Course Detail:


Engineering Economics

3 Credit Hour Course

Intended For Level 4 Term 1 Students


Economics and engineering; microeconomics and macroeconomics; theory of demand and supply and their elasticities; demand estimation; price determination; indifference curve technique; theory of production; theory of cost and cost estimation; market structure; national income accounting; depreciation; circular flow of income and expenditure; cost-benefit analysis;pay back period, net present value (NPV), internal rate of return (IRR), inflaction; economic feasibility of engineering undertakings; development economics.