SUBJECTS
MG6863 Engineeriing Economics
Elective IV
Elective V
ME6811 Project Work
MG6863 Engineeriing Economics
L T P C
3 0 0 3
OBJECTIVES:
To enable students to understand the fundamental economic concepts applicable to engineering and to learn the techniques of incorporating inflation factor in economic decision
UNIT I INTRODUCTION TO ECONOMICS
Introduction to Economics- Flow in an economy, Law of supply and demand, Concept of Engineering Economics – Engineering efficiency, Economic efficiency, Scope of engineering economics - Element of costs, Marginal cost, Marginal Revenue, Sunk cost, Opportunity cost, Break-even analysis - V ratio, Elementary economic Analysis – Material selection for product Design selection for a product, Process planning.
UNIT II VALUE ENGINEERING
Make or buy decision, Value engineering – Function, aims, Value engineering procedure. Interest formulae and their applications –Time value of money, Single payment compound amount factor, Single payment present worth factor, Equal payment series sinking fund factor, Equal payment series payment Present worth factor- equal payment series capital recovery factor - Uniform gradient series annual equivalent factor, Effective interest rate, Examples in all the methods.
UNIT III CASH FLOW
Methods of comparison of alternatives – present worth method (Revenue dominated cash flow diagram), Future worth method (Revenue dominated cash flow diagram, cost dominated cash flow diagram), Annual equivalent method (Revenue dominated cash flow diagram, cost dominated cash flow diagram), rate of return method, Examples in all the methods.
UNIT IV REPLACEMENT AND MAINTENANCE ANALYSIS
Replacement and Maintenance analysis – Types of maintenance, types of replacement problem, determination of economic life of an asset, Replacement of an asset with a new asset – capital recovery with return and concept of challenger and defender, Simple probabilistic model for items which fail completely.
UNIT V DEPRECIATION
Depreciation- Introduction, Straight line method of depreciation, declining balance method of depreciation-Sum of the years digits method of depreciation, sinking fund method of depreciation/ Annuity method of depreciation, service output method of depreciation-Evaluation of public alternatives- introduction, Examples, Inflation adjusted decisions – procedure to adjust inflation, Examples on comparison of alternatives and determination of economic life of asset.
TEXT BOOKS:
1. Panneer Selvam, R, “Engineering Economics”, Prentice Hall of India Ltd, New Delhi, 2001.
REFERENCES:
1. Chan S.Park, “Contemporary Engineering Economics”, Prentice Hall of India, 2011.
2. Donald.G. Newman, Jerome.P.Lavelle, “Engineering Economics and analysis” Engg. Press, Texas, 2010.
3. Degarmo, E.P., Sullivan, W.G and Canada, J.R, “Engineering Economy”, Macmillan, New York, 2011.
4. Zahid A khan: Engineering Economy, "Engineering Economy", Dorling Kindersley, 2012
SUBJECTS
Elective IV
1. IE6605 Production Planning and Control
2. MG6071 Entrepreneurship Development
3. ME6013 Design of Pressure Vessels and Piping
4. ME6014 Computational Fluid Dynamics
5. ME6015 Operations Research
REFER ELECTIVE SECTION
SUBJECTS
Elective V
1. ME6016 Advanced I.C. Engines
2. ME6017 Design of Heat Exchangers
3. ME6018 Additive Manufacturing
4. ME6019 Non Destructive Testing and Materials
5. ME6020 Vibration and Noise Control
REFER ELECTIVE SECTION
SUBJECTS
ME6811 Project Work
L T P C
0 0 12 6
OBJECTIVES:
To develop the ability to solve a specific problem right from its identification and literature review till the successful solution of the same. To train the students in preparing project reports and to face reviews and viva voce examination.
The students in a group of 3 to 4 works on a topic approved by the head of the department under the guidance of a faculty member and prepares a comprehensive project report after completing the work to the satisfaction of the supervisor. The progress of the project is evaluated based on a minimum of three reviews. The review committee may be constituted by the Head of the Department. A project report is required at the end of the semester. The project work is evaluated based on oral presentation and the project report jointly by external and internal examiners constituted by the Head of the Department.
OUTCOMES:
On Completion of the project work students will be in a position to take up any challenging practical problems and find solution by formulating proper methodology.
SUBJECTS
