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Engineering economics / Dr. Vijay Kumar Ari, Dr. Randheer Singh Bhinchar.

By: Ari, Vijay Kumar [author.]Contributor(s): Bhinchar, Randheer Singh [author.]Material type: Text

TextPublisher: New Delhi, India : Paradise Press, c2023Edition: First editionDescription: vii, 272 pages : illustrations (black and white)Content type: text Media type: unmediated Carrier type: volumeISBN: 9789395337748 [hardbound]Subject(s): Engineering economy

Contents:

1 Pricing determination under oligopoly market in economics -- 2 Capital flows -- 3 Marginal cost and management -- 4 The investment decision making -- 5 Cash flows -- 6 Theory of public goods and economics -- 7 Inventory management and capital analysis -- Chapter 8 Project cost and management.

Summary: "Engineering economy is the process of making rational and intelligent decision associated with the allocation of scarce resource in circumstances in which alternatives can be enumerated. Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and application of economic principles in the analysis of engineering decisions. As a discipline, it is focused on the branch of economics known as microeconomics in that it studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Thus, it focuses on the decision-making process, its context and environment. It is pragmatic by nature integrating economic theory with engineering practice. But it is also a simplified application of microeconomics theory in that it assumes elements such as price determination, competition and demand/supply to be fixed inputs from other sources, As a discipline through, it is closely related to others such as statistics, mathematics and cost accounting. It draws upon the logical framework of economics but adds to that the analytical power of mathematics and statistics. Engineering economics quantifies the benefits and cost associating with engineering projects to determine if they save enough money to warrant their capital investments. Engineering economics requires the application of engineering design and analysis principles to provide goods and services that satisfy the consumer at an affordable cost. This book is provides engineers with skills to assess the costs and benefits of engineering investments, such as product and technology development programs and capital purchases." --Backcover

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Item type	Current location	Call number	Status	Date due	Barcode
Subject Reference	College Annex Library Subject Reference	620.330 Ar41 2023 (Browse shelf)	Available		3UCBL000028268

Includes bibliographical references and index.

"Engineering economy is the process of making rational and intelligent decision associated with the allocation of scarce resource in circumstances in which alternatives can be enumerated. Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and application of economic principles in the analysis of engineering decisions. As a discipline, it is focused on the branch of economics known as microeconomics in that it studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Thus, it focuses on the decision-making process, its context and environment. It is pragmatic by nature integrating economic theory with engineering practice. But it is also a simplified application of microeconomics theory in that it assumes elements such as price determination, competition and demand/supply to be fixed inputs from other sources, As a discipline through, it is closely related to others such as statistics, mathematics and cost accounting. It draws upon the logical framework of economics but adds to that the analytical power of mathematics and statistics. Engineering economics quantifies the benefits and cost associating with engineering projects to determine if they save enough money to warrant their capital investments. Engineering economics requires the application of engineering design and analysis principles to provide goods and services that satisfy the consumer at an affordable cost. This book is provides engineers with skills to assess the costs and benefits of engineering investments, such as product and technology development programs and capital purchases." --Backcover

Purchased College of Industrial Engineering Industrial Engineering

Text in English

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