Lovely Professional University, Punjab

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1 Lovely Professional University, Punjab Course Code Course Title Course Planner Lectures Tutorials Practicals Credits ECO310 ECONOMICS FOR ENGINEERS 17170::Vishwas Gupta Course Weightage ATT: 5 CA: 20 MTT: 25 ETT: 50 Exam Category: 55: Mid Term Exam: All Subjective End Term Exam: All Subjective Course Orientation COMPETITIVE EXAMINATION (Higher Education), KNOWLEDGE ENHANCEMENT TextBooks ( T ) Sr No Title Author Edition Year Publisher Name T-1 FUNDAMENTALS OF ENGINEERING ECONOMICS Reference Books ( R ) PRAVIN KUMAR 1st 2012 WILEY Sr No Title Author Edition Year Publisher Name R-1 MANAGERIAL ECONOMICS VANITA AGGARWAL 1st 2013 PEARSON R-2 MANAGERIAL ECONOMICS YOGESH MAHESWARI 2nd 2011 PRENTICE HALL Other Reading ( OR ) Sr No Journals articles as Compulsary reading (specific articles, complete reference) OR-1 web.uvic.ca/~ramanik/103s/chapter4m.ppt, OR-2 OR-3 OR-4 OR-5 Relevant Websites ( RW ) Sr No (Web address) (only if relevant to the course) Salient Features RW-1 Economic survey of India RW-2 Various terms and definition pertaining to economics are given in this site. Quite handy for those students who don't have prior knowledge about Micro and Macroeconomics RW-3 This website is like library of macroeconomic theory RW-4 The national bureau of economic research RW-5 This website provides data and video lectures which are useful to understand economic conditions

2 LTP week distribution: (LTP Weeks) Weeks before MTE 7 Weeks After MTE 7 Spill Over (Lecture) 7 Detailed Plan For Lectures Week Number Lecture Number Broad Topic(Sub Topic) Week 1 Lecture 1 Introduction(Law of demand) Chapters/Sections of Text/reference books Other Readings, Relevant Websites, Audio Visual Aids, software and Virtual Labs Lecture Description T-1:01 OR-1 Lecture zero: Introduction, concept, objectives and outcomes of the course Lecture 1: concept of demand, types of demand, law, graph and slope of law Learning Outcomes Pedagogical Tool Demonstration/ Case Study / Images / animation / ppt etc. Planned L0: To describe the economics in the field of engineering L1: Description of concepts of economics covering types and to learn importance Live Examples Introduction(Economic and Static concept of efficiency) Introduction(Concepts of demand) T-1:01 OR-1 Lecture zero: Introduction, concept, objectives and outcomes of the course Lecture 1: concept of demand, types of demand, law, graph and slope of law T-1:01 OR-1 Lecture zero: Introduction, concept, objectives and outcomes of the course Lecture 1: concept of demand, types of demand, law, graph and slope of law L0: To describe the economics in the field of engineering L1: Description of concepts of economics covering types and to learn importance L0: To describe the economics in the field of engineering L1: Description of concepts of economics covering types and to learn importance

3 Week 1 Lecture 2 Introduction(Determinants and shift in demand) Lecture 3 Introduction(Exceptions to the law ) Introduction(Price elasticity ) Introduction(Income elasticity ) Introduction(Cross elasticity ) T-1:01 OR-2 Change in demand, shift in demand, graphical difference and various exception of law of demand T-1:01 OR-2 Change in demand, shift in demand, graphical difference and various exception of law of demand T-1:01 OR-3 Concept, applications of elasticity, types, price income and cross elasticity of demand T-1:01 OR-3 Concept, applications of elasticity, types, price income and cross elasticity of demand T-1:01 OR-3 Concept, applications of elasticity, types, price income and cross elasticity of demand Week 2 Lecture 4 Introduction(Law of supply) T-1:01 OR-4 Introduction, concept and applications of supply, law of supply and various factors affecting supply Lecture 5 Lecture 6 Introduction(Factors shifting supply curve) Introduction(Analysis of changes in market equilibrium) Introduction(Indifference curves) T-1:01 OR-4 Introduction, concept and applications of supply, law of supply and various factors affecting supply T-1:01 OR-5 Introduction, concept and applications of market equilibrium, floor price, ceiling price T-1:01 RW-2 Cardinal and ordinal approach, Introduction and concept of indifference curve, properties and slope situations where the law is not applicable situations where the law is not applicable learn to solve numerical problems on elasticity learn to solve numerical problems on elasticity learn to solve numerical problems on elasticity concept of supply and related factors concept of supply and related factors practical concept of market equilibrium student will learn the behavioral approach for marketing and Discussion with and Discussion with and Discussion with

