Subject Code & Name: MG25302 – Fundamentals of Economics and Management
Regulation: R-2025
Semester: III (Third Semester)
Branch: B.Tech. Textile Technology (Textile)
Credits / L-T-P: 3 Credits | L-T-P: 3-0-0
Course Objectives
- The course aims to equip students with the skills to apply economic theories to business decisions, focusing on efficiency, inflation, national income, and sustainable development goals.
- The objective of this course is to provide a comprehensive foundation in management functions including planning, organising, and controlling, while simultaneously integrating essential engineering, economic and management principles.
Full Unit-wise Syllabus
Unit I – Fundamentals of Economics and Cost
Introduction to Scope of Engineering Economics - Circular Flow in an Economy - Demand and Supply dynamics - Types of Efficiency - Cost Concepts - Types of Cost - Short-run and Long-run.
Activities: Illustrating demand and supply dynamics in handloom and textile industry
Unit II – Production control
Output Relationship - Make or Buy Decision (Criteria and Approaches) - Inventory Models - Purchase Model - Manufacturing Model (With or Without Shortages) - Depreciation Methods - Problems in Straight Line and Diminishing Balance Method.
Activities: Illustrating cost and product functions in textile industry.
Unit III – Pricing Strategies and Capital Budgeting
Pricing Practices and Strategies - Revenue Concepts - CVP Analysis - Problems in Break-Even Analysis - Value Analysis - Pay-back Period - Net Present Value (NPV) and Internal Rate of Return (IRR) - Project Management Techniques - PERT - CPM Models - Case Analysis.
Activities: Real-world illustrations from the textile industry for captial budgeting.
Unit IV – Foundations of Management, Planning and Organising
Definition of Management - Science or Art - Types of managers - Managerial roles and skills - Evolution of Management - Current trends and issues in Management - Nature and purpose of planning - Planning process - Types of planning - Objectives - Setting objectives - Policies - Planning premises - Planning
Unit V – Tools and Techniques
Activities: Plan a departmental activity event.
Unit VI – Organisational Structure
Nature and purpose of organizing - Formal and informal organization - Organization chart - Organization structure - Types - Line and staff authority - Departmentalization - Delegation of authority - Centralization and decentralization - Job Design - Types of Business organization - Sole proprietorship, partnership, company (public and private sector enterprises)
Activities: Classify organisational structures present in public and private sectors in handloom and textile industry.
Unit VII – Directing, Controlling, and Organizational Behavior
Foundations of individual and group behaviour - Motivation theories and techniques - Job satisfaction and enrichment - Leadership types and theories - Communication process, barriers, and effective communication - IT in Communication - System and process of controlling - Budgetary and non-Budgetary control techniques - Use of computers and IT in Management control - Productivity problems and management - Direct and preventive control - Reporting.
Activities: Evaluate different leadership styles in an textile organisation of your choice.
Course Outcomes (COs)
- CO1: Interpret the fundamental concepts of micro and macroeconomics, including demand supply dynamics and the circular flow of income.
- CO2: Analyze cost output relationships and apply engineering economic techniques (Depreciation, Inventory Models) to minimize operational costs.
- CO3: Apply capital budgeting methods (NPV, IRR) and project management techniques (PERT/CPM) to evaluate project feasibility and scheduling.
- CO4: Understand the impact of macro economic policies and interpret the role of Sustainable Development Goals (SDGs) in modern business.
- CO5: Analyze organizational structures and planning processes to determine the most effective management hierarchy for a given business context.
- CO6: Apply theories of motivation, leadership, and communication to manage teams effectively and solve organizational behavioral issues.
Assessment Pattern (Quick Note)
- Weightage: Continuous Assessment 100% | End Semester Examinations 60%
- Internal methodology: Written Test I & II (60%), Assignment, Presentation, Case Study, Quiz, Simulation, Online Certification, Seminar, Mini project (40%)
Source: Official Anna University – B.Tech. Textile Technology R-2025 Curriculum
Last Updated: September 2026
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