HD20: INDUSTRIAL ECONOMICS AND MANAGEMENT

NATURE AND SIGNIFICANCE OF ECONOMICS

Science, Engineering and Technology and their relationship with economics development, appropriate technology for development countries

DEMAND AND SUPPLY ANALYSIS

Elasticity, Competition, Monopoly, Oligopoly, Monopolistic competition, Price Discrimination, Equilibrium of firm .

FUNCTION OF MONEY

Supply and Demand for money, Inflation, Black Money.

FUNCTIONS OF COMMERCIAL BANK

Multiple credit creation, Banking systems in India.

CENTRAL BANKING

Functions of Central Banking, monetary policy.

SOURCES OF PUBLIC REVENUE

Principles of taxation, Direct and Indirect taxes , reform of tax system.

THEORY OF INTERNATIONAL TRADE

Balance of trade and payment, Theory of protection, Exchange control, Devaluation.

NEW ECONOMICS POLICY

Liberalization, Extending , Privatization, Globalization, Market- Friendly state, Export led growth.

CAUSES OF UNDERDEVELOPMENT

Determinants of economic development, stages of economics growth, Strategy of development, Critical minimum effort strategy .

MANAGEMENT FUNCTIONS

Developments of management thought, Contribution of F.W. Taylor, Henri Fayol, Elton-Mayo, System Approach to Management .

NATURE OF PLANNING

Decision making process, MBO.

ORGANIZATION

Line and Staff relationships, Decentralization of delegation of authority .

COMMUNICATION PROCESS

Media Channels and barriers to effective communication .

THEORY OF MOTIVATION

Maslow, Herzberg and McGregor Theory of motivation, McClelland’s achievement theory.

PRODUCTION MANAGEMENT

Production Planning and control, inventory control, quality control, total quality management.

PROJECT MANAGEMENT

Project Development life cycle, project feasibility, CPM, PERT.

COST ACCOUNTING AND FINANCE

Techniques of Financial Control, Financial Statements Financial Ratios, Break-even analysis, Budgeting and budgetary control.

MARKETING FUNCTIONS

Management of Sales and advertising, Marketing research .

HUMAN RESOURCE MANAGEMENT

Functions, Selection, Training.

ENGINEERING ECONOMICS

Investment Decisions, Payback time .