4 Week 3 Lecture 7 Introduction(Budget line) T-1:01 RW-2 Introduction, concept and applications of budget line, consumer equilibrium and slope and its applications Lecture 8 Lecture 9 Macroeconomics(Circular flow of income) Macroeconomics(Meaning of national income) Macroeconomics(Concepts of national income) Week 4 Lecture 10 Macroeconomics(Methods and problems in measuring national income) Lecture 11 Lecture 12 Macroeconomics(Concepts of aggregate demand and aggregate supply) Macroeconomics(Meaning of inflation) Macroeconomics(Types and measures to control inflation) Week 5 Lecture 13 Market structures(meaning of perfect competition) R-1:01 and 02 RW-3 Introduction to macroeconomics and its importance, circular flow of income and expenditure in two sector, three sector and four sector economy R-1:03 RW-4 Introduction, concept of national income, national income aggregates and measure of national income R-1:03 RW-4 Introduction, concept of national income, national income aggregates and measure of national income R-1:03 RW-5 Methods to measure the national income, product, income and expenditure approach and the advantages and disadvantages involved in each R-1:05 07 and 08 RW-1 Introduction, aggregate demand and aggregate supply in two sector, three sector and four sector economy R-1:19 20 RW-1 Inflation, introduction, meaning, measurement, control of inflation, indexation R-1:19 20 RW-1 Inflation, introduction, meaning, measurement, control of inflation, indexation T-1:03 R-2:03 RW-5 Introduction, concept of perfect competition, features, demand curve in perfect competition, price determination under short run and long run, shutdown point the applications of budget line day to day life learn about the basic concept of national income learn how to calculate the national income learn how to calculate the national income come to know various measures to compute the national income concept of aggregate demand and aggregate supply inflation and it can be controlled inflation and it can be controlled various aspects of perfect competition

5 Week 5 Lecture 13 Market structures(features of perfect competition) Lecture 14 Lecture 15 Market structures(price perfect competition) Market structures(meaning of monopoly) Market structures(features of monopoly) Market structures(price monopoly) Market structures(types and sources of monopoly) T-1:03 R-2:03 T-1:03 R-2:03 RW-5 RW-5 Introduction, concept of perfect competition, features, demand curve in perfect competition, price determination under short run and long run, shutdown point Introduction, concept of perfect competition, features, demand curve in perfect competition, price determination under short run and long run, shutdown point T-1:03 RW-4 Meaning of monopoly, Features of monopoly, demand curve in monopoly, Price monopoly and types and sources of monopoly T-1:03 RW-4 Meaning of monopoly, Features of monopoly, demand curve in monopoly, Price monopoly and types and sources of monopoly T-1:03 RW-4 Meaning of monopoly, Features of monopoly, demand curve in monopoly, Price monopoly and types and sources of monopoly T-1:03 RW-4 Meaning of monopoly, Features of monopoly, demand curve in monopoly, Price monopoly and types and sources of monopoly Assignment,Test1 various aspects of perfect competition various aspects of perfect competition the various applications of monopoly market the various applications of monopoly market the various applications of monopoly market the various applications of monopoly market

