{"id":865,"date":"2025-04-23T11:50:20","date_gmt":"2025-04-23T11:50:20","guid":{"rendered":"https:\/\/eng.pdn.ac.lk\/mgn\/?page_id=865"},"modified":"2026-03-06T06:32:27","modified_gmt":"2026-03-06T06:32:27","slug":"economic-for-engineers-ma520","status":"publish","type":"page","link":"https:\/\/eng.pdn.ac.lk\/mgn\/economic-for-engineers-ma520\/","title":{"rendered":"Economic for Engineers -MA520"},"content":{"rendered":"\n<p>&nbsp;<\/p>\n<p><style>\n        body {\n            font-family: Arial, sans-serif;\n            background-color: #f9f9f9;\n            margin: 0;\n            padding: 0 0px;\n        }\n        .container {\n            max-width: 1000px;\n            margin: 30px 0;\n            background-color: #fff;\n            padding: 20px;\n            box-shadow: 0 0 10px rgba(0,0,0,0.1);\n        }\n        h2 {\n            color: #800000;\n        }\n        h3 {\n            color: #000000\n        }\n        .section-title {\n            background-color: #fff8dc;\n            padding: 10px;\n            margin-top: 30px;\n            border-top: 2px solid #800000;\n            font-weight: bold;\n            font-size: 1.2em;\n            color: #800000;\n        }\n        .content-block {\n            margin-bottom: 20px;\n        }\n        ol {\n            padding-left: 40px;\n        }\n        li {\n            margin-bottom: 10px;\n        }\n        .bold {\n            font-weight: bold;\n        }\n        .grey-box {\n            background-color:#fff;\n            padding: 15px;\n        }\n        .table-section {\n            display: flex;\n            gap: 20px;\n            margin-top: 20px;\n        }\n        table {\n            border-collapse: collapse;\n            width: 60%;\n            background-color: #fff;\n        }\n        th, td {\n            border: 1px solid #ccc;\n            padding: 8px 12px;\n            text-align: left;\n        }\n        th {\n            background-color: #fff8dc;\n            color: #800000;\n        }\n        .half-table {\n            width: 48%;\n        }\n        .text-left {\n\t\ttext-align: left;\n\t}\n\n\t.text-right {\n    \t\ttext-align: right;\n\t}\n    <\/style><\/p>\n\n\n<p><strong>Credits:<\/strong> 2 <\/p>\n\n<p><strong>Pre-requisites:<\/strong> None <\/p>\n\n<p><strong>Core \/ Optional:<\/strong> Compulsory for Mechanical Engineering \/ Optional for Others <\/p>\n\n<p><strong>Aim(s):<\/strong>To introduce students to basic principles of macroeconomics and microeconomics.<\/p>\n\n\n<p><strong>Intended Learning Outcomes: <\/p><\/strong>\n\n<ol>\n<li>Describe the key ideas that define the economic way of thinking.<\/li>\n<li>Analyse how demand and supply determine prices.<\/li>\n<li>Explain the relationship between a firm&#8217;s output and costs.<\/li>\n<li>Analyse the impact of government interventions in markets and basic macroeconomic concepts of GDP, inflation and unemployment.<\/li>\n<\/ol>\n\n\n<p><strong>Course Content:<\/p><\/strong>\n<ol>\n<li>Basic Economic Concepts: Scarcity; thinking on the margin; opportunity cost; power of trade; comparative advantage; production possibilities frontier.<\/li>\n<li>Supply and Demand: Demand; supply; demand and supply shifters; equilibrium; elasticity; price ceiling and floors.<\/li>\n<li>Costs and Production: Profits and losses; how much should a firm produce; production function.<\/li>\n<li>Government Interventions and Markets: Public goods and private goods; economics of environment; externalities; green economics.<\/li>\n<li>Macroeconomic Concepts: GDP; unemployment; inflation; role of central banking; other measures of development.<\/li>\n<\/ol>\n\n\n<p><strong> Time Allocation:<\/p><\/strong>\n<table>\n<colgroup>\n        <col style=\"width:60%;\">\n        <col style=\"width:40%;\">\n        \n    <\/colgroup>\n<thead>\n<tr>\n<th>Learning component<\/th>\n<th class=\"text-right\">Hours<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Theory<\/td>\n<td class=\"text-right\">15<\/td>\n<\/tr>\n<tr>\n<td>Small group activities<\/td>\n<td class=\"text-right\">7<\/td>\n<\/tr>\n<tr>\n<td>Assignments<\/td>\n<td class=\"text-right\">16<\/td>\n<\/tr>\n<tr>\n<td>Independent Learning<\/td>\n<td class=\"text-right\">62<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p><strong> Marks Allocation:<\/p><\/strong>\n<table>\n<colgroup>\n        <col style=\"width:60%;\">\n        <col style=\"width:40%;\">\n        \n    <\/colgroup>\n<thead>\n<tbody>\n<tr>\n<th>Assessment<\/th>\n<th class=\"text-right\">Percentage Marks<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Small Group Activities \/ Case Studies \/ Assignments \/ Presentation<\/td>\n<td class=\"text-right\">50%<\/td>\n<\/tr>\n<tr>\n<td>End Semester Examination<\/td>\n<td class=\"text-right\">50%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Credits: 2 Pre-requisites: None Core \/ Optional: Compulsory for Mechanical Engineering \/ Optional for Others Aim(s):To introduce students to basic principles of macroeconomics and microeconomics. Intended Learning Outcomes: Describe the key ideas that define the economic way of thinking. Analyse how demand and supply determine prices. Explain the relationship between a firm&#8217;s output and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-865","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/pages\/865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/comments?post=865"}],"version-history":[{"count":10,"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/pages\/865\/revisions"}],"predecessor-version":[{"id":2796,"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/pages\/865\/revisions\/2796"}],"wp:attachment":[{"href":"https:\/\/eng.pdn.ac.lk\/mgn\/wp-json\/wp\/v2\/media?parent=865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}