Indian Institution of Industrial Engineering

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A. Economics (Micro and Macro)

1. General cocepts of Economics-Need hierarchy, wants, Production & consumption; Value,
Price Income and Wealth.
2. Concept of utility and Value; Law of diminishing marginal utility.
3. Demand and supply-Determination of demand, Law of demand, Demand curve and
Analysis, Elasticity of demand and its measurement.
4. Market Categories-Perfect competition, Oligopoly, Monopoly, Molopolistic competition,
Price equilibrium.
5. Macro Economics-Income determination, Consumption, Saving and Investment func-
tions.
6. Employment-Full, Partial, under employment, Unemployment and its effect on eco-
nomic stability.
B. Indian Economic Environment
1. Meaning of Economic Development; Various indicators of development; process of
growth.
2. Basic features of Indian Economy: Natural resources of India; National level planning,
Five year plans; Effect of population on economic growth.
3. Agricultural and Co-operative sector-Concept of Agriculture inputs and productivity; Co-
operative movement and its impact on Agriculture and Agrobased industries,
4. Industrial Development, planned and Controlled growth of Industries; Public sector, Pri-
vate sector; Large scale and Small scale industries and their characteristics.
5. Infrastructure in India - Transport, Communication, Power etc; Government policies,
change in government policies, their impact on the economy
TEXT
1. Introduction to Economic Theory-NCERT; New Delhi, 1988
2. Indian Economy-Ruddar Datt and K.P.N. Sundharan; S Chand & co. 1996
3. Indian Economy S.K. Mishra and V.K. Puri, Himalaya publications, 1996
Reference
1. Economics P.A. - Samuelson and W. D. Nordhaus; Tata McGraw Hill Publishing Co.Ltd.
2. Indian Economy - A.N. Agrawal; Wishwa Publication, 1999
3. Centre for Monitoring Indian Economy - CMIE Publication (Recent edn.)
4. Economics & Social Environment (Block 1 to 5) - (Books for MS3 course); IGNOU, New
Delhi.
IE003 : Mathematics for Engineers
A. Calculus
Functions, derivatives and their applications,

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