B.Tech. Degree Programme Electrical Engineering - Lingaya's ...

Lingaya’s University, FaridabadDETAILED SYLLABUSGEN., BSM, ESTA, DEPT. CORE & ELECTIVEBA-225ECONOMICSL T P Cr5 0 0 3BA-226PRINCIPLES OF L T P CrMANAGEMENT 5 0 0 3OBJECTIVEThe purpose of this course is to• Acquaint the students in the basic economicconcepts and their operational significance and• Stimulate him to think systematically and objectivelyabout contemporary economic problems.1. INTRODUCTION: Definition of economics;difference between micro and macro economics;central problems of economy including PP curve;factors of production2. UTILITY: concept and measurement of utility;Law of Diminishing Marginal Utility (DMU);derivation of Law of Demand from Law of DMU;Law of Equimarginal Utility (EMU) – its practicalapplications3. DEMAND: What is demand and supply; shift indemand and extension of demand; law of demandand law of supply; demand function; demandschedule; elasticity of demand; measurement ofelasticity of demand; factors affecting elasticity ofdemand; role of demand and supply in pricedetermination and effect of changes in demandand supply on prices4. PRODUCTION FUNCTIONS: Meaning ofproduction and production functions; Law ofVariable Proportion; returns to scale, internaland external economies and diseconomies ofscale.5. COSTS: Various concepts of costs: fixed cost,variable cost, average cost, marginal cost,opportunity cost; shape of average cost,marginal cost, total cost etc. in short run andlong run.6. MARKET STRUCTURES: What is market; mainfeatures of perfect competition; monopoly;oligopoly; monopolistic competition.7. MACRO ECONOMICS: Macro economics: briefconcepts of GDP, GNP, NI, per capita income;inflation; privatization; globalization (merits &demerits); elementary concepts of VAT, WTO,GATT and TRIPSTEXT BOOKHirshey M., “Managerial Economics”, ThomsonLearning, 2007REFERENCE BOOKS1. Monroe Kent B., “Pricing Making ProfitableDecisions”, McGraw Hill, New York, 20062. Keat Paul B., and Young Philip K. Y.,“Managerial Economics - Economic Tools forToday’s Decision Makers”, Pearson Education,2003OBJECTIVETo acquaint the students with various concepts ofmanagement which will be very basic to appreciate thesubject.1. INTRODUCTION: Meaning of management,definitions of management, characteristics ofmanagement, management vs. administration;management: art, science and profession;importance of management; Fayol’s principles ofmanagement; the management functions;interrelationship of managerial functions.2. FORMS: Forms of organizational structure (line,line & staff, functional); delegation of authority;centralization & decentralization.3. GROUPS: Formal & informal groups; stages inteam development, empowerment concept,significance; changing nature of managerial work;outsourcing.4. CORPORATE SOCIAL RESPONSIBILITY:Corporate social responsibility – meaning;responsibility towards different stakeholders;ethics in management – meaning; factors effectingethical choices.5. STAFFING: Nature and significance of staffing;human resource management - functions of humanresource management; human resource planning;process of human resource planning; recruitment,selection; promotion-seniority vs. merit.6. MARKETING MANAGEMENT: Marketingmanagement – definition of marketing, marketingconcept, objectives and functions of marketing;marketing mix (basics of 4Ps of marketing);difference between goods and services; steps ofpersonal selling.7. FINANCIAL MANAGEMENT: Introduction offinancial management; objectives of financialmanagement; functions and importance of financialmanagement; brief introduction to the concept ofcapital structure and various sources of finance.TEXT BOOKChhabra T. N., “Principles and Practice ofManagement”, Dhanpat Rai Publishers, 2008REFERENCE BOOKS1. Aggarwal R. D., “Organization and Management”,Tata McGraw Hill, 19952. Prasad L. M., “Principles and Practice ofManagement”, Sultan Chand & Sons, 20053. Harold, Koontz and O’Doneell Cyril,“Management”, McGraw Hill, 19684. Sherlekar S. A., “Marketing Management”,Himalaya Publishing House, 200923