ECTS - Engineering Economy
Engineering Economy (IE305) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Engineering Economy | IE305 | 5. Semester | 2 | 0 | 0 | 2 | 5 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | Compulsory Departmental Courses |
| Course Level | Bachelor’s Degree (First Cycle) |
| Mode of Delivery | Face To Face |
| Learning and Teaching Strategies | Lecture, Question and Answer. |
| Course Lecturer(s) |
|
| Course Objectives | This course aims to introduce the economic dimension of evaluating and selecting alternative investment projects. By the end of the course, the student will be able to investigate engineering economy problems, and formulate and solve such problems using appropriate conceptual and mathematical skills and modeling structures. |
| Course Learning Outcomes |
The students who succeeded in this course;
|
| Course Content | Economic analysis for engineering and managerial decision-making; cash flows, effect of time and interest rate on money and physical assets; methods of evaluating alternatives: present worth, future worth, annual worth, rate-of-return and benefit/cost ratios; depreciation and taxes; effects of inflation. |
Weekly Subjects and Releated Preparation Studies
| Week | Subjects | Preparation |
|---|---|---|
| 1 | Introduction and Estimating Costs | [1] Chapter 11 |
| 2 | Foundations of Engineering Economy | [1] Chapter 1 |
| 3 | Foundations of Engineering Economy | [1] Chapter 1 |
| 4 | How time and interest affect money | [1] Chapter 2 |
| 5 | How time and interest affect money | [1] Chapter 2 |
| 6 | Nominal and effective interest rates | [1] Chapter 3 |
| 7 | Present worth analysis | [1] Chapter 4 |
| 8 | Midterm | [1] Chapter 11, 1, 2, 3, 4 |
| 9 | Annual worth analysis | [1] Chapter 5 |
| 10 | Rate of return analysis | [1] Chapter 6 |
| 11 | Benefit/Cost analysis and public sector projects | [1] Chapter 7 |
| 12 | Effects of inflation | [1] Chapter 10 |
| 13 | Depreciation methods | [1] Chapter 12 |
| 14 | After-tax economic analysis | [1] Chapter 13 |
| 15 | Final Exam | [1] Chapter 11, 1, 2, 3, 4, 5, 6, 7, 10, 12, 13 |
Sources
| Course Book | 1. Basics of Engineering Economy, Leland Blank, Anthony Tarquin, McGraw-Hill Education |
|---|---|
| Other Sources | 2. Contemporary Engineering Economics, CS Park, 3rd Edition, Addison Wesley, 1997. |
| 3. Engineering Economy, GJ Thuesen & WJ Fabrycky, 9th Edition, Prentice Hall, 2001 |
Evaluation System
| Requirements | Number | Percentage of Grade |
|---|---|---|
| Attendance/Participation | - | - |
| Laboratory | - | - |
| Application | - | - |
| Field Work | - | - |
| Special Course Internship | - | - |
| Quizzes/Studio Critics | - | - |
| Homework Assignments | - | - |
| Presentation | - | - |
| Project | - | - |
| Report | - | - |
| Seminar | - | - |
| Midterms Exams/Midterms Jury | 1 | 40 |
| Final Exam/Final Jury | 1 | 60 |
| Toplam | 2 | 100 |
| Percentage of Semester Work | 40 |
|---|---|
| Percentage of Final Work | 60 |
| Total | 100 |
Course Category
| Core Courses | |
|---|---|
| Major Area Courses | |
| Supportive Courses | X |
| Media and Managment Skills Courses | |
| Transferable Skill Courses |
The Relation Between Course Learning Competencies and Program Qualifications
| # | Program Qualifications / Competencies | Level of Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Applies knowledge in mathematics, science, and computing to solve engineering problems related to manufacturing technologies. | X | ||||
| 2 | Analyzes and identifies problems specific to manufacturing technologies. | |||||
| 3 | Develops an approach to solve encountered engineering problems, and designs and conducts models and experiments. | X | ||||
| 4 | Designs a comprehensive manufacturing system (including method, product, or device development) based on the creative application of fundamental engineering principles, within constraints of economic viability, environmental sustainability, and manufacturability. | X | ||||
| 5 | Selects and uses modern techniques and engineering tools for manufacturing engineering applications. | |||||
| 6 | Effectively uses information technologies to collect and analyze data, think critically, interpret, and make sound decisions. | |||||
| 7 | Works effectively as a member of multidisciplinary and intra-disciplinary teams or individually; demonstrates the confidence and necessary organizational skills. | |||||
| 8 | Communicates effectively in both spoken and written Turkish and English. | |||||
| 9 | Engages in lifelong learning, accesses information, keeps up with the latest developments in science and technology, and continuously renews oneself. | |||||
| 10 | Demonstrates awareness and a sense of responsibility regarding professional, legal, ethical, and social issues in the field of Manufacturing Engineering. | |||||
| 11 | Effectively utilizes resources (personnel, equipment, and costs) to enhance national competitiveness and improve manufacturing industry productivity; conducts solution-oriented project and risk management; and demonstrates awareness of entrepreneurship, innovation, and sustainable development. | X | ||||
| 12 | Considers the health, environmental, social, and legal consequences of engineering practices at both global and local scales when making decisions. | |||||
ECTS/Workload Table
| Activities | Number | Duration (Hours) | Total Workload |
|---|---|---|---|
| Course Hours (Including Exam Week: 16 x Total Hours) | 15 | 2 | 30 |
| Laboratory | |||
| Application | |||
| Special Course Internship | |||
| Field Work | |||
| Study Hours Out of Class | 15 | 5 | 75 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | |||
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 1 | 8 | 8 |
| Prepration of Final Exams/Final Jury | 1 | 12 | 12 |
| Total Workload | 125 | ||