About Economics for Engineers (UCHUT346)
Economics for Engineers (UCHUT346) is a 2-credit course in the KTU B.Tech 2024 scheme, common to all branches and taught in semester 3 or 4, depending on the college. It introduces the economics every engineer needs: how demand, supply and costs work, how firms and markets behave, how money, inflation and taxes affect the economy, and how to judge whether a project is worth doing.
Syllabus
- Module 1: Basic economic concepts: utility, the laws of demand and supply, elasticity, market equilibrium, and production functions and economies of scale.
- Module 2: Cost and revenue concepts, types of firms, and market structures: perfect competition, monopoly, monopolistic competition and oligopoly.
- Module 3: Money and banking, inflation and deflation, monetary and fiscal policy, taxation and GST, national income, and the stock market (SENSEX and NIFTY).
- Module 4: Value analysis and value engineering, break-even analysis, cost-benefit analysis, and capital budgeting.
Exam pattern
The end-semester exam is for 50 marks: 6 short questions of 3 marks each, plus 4 questions of 8 marks each, one from each module. Internal assessment adds another 50 marks, from attendance, an assignment or case study, and two internal exams.
Study tips
Learn the key definitions and draw the standard graphs neatly: demand and supply curves, cost curves and the break-even chart. Practise the break-even and elasticity problems, and solve previous question papers to spot repeated questions.
Notes and resources
Find module-wise notes, previous year question papers and the syllabus for UCHUT346 here, shared by KTU students and teachers.