Managerial Economics & Financial Analysis

Managerial economics as defined by Edwin Mansfield is "concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision."It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.It draws heavily from quantitative techniques such as regression analysis, correlation and calculus.If there is a unifying theme that runs through most of managerial economics, it is the attempt to optimize business decisions given the firm's objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for
strategic decisions,and other computational methods.

Almost any business decision can be analyzed with managerial economics techniques, but it is most commonly applied to:
Risk analysis - various models are used to quantify risk and asymmetric information and to employ them in decision rules to manage risk.
Production analysis - microeconomic techniques are used to analyze production efficiency, optimum factor allocation, costs, economies of scale and to estimate the firm's cost function.
Pricing analysis - microeconomic techniques are used to analyze various pricing decisions including transfer pricing, joint product pricing, price discrimination, price elasticity estimations, and choosing the optimum pricing method.
Capital budgeting - Investment theory is used to examine a firm's capital purchasing decisions.


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Design of Machine Members

                   Design is essentially a decision-making process. If we have a problem, we need to design a solution. In other words, to design is to formulate a plan to satisfy a particular need and to create something with a physical reality. Consider for an example, design of a chair. A number of factors need be considered first:
(a) The purpose for which the chair is to be designed such as whether it is to be used as an easy chair, an office chair or to accompany a dining table.
(b) Whether the chair is to be designed for a grown up person or a child.
(c) Material for the chair, its strength and cost need to be determined.
(d) Finally, the aesthetics of the designed chair.
Almost everyone is involved in design, in one way or the other, in our daily lives because problems are posed
and they need to be solved.

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Power Plant Engineering

                          Power engineering, also called power systems engineering, is a subfield of electrical engineering that deals with the generation, transmission and distribution of electric power as well as the electrical devices connected to such systems including generators, motors and transformers. Although much of the field is concerned with the problems of three-phase AC power - the standard for large-scale power transmission and distribution across the modern world - a significant fraction of the field is concerned with the conversion between AC and DC power as well as the development of specialized power systems such as those used in aircraft or for electric railway networks. It was a subfield of electrical engineering before the
emergence of energy engineering.

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Strength of Materials

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                        Mechanics of materials, also called strength of materials, is a subject which deals with the behavior of objects withstanding stresses and strains. This theory was established on the basis of mathematical modeling in first and second principal stress, specifically because types of stress state in construction parts such beam and shell are possible to approximate as one or two dimensional one. An important founding pioneer in mechanics of materials was Stephen Timoshenko.

                       The study of strength of materials often refers to various methods of calculating stresses in structural members, such as beams, columns and shafts. The methods employed to predict the response of a structure under loading and its susceptibility to various failure modes may take into account various properties of the materials other than material yield strength and ultimate strength; for example, failure by buckling is dependent on material stiffness and thus Young's Modulus.

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Design and Manufacturing

1.Design and Manufacturing:
Cource Description:


         Welcome to 2.007! This course is a first subject in engineering design. With your help, this course will be a great learning experience exposing you to interesting material, challenging you to think deeply, and providing skills useful in professional practice. A major element of the course is design of a robot to participate in a challenge that changes from year to year. This year, the theme is cleaning up the planet as inspired by the movie Wall-E.

From its beginnings in 1970, the 2.007 final project competition has grown into an Olympics of engineering. See this MIT News story for more background, a photo gallery, and videos about this course.
Technical Requirements

Special software is required to use some of the files in this course:
 zip, .sldprt, .xls, .swj, .sldasm, .rpt, .xlo, .igs, .rm, .ord, and .dxf.
                                     
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2.Design and Manufacturing:
Course Description:

                     This course introduces you to modern manufacturing with four areas of emphasis: manufacturing processes, equipment/control, systems, and design for manufacturing. The course exposes you to integration of engineering and management disciplines for determining manufacturing rate, cost, quality and flexibility. Topics include process physics, equipment design and automation/control, quality, design for manufacturing, industrial management, and systems design and operation. Labs are integral parts of the course, and expose you to various manufacturing disciplines and practices.

