CBCGS [2017 - current]
CBGS [2013 - 2016]
Old [2000 - 2012]
University of Mumbai Semester 3 (SE Second Year) Chemical Engineering Economics Revised Syllabus
University of Mumbai Semester 3 (SE Second Year) Chemical Engineering Economics and their Unit wise marks distribution
Units and Topics
| # | Unit/Topic | Marks |
|---|---|---|
| 100 | Introduction to Basic Principles of Economics | - |
| 200 | Demand and Supply Analysis | - |
| 300 | Economics of Production and Growth | - |
| 400 | Cost Accounting | - |
| 500 | Interests and Investment Costs | - |
| 600 | Taxes and Insurance | - |
| 700 | Cost Estimation | - |
| 800 | Profitability, Alternative Investments and Replacements | - |
| Total | - |
Syllabus
100 Introduction to Basic Principles of Economics
- Economics-various definitions
- Concept of Need – hierarchy
- Market - Concept of Price determination under particular market conditions – perfect competition market & monopoly market, causes
- Price Discrimination-concept, types
- Concept of Cost-total cost, fixed and variable cost, direct and indirect cost
- Cost index – definition, types
200 Demand and Supply Analysis
- Law of demand-assumptions and exceptions
- Demand schedule and demand curve
- Determinants of demand
- Changes and variations in demand
- Demand elasticity-definition, types, methods of measurement of elasticity, Income elasticity of demand, types.
- Law of Supply-assumptions and exceptions
- Supply schedule and supply curve
- Determinants of supply, changes and variations in supply
- Supply elasticity-definition, types, determinants
- Methods of measurement of supply
300 Economics of Production and Growth
- Production function-types of production economies
- Diseconomies of scale
- Features of growth
- Growth v/s Development
- Determinants of growth (economic and non-economic)
- Stages of growth
- Growth strategy- steady state and big – push growth strategy; balanced and unbalanced growth
400 Cost Accounting
- Outline of Accounting Procedure
- Basic Relationship in Accounting
- Balance Sheet- types of Asset; Current and Cash Ratio
- Income Statement; Debits and Credits; General format of Journal and Ledger
- Methods of cost accounting
- Accumulation, inventory and cost-of-sales account
- Material cost – Different Methods: current average, fifo, lifo
500 Interests and Investment Costs
- Importance of time value of money- Interest and Interest rate
- Types of Interest – Simple interest (ordinary and exact), Compound interest, Nominal and Effective interest rates, Continuous interest
- Present worth and Discount
- Annuities, Perpetuities and Capitalized costs
- Cash Flow in Chemical Projects
600 Taxes and Insurance
- Concept of taxes and insurance
- Types of Taxes - property tax, excise tax, income tax Capital gain tax, surtax, normal tax
- Insurance types, Legal responsibilities, Self insurance
- Effect of taxes and depreciation on annual income
700 Cost Estimation
- Cash flow to Industrial operation – Tree diagram; Cumulative Cash position
- Factors affecting cost estimation
- Total, fixed, working capital investment
- Breakdown of Fixed capital investment- Direct costs; Indirect costs
- Types of Capital Cost Estimates
- Grass Root plant; Battery limit
- Estimation of equipment cost by scaling (six tenth rule); Components of costs in FCI
- Methods of Cost Estimation
- Estimation of Total Product Cost
- Break even Analysis
800 Profitability, Alternative Investments and Replacements
- Introduction; Profitability Standards
- Mathematical methods for profitability evaluation- Rate of Return on investment method , Discounted cash flow method , Net present worth method, Capitalized Cost method , Pay out period method; Advantages & Disadvantages of Different Profitability Analysis Methods and their comparison
- Alternative investments
- Replacement analysis
- Practical factors affecting investment and replacement decisions
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