Engineering Economics and Accountancy

Description

PART A: ECONOMICS

Chapter-1: Introduction to Economics 
1.1: Definitions of the term ‘Economics’ 15
1.2: Microeconomics vs. Macroeconomics 17
1.3: Utility: Meaning in Economics 19
1.3.1: Utility and Satisfaction 19
1.3.2: Approaches to Utility Analysis (Cardinal and Ordinal Utility Analysis) 20
1.3.2.a: Cardinal Utility 20
1.3.2.b: Ordinal Utility 21
1.3.3: Concepts Associated with the Concept of Utility 21
1.3.4: Theories Based on Cardinal Utility Approach 21
1.3.4.a: The Cardinal Utility Theory 22
1.3.4.b: Law of Diminishing Marginal Utility 23
1.4. Consumption 24
1.4.1: Importance of the concept of Consumption 25
1.4.2: Types of Consumption 26
1.4.3: Factors Influencing Consumption 26
1.4.4: Important Discussion on Consumption 29
1.4.4.a: The linear Aggregate Consumption Function 29
1.4.4.b: MPC (Marginal Propensity to Consume) and APC 29
(Average Propensity to Consume) 30
1.5: Value 30
1.5.1: Value-in-use 30
1.5.2: Value-in-exchange 30
1.5.3: Water Diamond Paradox 30
1.6: Price 30
1.7: Goods 32
1.7.1: Classification of Goods 32
1.8: National Income 34
1.8.1: Certain Important Concepts Associated with National Income: 35
1.8.2: Methods of Measuring National Income 37
1.8.3: Usage of National Income Estimates 37
1.9: Saving 38
1.9.1: Average Propensity to Save (APS) and Marginal Propensity to Save (MPS) 39
1.9.2: Paradox of Thrift 40
1.10: Investment 40
1.11: E-commerce 42
1.11.1: The Impact of E-commerce 42
1.11.2: Benefits of E-commerce 42
1.11.3: Disadvantages of E-commerce 43
1.12: Wants: Meaning, Definition 431.12.1: Characteristics of Wants 44
1.13: Wealth: Definition and Meaning 45
1.13.1: Types of Wealth 45
1.13.2: Characteristics of Wealth 47
Questions for Review 48
Chapter-2: Demand and Supply
2.1: Meaning of Demand 50
2.1.1: Demand Function 51
2.1.2: Types of Demand 51
2.2: Elasticity of Demand 52
2.3: The Law of Demand and Its Limitations 53
2.3.1: Assumptions of Law of Demand 53
2.3.2: Demand Schedule and Demand Curve 53
2.4: Exceptions to the Law of Demand 55
2.5: The Market Demand 56
2.5.1: Contraction and Expansion of Demand vs Increase and Decrease in Demand 57
2.6: Meaning of Supply 59
2.6.1: Determinants of Supply of a Good (Factors Determining Supply) 59
2.6.2: Law of Supply: 60
2.6.3: Assumptions Associated the Law of Supply 60
2.6.4: Exceptions of Law of Supply 60
2.6.5: Individual Supply Schedule and Market Supply Schedule 60
2.6.6: Supply Curve 62
2.6.7: Expansion and Contraction of Supply 62
2.6.8: Shifting of Supply Curve 63
Questions for Review 64
Chapter-3: Production
3.1 Meaning of Production 66
3.1.1: Factors of Production 66
3.2: Efficiency of Labour 67
3.2.1: Labour Efficiency Ratio 68
3.2.2: Labour Capacity Ratio 68
3.2.3: Labour Production Volume Ratio 68
3.2.4: Factors that Determine Efficiency of Labour 68
3.3: Division of Labour 70
3.4: Capital Formation 72
3.4.1: Factors that Determine Capital Formation 73
3.5: Localisation of Industry 74
3.5.1: Factors Influencing Localization of Industries 75
3.5.2: Advantages and Disadvantage of Localisation 76
3.6: Economies of Scale and Economies of Scope 77
3.7: Classification of Industry 78
3.7.1. Small scale industries in an Economy (Special reference to Assam) 80
3.7.2. Role of small scale industries in an Economy (Special reference to Assam) 81
3.7.3. Problems of small scale industries of Assam 82
3.7.4. Large-scale industries in Assam 83
3.7.5. Prospects of large-scale industries in Assam 833.8. Unemployment 84
3.8.1. Types of Unemployment 84
3.8.2. Unemployment in Assam 85
3.8.3. Problems of disguised unemployment in Assam 86
3.8.4. Measures for reducing unemployment 86
Questions for Review 87
Chapter-4: Money
4.1: Meaning of Money 89
4.1.1: Evolution of the Term Money 89
4.1.2: Qualities of Good money 91
4.2: Measures of Money Supply 92
4.2.1: The Liquidity Aggregates 92
4.2.2: New Monetary Aggregates 93
4.3: Monetary Standard 93
4.4: Principles of Note Issue 95
4.4.1: Printing Currency and Minting of Coins 96
4.4.2: Gresham’s Law 96
4.5: Types of Money 96
4.5.1: Near Money Assets 101
4.6: Functions of Money 101
4.6.1: Primary Functions 101
4.6.2: Secondary Functions 102
4.6.3: Contingent Functions 103
4.7: Value of Money 104
4.7.1: Standards of Value of Money 104
4.7.2: Changes in Value of Money and its Measurement 104
Questions for Review 105
Chapter-5: Banking Organisations
5.1: Banking System 107
5.1.1: Central Bank 107
5.1.1a: Genesis and Evolution of the Reserve Bank of India (RBI) 108
5.1.2: Functions of the Central Bank 109
5.1.3: Functions of the Reserve Bank of India 109
5.1.4: Quantitative Measures’ and the ‘Qualitative Measures’ of Credit Control
Adopted by the Central Bank
5.2: Other Important Instruments of RBI 112
5.2.1: Organisation Structure of Reserve Bank of India 113
5.3.1: Commercial Banks 114
5.3.2: Origin of the Term 114
5.3.3: Functions of Commercial Banks 115
5.3.4: Internet Banking 119
5.3.5: Characteristics Features of Internet-Banking 119
5.3.6: Advantages of Internet Banking 120
5.3.7: Commercial Banks in India 121
Questions for Review 126

