B.Tech (Electronics and Instruments Engg)

Course Objective :

The purpose of this course is to :

1. Acquaint the student in the basic economic concepts and
their operational significance and
2. Stimulate him to think systematically and objectively about
contemporary economic problems.
UNIT - I
Definition of Economics - various definitions, Nature of
Economic problem, Production possibility curve Economic laws
and their nature. Relation between Science, Enginering,
Technology and Economics.
UNIT-II
Concepts and measurement of utility, Law of Diminishing
Marginal Utility, Law of Equi-marginal utility - its practical
application and importance.
UNIT-III
Meaning of Demand, Individual and Market demand schedule,
Law of demand, shape of demand curve, Elasticity of demand,
measurement of elasticity of demand, factors effecting elasticity
of demand, practical importance and applications of the concept
of elasticity of demand.
UNIT-IV
Meaning of production and factors of production; Law of
variable proportions, Returns to scale, Internal and External
economics and diseconomies of scale.