Lesson Plan

Week 1: Basic concepts and principles of Economics, Microeconomic theory, the problems of scarcity. Concept of Engineering Economy.

Week 2: Consumer and producer goods, goods and services, demand & supply concept. Equilibrium, elasticity of demand, elasticity of supply, measures of Economic worth. Price-supply-demand relationship.

Week 3: Perfect competition, monopoly, monopolistic competition and oligopoly

Week 4: Basic accounting equation. Development and interpretation of financial statement-Income statement, Balance sheet and cash flow. Working capital management.

Week 5: Break Even Analysis as a management tool for achieving financial/operation efficiency. Revenue/cost terminologies, behavior of costs. Determination of costs/revenues

Week 6: Selection Between Alternatives: Time value of money and financial internal rate of return.

Week 7: Present value, future value and annuities, Cost-benefit analysis. Selection amongst materials, techniques, design etc. Investment philosophy. Investment alternatives

Week 8: Value analysis procedures. Value engineering procedures. Value analysis versus value engineering. Advantages and applications in different areas. Value analysis in designing and purchasing.

Week 9: Mathematical statement of linear programming problems, graphic solution simplex procedure.

Week 10: Depreciation concept, economic life, methods of depreciation, profit and returns on capital, productivity of capital gain (loss) on the disposal of an asset, depreciation as a tax shield.

Week 11: Engineering management from science to engineering

Week 12: Understanding behavior of people at work

Week 13: Developing engineers, organizing Engineering

Week 13: Managing engineering projects, the market for engineering products

Week 14: Development testing, principles of production, quality, reliability and safety, selling, using, and supporting engineering products

Week 15: Engineering in society, engineering standards

Week 16: Concepts of total quality management (TQM), organizational behavior and industrial psychology.