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3.Design and Manufacturing:
Course Description

                       Integration of design, engineering, and management disciplines and practices for analysis and design of manufacturing enterprises. Emphasis is on the physics and stochastic nature of manufacturing processes and systems, and their effects on quality, rate, cost, and flexibility. Topics include process physics and control, design for manufacturing, and manufacturing systems. Group project requires design and fabrication of parts using mass-production and assembly methods to produce a product in quantity.

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Engineering Mechanics

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                        Applied mechanics is a branch of the physical sciences and the practical application of mechanics. Applied mechanics examines the response of bodies (solids and fluids) or systems of bodies to external forces. Some examples of mechanical systems include the flow of a liquid under pressure, the fracture of a solid from an applied force, or the vibration of an ear in response to sound. A practitioner of the discipline is known as a mechanician.

                       Applied mechanics, as its name suggests, bridges the gap between physical theory and its application to technology. As such, applied mechanics is used in many fields of engineering, especially mechanical engineering. In this context, it is commonly referred to as engineering mechanics. Much of modern engineering mechanics is based on Isaac Newton's laws of motion while the modern practice of their application can be traced back to Stephen Timoshenko, who is said to be the father of modern engineering mechanics.........................

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Quantitative Aptitude by R S Agarwal

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                           Quantitative Aptitude is a book that’s popular among every student who’s registered for competitive exams or job interviews. It remains a bestseller till date, mainly because of its comprehensive nature. Summary of Quantitative Aptitude:

                           Often considered as the absolute bible for every aspirant, Quantitative Aptitude by R. S. Aggarwal helps students prepare for competitive exams and job interviews. The book covers an array of topics and its content is split across two sections: Arithmetic Ability and Data Interpretation. The book features extensive examples and exercises that cover topics like HCF/LCM, Decimal Fractions, Profit and Loss, Time and Distance, Chain Rule, Surds and Indices, Age Problems, Simple and Compound Interest, Probability, Heights and Distances, Volume and Surface Areas and Permutations and Combinations under the broad umbrella of Arithmetic Ability...............................

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Fundamentals of Thermodynamics

Details:

Title: Fundamentals of Engineering Thermodynamics
Authors: Michael J. Moran, Howard N. Shapiro
Year: 2006 (Fifth Edition)
Language: English
Format: PDF
OCR: Yes
Pages: 896
Size: 75,5 MB

Contents:

Chapter 01: Getting Started: Introductory Concepts and Definitions
Chapter 02: Energy and the First Law of Thermodynamics
Chapter 03: Evaluating Properties
Chapter 04: Control Volume Analysis Using Energy
Chapter 05: The Second Law of Thermodynamics
Chapter 06: Using Entropy
Chapter 07: Exergy Analysis
Chapter 08: Vapor Power Systems
Chapter 09: Gas Power Systems
Chapter 10: Refrigeration and Heat Pump Systems
Chapter 11: Thermodynamic Relations
Chapter 12: Ideal Gas Mixtures and Psychrometric Applications
Chapter 13: Reacting Mixtures and Combustion
Chapter 14: Chemical and Phase Equilibrium
-Tables, Figures and Charts
-Answer to Selected Problems


PDF book: Fundamentals of Engineering Thermodynamics, 5th Edition Moran, Shapiro
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-Index

Foundary Technology

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From the Publisher:
                      Peter Beeley was a foundry manager before he became a senior lecturer in metallurgy, and subsequently maintained continuous links with the castings industry and associated research activities and publications. His book is designed to serve as a bridge between the study of the basic principles of metal founding and their application in the producing and user industries. A particular aim of Foundry Technology is to assist engineers and engineering students in appreciating the role of castings in design and materials selection.Orthodox and specialised casting processes, and both ferrous and non-ferrous founding are considered on a comparative basis, and the place of castings in design is critically examined and related to other products.The revised edition takes account of the main changes in casting processes and products since the publication of the original edition in 1972. Whilst retaining treatments of basic aspects of moulding, solidification, cast structures and feeding, newer developments in modelling and rapid prototyping are reviewed, together with quality, environmental, health and other issues of growing importance.........

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Engineering Economics Park

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                    Engineering economics, previously known as engineering economy, is a subset of economics for application to engineering projects. Engineers seek solutions to problems, and the economic viability of each potential solution is normally considered along with the technical aspects.

