PCC-CE309 Engineering Economics, Estimation & Costing

Module 1:Basic Principles and Methodology of Economics. Demand/Supply – elasticity – Government Policies and Application. Theory of the Firm and Market Structure. Basic Macro-
economic Concepts (including GDP/GNP/NI/Disposable Income) and Identities for both closed and open economies. Aggregate demand and Supply (IS/LM). Price Indices (WPI/CPI), Interest rates,
Direct and Indirect Taxes

Module 2: Public Sector Economics –Welfare, Externalities, Labour Market. Components of Monetary and Financial System, Central Bank –Monetary Aggregates; Commercial Banks & their functions; Capital and Debt Markets. Monetary and Fiscal Policy Tools & their impact on the economy – Inflation and Phillips Curve.

Module 3:Elements of Business/Managerial Economics and forms of organizations. Cost & Cost Control –Techniques, Types of Costs, Lifecycle costs, Budgets, Break even Analysis, Capital Budgeting, Application of Linear Programming. Investment Analysis – NPV, ROI, IRR, Payback Period, Depreciation, Time value of money (present and future worth of cash flows). Business Forecasting – Elementary techniques. Statements – Cash flow, Financial. Case Study Method.

Module 4:Indian economy - Brief overview of post-independence period – plans. Post reform Growth, Structure of productive activity. Issues of Inclusion – Sectors, States/Regions, Groups of people (M/F), Urbanization. Employment–Informal, Organized, Unorganized, Public, Private. Challenges and Policy Debates in Monetary, Fiscal, Social, External sectors.

Module 5:Estimation / Measurements for various items- Introduction to the process of Estimation; Use of relevant Indian Standard Specifications for the same, taking out quantities from the given requirements of the work, comparison of different alternatives, Bar bending schedules, Mass haul Diagrams, Estimating Earthwork and Foundations, Estimating Concrete and Masonry, Finishes, Interiors, MEP works; BIM and quantity take-offs; adding equipment costs; labour costs; rate analysis; Material survey-Thumb rules for computation of materials requirement for different materials for buildings, percentage breakup of the cost, cost sensitive index, market survey of basic materials. Use of Computers in quantity surveying

Module 6: Specifications-Types, requirements and importance, detailed specifications for buildings, roads, minor bridges and industrial structures.

Module 7: Rate analysis-Purpose, importance and necessity of the same, factors affecting, task work, daily output from different equipment/ productivity.

Module 8: Tender- Preparation of tender documents, importance of inviting tenders, contract types, relative merits, prequalification. general and special conditions, termination of contracts, extra work and Changes, penalty and liquidated charges, Settlement of disputes, R.A. Bill & Final Bill, Payment of advance, insurance, claims, price variation, etc. Preparing Bids- Bid Price buildup: Material, Labour, Equipment costs, Risks, Direct & Indirect Overheads, Profits; Bid conditions, alternative specifications; Alternative Bids. Bid process management

Module 9: Introduction to Acts pertaining to-Minimum wages, Workman's compensation,
Contracts, Arbitration, Easement rights.

Text/Reference Books:
1. Mankiw Gregory N. (2002), Principles of Economics, Thompson Asia
2. V. Mote, S. Paul, G. Gupta(2004), Managerial Economics, Tata McGraw Hill
3. Misra, S.K. and Puri (2009), Indian Economy, Himalaya
4. Pareek Saroj (2003), Textbook of Business Economics, Sunrise Publishers
5. M Chakravarty, Estimating, Costing Specifications & Valuation
6. Joy P K, Handbook of Construction Management, Macmillan 7. B.S. Patil, Building & Engineering Contracts 8. Relevant Indian Standard Specifications.
9. World Bank Approved Contract Documents.
10. FIDIC Contract Conditions.
11. Acts Related to Minimum Wages, Workmen’s Compensation, Contract, and Arbitration

12. Typical PWD Rate Analysis documents.
13. UBS Publishers & Distributors, Estimating and Costing in Civil Engineering: Theory and Practice including Specification and Valuations,2016
14. Dutta, B.N., Estimating and Costing in Civil Engineering (Theory & Practice), UBS Publishers, 2016