6 Week 6 Lecture 16 Market structures(meaning and features of monopolistic competition) Lecture 17 Lecture 18 Market structures(price monopolistic competition) Market structures(meaning and types of oligopoly) Market structures (Characteristics of oligopoly) Demand forecasting (Characteristics of forecasts) Demand forecasting(steps to forecasting) Demand forecasting (Forecasting methods) Week 7 Lecture 19 Demand forecasting (Seasonal adjustments) T-1:03 RW-3 Meaning, concept and features of monopolistic competitions, demand curve in monopolistic competitions, price monopolistic competition T-1:03 RW-3 Meaning, concept and features of monopolistic competitions, demand curve in monopolistic competitions, price monopolistic competition T-1:03 RW-3 Meaning and types of oligopoly, characteristics of oligopoly, Kinked demand curve T-1:03 RW-3 Meaning and types of oligopoly, characteristics of oligopoly, Kinked demand curve T-1:04 RW-3 Introduction, meaning, concept and Characteristics of forecasts, Steps to forecasting, Forecasting methods T-1:04 RW-3 Introduction, meaning, concept and Characteristics of forecasts, Steps to forecasting, Forecasting methods T-1:04 RW-3 Introduction, meaning, concept and Characteristics of forecasts, Steps to forecasting, Forecasting methods T-1:04 Seasonal adjustment, multiple seasonal method and Forecasting performance measures practical aspects of monopolistic competitions practical aspects of monopolistic competitions the practical aspects of oligopoly market the practical aspects of oligopoly market applications and deamdn forecasting applications and deamdn forecasting applications and deamdn forecasting students will learn how to compute the demand forecasting Problem Solving

7 Week 7 Lecture 19 Demand forecasting (Forecasting performance measures) T-1:04 Seasonal adjustment, multiple seasonal method and Forecasting performance measures SPILL OVER Week 7 Lecture 20 Spill Over Lecture 21 Week 8 Lecture 22 Project management (Features of a project) Lecture 23 Lecture 24 Project management(types of projects) Project management(project appraisal) Project management(project structure) Project management(project scheduling through PERT/CPM) Project management(project scheduling through PERT/CPM) Week 9 Lecture 25 Time value of money (Present worth analysis) Spill Over MID-TERM T-1:06 RW-2 Introduction, features of a project, types of projects, project appraisal, project structure T-1:06 RW-2 Introduction, features of a project, types of projects, project appraisal, project structure T-1:06 RW-2 Introduction, features of a project, types of projects, project appraisal, project structure T-1:06 RW-2 Introduction, features of a project, types of projects, project appraisal, project structure T-1:06 T-1:06 L 23: Project scheduling L 24: Concept of critical path, determination of critical path L 23: Project scheduling L 24: Concept of critical path, determination of critical path T-1:09 OR-5 Introduction, simple interest, compound interest, Normal and effective interest rate and present worth analysis students will learn how to compute the demand forecasting be introduced to project management and how it is applicable in today's busienss be introduced to project management and how it is applicable in today's busienss be introduced to project management and how it is applicable in today's busienss be introduced to project management and how it is applicable in today's busienss L 23-24: The students will learn the practical applications of project scheduling L 23-24: The students will learn the practical applications of project scheduling numerical aspects of time value of money Problem Solving

8 Week 9 Lecture 25 Time value of money (Normal and effective interest rate) Lecture 26 Lecture 27 Time value of money(future worth analysis) Time value of money (Annual cash flow analysis) Time value of money(rate of return analysis) Time value of money (Continuous compounding) Week 10 Lecture 28 Capital budgeting(capital financing and allocation functions) Lecture 29 Lecture 30 Capital budgeting(sources of capital funds) Capital budgeting(capital asset pricing model) Capital budgeting(weighted average cost of capital) Capital budgeting(leasing decisions) Capital budgeting(capital allocation) T-1:09 OR-5 Introduction, simple interest, compound interest, Normal and effective interest rate and present worth analysis T-1:09 T-1:09 T-1:09 T-1:09 Annuity, present value of annuity, future value of annuity Annuity, present value of annuity, future value of annuity Rate of return analysis, future value, periods and continuous compounding Rate of return analysis, future value, periods and continuous compounding T-1:17 OR-5 Introduction, capital financing and allocation functions, Sources of capital funds, debt and equity T-1:17 OR-5 Introduction, capital financing and allocation functions, Sources of capital funds, debt and equity T-1:17 T-1:17 T-1:17 T-1:17 Capital asset pricing model, its applications and weighted average cost of capital Capital asset pricing model, its applications and weighted average cost of capital Various leasing decisions, lease vs debt, and capital allocations Various leasing decisions, lease vs debt, and capital allocations numerical aspects of time value of money To learn the practical annuity in day to day life To learn the practical annuity in day to day life numerical aspects of time value of money numerical aspects of time value of money To understand how corporate companies do manage the funds To understand how corporate companies do manage the funds To know how to compute the cost of capital To know how to compute the cost of capital student will compare the lease and debt decisions student will compare the lease and debt decisions

