About the Book:

During most of 20^th century, the subject of Economics (or later called engineering economics) was a part of the Department of Humanities, and included mostly macro-economics and general economic laws. The micro-economic illustrations were more to suit the trade and commerce fields, rather than manufacturing fields. So, this author who was handling this subject used to add on his own, short introduction on additional topics like make or buy decisions, EOQ, value analysis, Cost/benefit analysis for machinery replacement etc. which are needed for the engineering managerial decisions, and so would be of more interest to the engineering students. Later, while looking into the syllabi of foreign universities, especially of New York Canton University, Texas A&M, and even a Turkish university, he found they covered the manufacturing field oriented economic analysis illustrations whichhe was actually teaching,more than the macro-economics.  This fact, which concurred with his concept, motivated him to retain all the teaching notes, to be able to write a book on Engineering economics suitable for engineers. The result is this book, ‘A Text Book of Engineering Economics - the Principles and Applications’, highlighting the engineering applications of economic theories for use of the decision makers of the manufacturing sector.

To conform to the different syllabi of several universities, this book is in three sections

Section I - Introduction to Economics

Section II - Principles of Engineering Economics

Section III - Applications of Engineering Economics

A feature of this book is that the first chapter gives an introduction to engineering economics and then distinguishes it from economic theory in the later chapters, to make the reader appreciate the former topic as significant to his day to day performance, with the emphasis given to the economy-oriented decisions a manager is confronted with, like the make or buy decision or the economic order quantity. Several university syllabi, both Indian and foreign, from where the topics have been chosen, are appended at the end of the book. Another feature of this book is that all the accountancy and finance management topics included in these syllabi are listed, categorized chapter wise and explained. Since each of them need a separate chapter to explain them fully, this book makes an attempt to give short paragraph explanation for them with examples, so as to make the engineer understand them enough so as to get a general knowledge. In addition to the Bibliography at the end of the book, chapter wise indication of books and other references for further reading is done, to aid the reader. Each chapter ends with criteria questions, to enable the reader assess himself, his understanding of the subject.

Contents:

Section – I: Theories and Laws of Economics

1. Introduction to Engineering Economics

2. The Basic Concepts of Economics

3. Categories of Economic System

4. Laws of Demand and Supply

5. Value and Equilibrium Price

6. Wealth and Time Value of Money

7. Cost Accounting for Engineers

8. Corporate Social Responsibilities

Section – II: Principles of Engineering Economics

9. Principles of Management

10. Factors for Production

11. Cost of Production

12. Economies of Scale

13. Demand Forecasting

14. Decision Theory

Section III: Applications of Engineering Economics

15. Total Productive Maintenance

16. Break-Even and Make or Buy Analyses

17. Creativity and Kaizen

18. Material Layout Planning

19. Value Engineering and Engineering Economics

20. Plant Location and Layout

21. Scientific Inventory Control

22. Machinery Replacement Analysis

About the Author:

Prof. D. R. Kiran, B.Sc., B.E., M.Sc. (Eng.), (Ph.D.), FIE(I), FIIIE, FIIProdE,  FIIPlantE, FITTE, FISNT, has a rich practical experience of forty years both in industry and academy. Starting his career in 1968 with Larsen & Toubro, he held top positions like World Bank Adviser/Instructor for Transport Managers in Tanzania, Planning Manager of Rallifan (CF division) and the Principal of a Chennai based Engineering College. He has been in the doctors’ panel for a Ph.D. student in 2008.

In recognition of his services in the field of engineering education, he was presented with the coveted Bharat Excellence Award and Gold Medal for Excellence in Education in New Delhi in 2006. He is listed as an International Expert in Industrial Engineering and Management in the International Directory of Experts and Expertise. He is nominated for the post of Honorary Deputy Director General in India for International Biographical Center.

Earlier during the eighties, he was introduced to Dr. Julius Nyerere, the then President of Tanzania as a Pioneer of Work Study in that country. He was one among few non-political foreigners to be interviewed by the government newspaper of Tanzania

He started his academic career in 1979, and taught subjects like Work Study, Production Planning & Control, Total Quality Management, Professional Ethics and Maintenance Engineering Management and at B.E. level.

He was responsible for the establishments of many student chapters for IIPE and NIQR. His participation in these activities. His career as an Industrial Engineer and as Planning Manager, heading the function of IE as well as PP&C at Rallifan and National Bicycle Co. gave him an opportunity to introduce several systems and procedures in production management.

Having been qualified in Industrial Engineering, he conducted several method study projects both as an internal and external consultant, has motivated him to write books on P.P. & C., Methods Engineering as well as Engineering Economics. providing several case studies on key topics. This is expected to be of immense help to the students as well as the practicing engineers.

Earlier he has authored five engineering text books referred both at BE and PGlevel,

Professional Ethics and Human Values, published by McGraw Hill Education, India,

Maintenance Engineering and Management - Precepts and Practices,

Total Quality Management, Key Concepts and Case Studies,

Production Planning and Control, A Comprehensive Approach and

Work Organization and Methods Engineering.

While the Maintenance Management book has been published in USA by Taylor & Francis, the TQM, PP&C and Methods Engineering books have been published in USA by Elsevier. All the three were launched successfully in Boston. In November 2018, Boston's Cary Library had honored him and listed among the Lexington authors, whose books have been catalogued in the library.