Introduction of Engineering Economics and Demand Analysis: Meaning and nature of Economics, Relation between science, engineering, technology and economics; Meaning of Demand, Determinants of Demand, Shifts in demand, Law of Demand, Price Elasticity of Demand &Types, Income Elasticity, Cross price Elasticity, Determinants of Elasticity, uses and importance of elasticity.
Concept of Supply: Law of Supply, Factors affecting Supply, Elasticity of supply.
Demand Forecasting: Introduction, Meaning and Forecasting, Methods or Techniques of Demand Forecasting, Criteria for Good Demand Forecasting, Demand Forecasting for a New Product;
Cost Analysis- Introduction, Types of Costs, Cost-Output Relationship: Cost Function, Cost-Output Relationships in the Short Run, and Cost-Output Relationships in the Long Run; Short run and long run, Break- Even Analysis; Production functions: laws of variable proportions, law of returns; Economies of scale: Internal and external.
Market Structure: Market Structure Perfect Competition, Imperfect competition – Monopolistic, Oligopoly, duopoly sorbent features of price determination and various market conditions
Nature and characteristics of Indian economy, concepts of LPG, elementary concepts of National Income, Inflation and Business Cycles ,Concept of N.I. and Measurement., Meaning of Inflation, Types and causes , Phases of business cycle .Investment decisions for boosting economy(National income and per capital income)