Chapter-6: Market 
6.1 Meaning of market 128
6.2 Types of market 129
6.2. a. Parameters for classification of markets 129
6.2.1. Perfect competition 130
6.2.2. Monopoly: Meaning 131
6.2.2.1The characteristics of monopoly 131
6.2.2.2 Sources of Monopoly 131
6.2.2.3 Kinds of monopoly 132
6.2.3 Monopolistic Competition 132
6.2.3.1 The main features of monopolistic competition 133
6.2.4 Oligopoly 133
6.2.4.1 Types of oligopoly 133
6.2.4.2 Features of oligopoly 134
6.2.5 Special types of market 134
6.2.5.1 Oligopsony 134
6.2.5.2 Monopsony 135
6.2.5.3 Bilateral Monopoly 135
6.3.1. Price and Pricing policy 135
6.3.2. Objectives of pricing policy 135
6.3.3. Price-setting methods 136
6.3.4. Price-adaptation strategies 136
6.3.5. Price determinants 139
6.3.6. Price discrimination 140
Questions for Review 142
Compendium 142-152

Part-B : Accountancy
Chapter-7(A) : Introduction to Book Keeping and Accountancy ……………………………………………….. 155-171
Chapter-7(B) : Introduction to Computerized Accounting System ……………………………………………. 172-176
Chapter-8 : Transactions ………………………………………………………………………………………………………….. 177-182
Chapter-9 : Journal and Ledger ………………………………………………………………………………………………… 183-204
Chapter-10 : Cash Book ……………………………………………………………………………………………………………. 205-220
Chapter-11 : Trial Balance & Error in Accounting ………………………………………………………………….. 221-225
Chapter-12 : Preparation of Final Account ………………………………………………………………………………. 226-246
List of References : 247