics”, Prentice Hall of India, 2011.

2. Donald.G. Newman, Jerome.P.Lavelle, “Engineering Economics and analysis” Engg. Press, Texas, 2010.

3. Degarmo, E.P., Sullivan, W.G and Canada, J.R, “Engineering Economy”, Macmillan, New York, 2011.

4. Zahid A khan: Engineering Economy, “Engineering Economy”, Dorling Kindersley, 2012.

Efficient functioning of any business organization would enable it to provide goods/services at a lower price.

In the process of managing organizations, the managers at different levels should take appropriate economic decisions which will help in minimizing investment, operating and maintenance expenditures besides increasing the revenue, savings and such other gains of the organization.

These can be achieved through Engineering Economics which deals with the methods that enable one to make economic decisions towards minimizing costs and/or maximizing benefits to business organizations.

This chapter discusses the elements of economics and the interaction between its various components. This is followed by an analysis of the need and scope of engineering economics. Later, elements of cost and break-even analysis are presented.