9 Week 11 Lecture 31 Inventory control(objectives of ) T-1:18 OR-3 Meaning, objectives of functions of inventory under stocking and overstocking of inventory To know about the inventory model and its applications Inventory control(functions of inventory) T-1:18 OR-3 Meaning, objectives of functions of inventory under stocking and overstocking of inventory To know about the inventory model and its applications Inventory control (Understocking and overstocking of inventory) T-1:18 OR-3 Meaning, objectives of functions of inventory under stocking and overstocking of inventory To know about the inventory model and its applications Lecture 32 Inventory control(analysis of inventory) T-1:18 OR-1 analysis of inventory, costs involved in inventory continuous and periodic review systems To know how to calculate the cost involved in inventory analysis Inventory control(costs involved in inventory) T-1:18 OR-1 analysis of inventory, costs involved in inventory continuous and periodic review systems To know how to calculate the cost involved in inventory analysis Inventory control (Continuous and periodic review systems) T-1:18 OR-1 analysis of inventory, costs involved in inventory continuous and periodic review systems To know how to calculate the cost involved in inventory analysis Lecture 33 Inventory control(economic order quantity models) T-1:18 economic order quantity models reorder point order quantity for variable demand To compute various measures of Inventory control(reorder point) T-1:18 economic order quantity models reorder point order quantity for variable demand To compute various measures of

10 Week 11 Lecture 33 Inventory control(order quantity for variable demand) T-1:18 economic order quantity models reorder point order quantity for variable demand To compute various measures of Week 12 Lecture 34 Indian economy(overview of Indian economy) Lecture 35 Lecture 36 R-2:06 Introduction, meaning and overview of Indian economy Reforms since independence in various sectors Indian economy(reforms) R-2:06 Introduction, meaning and overview of Indian economy Reforms since independence in various sectors Indian economy (Urbanization) Week 13 Lecture 37 Indian economy (Unorganized sector) Lecture 38 Lecture 39 Indian economy (Unorganized sector) Indian economy(external sectors) Week 14 Lecture 40 Indian economy(challenges and issues in monetary and fiscal policy) R-2:06 R-1:09 R-1:09 R-1:09 T-1: Introduction, meaning and concept of urbanization, rural India and smart city concept Assignment,Test3 L 37: secotrial economy, organized and unorganized sector, problems of unorganized sectors L 38: Contingency lecture L 37: secotrial economy, organized and unorganized sector, problems of unorganized sectors L 38: Contingency lecture Introduction, meaning and concept of external sectors and its impact on Indian economy Fiscal Policy, Monetary Policy, features, need and implications on Indian ecoonomy SPILL OVER Week 14 Lecture 41 Spill Over Lecture 42 Spill Over students will various aspects of Indian economy students will various aspects of Indian economy need of smart city concept in India know the difference between organized and unorganized sector in India know the difference between organized and unorganized sector in India To know the types and affect of external sector on Indian economy To know how RBI governs the economy

11 Week 15 Lecture 43 Spill Over Lecture 44 Lecture 45 Spill Over Spill Over Scheme for CA: Component Frequency Out Of Each Marks Total Marks Assignment,Test Total : Details of Academic Task(s) Test1 AT No. Objective Topic of the Academic Task Nature of Academic Task (group/individuals/field work Assignment1 Test2 To gauge the understanding of the students To enhance the conceptual understanding of students and enable them to correlate theoretical concepts with real life issues by inputting teamwork in them To check the understanding of the students Test will be conducted from Unit 1 of the syllabus Individual 6 analytical and conceptual type question of 5 marks each will be asked Students will be divided in groups of 3 students each and an assignment will be given to each group. Thereafter, students are required to evaluate in team and give peer rating on the task accomplished Group Evaluation Mode Allottment / submission Week Preferably analytical assignments will be given to each group for solving in team. Predetermined ruberics will be used by the teacher to evaluate assignment of the group. All team members will give peer rating before final submission. Test will be conducted from Unit 4 and Unit 5 of the syllabus. Individual 6 analytical and conceptual type question of 5 marks each will be asked 4 / 5 5 / / 12