In some U.S. undergraduate engineering curricula, engineering economics is often a required course.[citation needed] It is a topic on the Fundamentals of Engineering examination, and questions might also be asked on the Principles and Practice of Engineering examination; both are part of the Professional Engineering registration process.

Considering the time value of money is central to most engineering economic analyses. Cash flows are discounted using an interest rate, i, except in the most basic economic studies.

For each problem, there are usually many possible alternatives. One option that must be considered in each analysis, and is often the choice, is the do nothing alternative. The opportunity cost of making one choice over another must also be considered. There are also noneconomic factors to be considered, like color, style, public image, etc.; such factors are termed attributes.

Costs as well as revenues are considered, for each alternative, for an analysis period that is either a fixed number of years or the estimated life of the project. The salvage value is often forgotten, but is important, and is either the net cost or revenue for decommissioning the project...............

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Engineering Drawing

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                             Engineering drawing (ABC) and artistic drawing are both types of drawing, and either may be called simply "drawing" when the context is implicit. Engineering drawing shares some traits with artistic drawing in that both create pictures. But whereas the purpose of artistic drawing is to convey emotion or artistic sensitivity in some way (subjective impressions), the purpose of engineering drawing is to convey information (objective facts).One of the corollaries that follows from this fact is that, whereas anyone can appreciate artistic drawing (even if each viewer has his own unique appreciation), engineering drawing requires some training to understand (like any language); but there is also a high degree of objective commonality in the interpretation (also like other languages).In fact, engineering drawing has evolved into a language that is more precise and unambiguous than natural languages; in this sense it is closer to a programming language in its communication ability. Engineering drawing uses an extensive set of conventions to convey information very precisely, with very little ambiguity. Along with these they are both drawing..........................

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Nano Technology

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                            Nanotechnology (sometimes shortened to "nanotech") is the manipulation of matter on an atomic and molecular scale. The earliest, widespread description of nanotechnology referred to the particular technological goal of precisely manipulating atoms and molecules for fabrication of macroscale products, also now referred to as molecular nanotechnology. A more generalized description of nanotechnology was subsequently established by the National Nanotechnology Initiative, which defines nanotechnology as the manipulation of matter with at least one dimension sized from 1 to 100 nanometers. This definition reflects the fact that quantum mechanical effects are important at this quantum-realm scale, and so the definition shifted from a particular technological goal to a research category inclusive of all types of research and technologies that deal with the special properties of matter that occur below the given size threshold. It is therefore common to see the plural form "nanotechnologies" as well as "nanoscale technologies" to refer to the broad range of research and applications whose common trait is size. Because of the variety of potential applications (including industrial and military), governments have invested billions of dollars in nanotechnology research. Through its National Nanotechnology Initiative, the USA has invested 3.7 billion dollars. The European Union has invested 1.2 billion and Japan 750 million dollars......................

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Thermal Engineering

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                          Thermodynamics is a branch of natural science concerned with heat and its relation to energy and work. It defines macroscopic variables (such as temperature, internal energy, entropy, and pressure) that characterize materials and radiation, and explains how they are related and by what laws they change with time. Thermodynamics describes the average behavior of very large numbers of microscopic constituents, and its laws can be derived from statistical mechanics................

                         Thermodynamics applies to a wide variety of topics in science and engineering—such as engines, phase transitions, chemical reactions, transport phenomena, and even black holes. Results of thermodynamic calculations are essential for other fields of physics and for chemistry, chemical engineering, aerospace engineering, mechanical engineering, cell biology, biomedical engineering, and materials science—and useful in other fields such as economics...............................

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Machine Drawing

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An engineering drawing, a type of technical drawing, is used to fully and clearly define requirements for engineered items.

Engineering drawing (the activity) produces engineering drawings (the documents). More than just the drawing of pictures, it is also a language—a graphical language that communicates ideas and information from one mind to another.Most especially, it communicates all needed information from the engineer who designed a part to the workers who will make it..............................

