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MG6863 Engineering Economics Lecture Notes Syllabus Books 2marks & 16marks Questions with answers Anna University Question Papers Collection & MG6863 Engineering Economics Question Bank with answers

Semester : 08 (Eighth)

Department : Mechanical

Year : Fourth Year (4^th Year)

Regulation : 2013

Subject Code / Name : MG6863 Engineering Economics

Content : Question Banks, Books, Lecture Notes, Important Part A 2 Marks Questions and Important Part B 16 Mark Questions

Anna University paper correction seems to be quite easy in such a way that if you have a correct answer with correct key words you can easily score good grades. The university offers various courses in engineering and technology through its affiliated colleges and follows a dual semester system. Every year the university conducts examinations for even semester in May–June and for odd semester in November–December. In order to help students, Civildatas provides MG6863 Engineering Economics 2 marks 16 marks questions with key answers for Students. Students can download the MG6863 Engineering Economics question Bank with answers and can make use of it.

SYLLABUS – MG6863 Engineering Economics

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 making.

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 IV 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.

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MG6863 Engineering Economics Question Bank

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