Economics for Engineers (For MAKAUT)

The book has been written to conform to the syllabi requirement of the Indian technical universities. It meets the needs of engineering students who have to consider and evaluate economic and financial aspects of alternatives before them. Relevant accounting and economic concepts and their use have been explained in precise, adequate and easily comprehensible manner. Each topic covered in it is self-contained and obviates the need for additional reading. There are a large number of solved illustrative examples as also addenda of learning objectives, key words and review questions. Since an engineering economist uses several conversion factors involving time placements, an appendix has been provided explaining the symbols representing these conversion factors, the formulas used for calculating them, together with some illustrative tables.
Being mindful of the fact that an engineering economist needs to combine his own knowledge and expertise with relevant inputs from the disciplines of accounting and economics, the book has been written so as to adequately equip him for this task, identify relevant available options and assess their relative worth and reliability. It also does not ignore the fact that, in practice, the decision maker has to consider several additional issues relating to finance, law, and environment as also long-term financial health and sustainability of the business.