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Robotics

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                           Robotics is the branch of technology that deals with the design, construction, operation, and application of robots,as well as computer systems for their control, sensory feedback, and information processing. These technologies deal with automated machines that can take the place of humans in dangerous environments or manufacturing processes, or resemble humans in appearance, behavior, and/or cognition. Many of today's robots are inspired by nature contributing to the field of bio-inspired robotics.
The concept of creating machines that can operate autonomously dates back to classical times, but research into the functionality and potential uses of robots did not grow substantially until the 20th century.Throughout history, robotics has been often seen to mimic human behavior, and often manage tasks in a similar fashion. Today, robotics is a rapidly growing field, as technological advances continue, research, design, and building new robots serve various practical purposes, whether domestically, commercially, or militarily. Many robots do jobs that are hazardous to people such as defusing bombs, exploring shipwrecks, and mines.....................

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Mechanical Vibrations

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                      Vibration is a mechanical phenomenon whereby oscillations occur about an equilibrium point. The oscillations may be periodic such as the motion of a pendulum or random such as the movement of a tire on a gravel road.Vibration is occasionally "desirable". For example the motion of a tuning fork, the reed in a woodwind instrument or harmonica, or mobile phones or the cone of a loudspeaker is desirable vibration, necessary for the correct functioning of the various devices.More often, vibration is undesirable, wasting energy and creating unwanted sound – noise. For example, the vibrational motions of engines, electric motors, or any mechanical device in operation are typically unwanted. Such vibrations can be caused by imbalances in the rotating parts, uneven friction, the meshing of gear teeth, etc. Careful designs usually minimize unwanted vibrations.............................................

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CAD/CAM

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                   Computer-aided design (CAD) is the use of computer systems to assist in the creation, modification, analysis, or optimization of a design.CAD software is used to increase the productivity of the designer, improve the quality of design, improve communications through documentation, and to create a database for manufacturing.CAD output is often in the form of electronic files for print, machining, or other manufacturing operations...............

                     Computer-aided manufacturing (CAM) is the use of computer software to control machine tools and related machinery in the manufacturing of workpieces.This is not the only definition for CAM, but it is the most common;CAM may also refer to the use of a computer to assist in all operations of a manufacturing plant, including planning, management, transportation and storage.Its primary purpose is to create a faster production process and components and tooling with more precise dimensions and material consistency, which i.............................

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Industrial Management

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                        Industrial engineering is a branch of engineering dealing with the optimization of complex processes or systems. It is concerned with the development, improvement, implementation and evaluation of integrated systems of people, money, knowledge, information, equipment, energy, materials, analysis and synthesis, as well as the mathematical, physical and social sciences together with the principles and methods of engineering design to specify, predict, and evaluate the results to be obtained from such systems or processes. Its underlying concepts overlap considerably with certain business-oriented disciplines such as operations management, but the engineering side tends to emphasize extensive mathematical proficiency and usage of quantitative methods..........................

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Heat Transfer

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                      Heat transfer is a discipline of thermal engineering that concerns the generation, use, conversion, and exchange of thermal energy and heat between physical systems. Heat transfer is classified into various mechanisms, such as thermal conduction, thermal convection, thermal radiation, and transfer of energy by phase changes. Engineers also consider the transfer of mass of differing chemical species, either cold or hot, to achieve heat transfer. While these mechanisms have distinct characteristics, they often occur simultaneously in the same system..........

                       Heat conduction, also called diffusion, is the direct microscopic exchange of kinetic energy of particles through the boundary between two systems. When an object is at a different temperature from another body or its surroundings, heat flows so that the body and the surroundings reach the same temperature, at which point they are in thermal equilibrium. Such spontaneous heat transfer always occurs from a region of high temperature to another region of lower temperature, as described by the second law of thermodynamics......................

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Refrigeration and Air Conditioning

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                   Refrigeration is a process in which work is done to move heat from one location to another. The work of heat transport is traditionally driven by mechanical work, but can also be driven by heat, magnetism, electricity, laser, or other means. Refrigeration has many applications, including, but not limited to: household refrigerators, industrial freezers, cryogenics, and air conditioning. Heat pumps may use the heat output of the refrigeration process, and also may be designed to be reversible, but are...................

                   Air conditioning is the process of altering the properties of air (primarily temperature and humidity) to more favourable conditions. More generally, air conditioning can refer to any form of technological cooling, heating, ventilation, or disinfection that modifies the condition of air.................

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