Overview of Fundamentals of Engineering Economics Book

Fundamentals of Engineering Economics highlights the importance of economics in engineering and helps engineers in financial decision making. It provides comprehensive coverage of the subject from basic principles to state-of-the-art concepts and applications. The coverage of the topics in this book is very wide, and every care has been made to cover maximum syllabi of all major universities and institutions in India. This book is common to all students in engineering discipline and is very useful in evaluating the economic merits and demerits of various solutions to engineering problems. Moreover, readers from different backgrounds will find the material in this book easily understandable. Engineering problems may involve the decisions related to resources and their allocation. Engineering economics is closely associated with conventional microeconomics; but here, its focus is on problem solving at operational levels. In this book, basic economics that are applicable in engineering education such as demand and supply, production function, introduction to micro- and macroeconomics have been incorporated besides the financial decision making. Special Features ? Three very useful appendices have been supplemented: Statistical Tables and Procedures, End-of-Period Compound Interest Tables, and Answers to Selected Problems. ? Provides wide coverage and better presentation of syllabus of major Indian universities in an easy-to-understand manner. ? Three very useful appendices have been supplemented: Statistical Tables and Procedures, End-of-Period Compound Interest Tables, and Answers to Selected Problems. ? Latest concepts supported by wide variety of solved examples (Practical Examples). ? Numerous worked-out examples provide support in explaining the theories. ? Depicted with the use of figures and tables with sufficient number of examples. ? Appendices for interest table and normal distribution have been provided at the end of this book. ? Excellent pedagogy and student-friendly format having ?Ÿ’????¬ Important Formulae ?Ÿ’????¬ 180+ Figures and Tables ?Ÿ’????¬ 130+ Solved examples ?Ÿ’????¬ 250+ Multiple-choice questions ?Ÿ’????¬ 180+ Review questions ?Ÿ’????¬ 110+ Exercises ?Ÿ’????¬ 160+ Fill in the blanks and True/False questions Table of Content 1 Introduction to Engineering Economics 1.1 Introduction 1.2 Concept of Efficiency 1.3 Theory of Demand 1.4 Elasticity of Demand 1.5 Supply and Law of Supply 1.6 Indifference Curves 1.7 Budget Line 1.8 Welfare Analysis 2 Managerial Economics 2.1 Introduction 2.2 Scope of Managerial Economics 2.3 Techniques of Managerial Economics 2.4 Applications of Managerial Economics 3 Market Structures 3.1 Introduction 3.2 Perfect Competition 3.3 Monopoly 3.4 Monopolistic Competition 3.5 Oligopoly 3.6 Duopoly 3.7 Monopsony 3.8 Monopoly and Monopsony: A Comparison 4 Demand Forecasting and Cost Estimation 4.1 Introduction 4.2 Forecasting Horizons 4.3 Steps to Forecasting 4.4 Forecasting Methods 4.5 Seasonal Adjustments 4.6 Forecasting Performance Measures 4.7 Cost Estimation 4.8 Elements of Cost 4.9 Computation of Material Variances 4.10 Break-Even Analysis 5 Concepts in Management 5.1 Introduction 5.2 Characteristics of Management 5.3 Scope of Management 5.4 Classical School of Management 5.5 Functions of Management 5.6 Levels of Management 5.7 Skills of Management 5.8 Managerial Roles 5.9 Administration and Management 6 Project Management 6.1 Introduction 6.2 Features of a Project 6.3 Types of Projects 6.4 Project Management Life Cycle 6.5 Project Appraisal 6.6 Project Structure 6.7 Terminologies Used in Project Scheduling 6.8 Network Conventions 6.9 Project Crashing (Optimization through CPM) 7 Productivity 7.1 Introduction 7.2 Types of Production Systems 7.3 Production and Productivity 7.4 Efficie