MG2452 ENGINEERING ECONOMICS AND FINANCIAL ACCOUNTING
UNIT I INTRODUCTION
Managerial Economics - Relationship with other disciplines - Firms: Types, objectives and goals - Managerial decisions - Decision analysis.
UNIT II DEMAND & SUPPLY ANALYSIS
Demand - Types of demand - Determinants of demand - Demand function - Demand elasticity - Demand forecasting - Supply - Determinants of supply - Supply function - Supply elasticity.
UNIT III PRODUCTION AND COST ANALYSIS
Production function - Returns to scale - Production optimization - Least cost input - Isoquants - Managerial uses of production function. Cost Concepts - Cost function – Types of Cost - Determinants of cost - Short run and Long run cost curves - Cost Output Decision - Estimation of Cost.
UNIT IV PRICING
Determinants of Price - Pricing under different objectives and different market structures - Price discrimination - Pricing methods in practice – role of Government in pricing control.
UNIT V FINANCIAL ACCOUNTING (ELEMENTARY TREATMENT)
Balance sheet and related concepts - Profit & Loss Statement and related concepts - Financial Ratio Analysis - Cash flow analysis - Funds flow analysis - Comparative financial statements - Analysis & Interpretation of financial statements. Investments - Risks and return evaluation of investment decision - Average rate of return
- Payback Period - Net Present Value - Internal rate of return.
TEXT BOOKS:
1. McGuigan, Moyer and Harris, 'Managerial Economics; Applications, Strategy and Tactics', Thomson South Western, 10th Edition, 2005.
2. Prasanna Chandra. 'Fundamentals of Financial Management', Tata Mcgraw Hill Publishing Ltd., 4th edition, 2005.
REFERENCES:
1. Samuelson. Paul A and Nordhaus W.D., 'Economics', Tata Mcgraw Hill Publishing Company Limited, New Delhi, 2004.
2. Paresh Shah, 'Basic Financial Accounting for Management', Oxford University Press, New Delhi, 2007.
3. Salvatore Dominick, 'Managerial Economics in a global economy'. Thomson South Western, 4th Edition, 2001
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