Economics for Engineers

This work is divided into 8 sections covering such topics as: Definition of Economics; Nature of Economic Problem and Production Possibility Curve; Economic Laws; Relation between Science, Engineering, Technology and Economic Development; Basic Concepts; Utility Analysis; Theory of Demand; Demand Forecasting; Elasticity of Demand; Production; Land; Labour; Capital; Entrepreneur; Division of Labour; Laws of Production - Law of Variable Proportions and Returns to Scale; Theory of Costs; Concepts of Revenue; Main Forms of Market - Perfect Competition and Monopoly; Supply and Law of Supply; Role of Demand and Supply in the Determination of Price; Nature of Indian Economy; Privatisation - Merits and Demerits; Globalisation - Merits and Demerits; Elementary Concepts of VAT, GATT, WTO and TRIPS; Price Determination Under Perfect Competition; Price Determination Under Monopoly; and, Price Determination Under Monopolistic Competition.