ECTS - Engineering Economy
Engineering Economy (IE305) Course Detail
Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
---|---|---|---|---|---|---|---|
Engineering Economy | IE305 | 2 | 0 | 0 | 2 | 5 |
Pre-requisite Course(s) |
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N/A |
Course Language | English |
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Course Type | N/A |
Course Level | Bachelor’s Degree (First Cycle) |
Mode of Delivery | Face To Face |
Learning and Teaching Strategies | Lecture, Question and Answer. |
Course Lecturer(s) |
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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;
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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 |
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1 | Foundations of Engineering Economy | [1] pages 1-25 |
2 | How time and interest affect money: single payment formulas | [1] pages 27-33 |
3 | How time and interest affect money: single payment formulas (cont) | [1] pages 27-33 |
4 | How time and interest affect money: uniform series formulas | [1] pages 34-36 |
5 | How time and interest affect money: gradient formulas and shifted cash flows | [1] pages 37-57 |
6 | Nominal and effective interest rates | [1] page 59-78 |
7 | Present worth analysis | [1] page 80-106 |
8 | Annual worth analysis | [1] pages 107-123 |
9 | Rate of return analysis | [1] pages 124-159 |
10 | Benefit/Cost analysis and public sector projects | [1] pages 160-181 |
11 | Effects of inflation | [1] pages 237-258 |
12 | Midterm | |
13 | Unit method, cost indexes, cost-capacity equations, factor method, unit cost estimation | [1] pages 259-286 |
14 | Depreciation methods | [1] pages 287-311 |
15 | After-tax economic analysis | [1] pages 312-347 |
16 | Final Examination Period |
Sources
Course Book | 1. Basics of Engineering Economy, Leland Blank, Anthony Tarquin, McGraw-Hill Education |
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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 | 2 | 60 |
Final Exam/Final Jury | 1 | 40 |
Toplam | 3 | 100 |
Percentage of Semester Work | 60 |
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Percentage of Final Work | 40 |
Total | 100 |
Course Category
Core Courses | |
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Major Area Courses | X |
Supportive Courses | |
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 | An ability to apply knowledge of mathematics, science and engineering to Industrial Engineering; an ability to apply theoretical and practical knowledge to model and solve engineering problems. | |||||
2 | An ability to identify, formulate and solve complex engineering problems; an ability to select and apply proper analysis and modeling methods. | X | ||||
3 | An ability to design a complex system, process, tool or component to meet desired needs within realistic constraints; an ability to apply modern design. | |||||
4 | An ability to develop, select and put into practice techniques, skills and modern engineering tools necessary for engineering practice; an ability to use information technology effectively. | |||||
5 | An ability to design, conduct experiments, collect data, analyze and interpret results for the study of complex engineering problems or disciplinary research topics. | |||||
6 | An ability to work individually, on teams, and/or on multidisciplinary teams. | |||||
7 | Ability to communicate effectively in Turkish orally and in writing; knowledge of at least one foreign language; effective report writing and understand written reports, preparing design and production reports, making effective presentations, giving and receiving clear and understandable instruction. | |||||
8 | A recognition of the need for, and an ability to engage in life-long learning; an ability to use information-seeking tools and to follow the improvements in science and technology. | |||||
9 | An ability to behave according to the ethical principles, an understanding of professional and ethical responsibility. Information on standards used in industrial engineering applications. | |||||
10 | Knowledge of business applications such as project management, risk management and change management. A recognition of entrepreneurship, innovativeness. Knowledge of sustainable improvement. | |||||
11 | Information on the effects of industrial engineering practices on health, environment and security in universal and societal dimensions and the information on the problems of the in the field of engineering of the era. Awareness of the legal consequences of engineering solutions. | |||||
12 | An ability to design, development, implementation and improvement of integrated systems that include human, materials, information, equipment and energy. | |||||
13 | Knowlede on appropriate analytical, computational and experimental methods to provide system integration. |
ECTS/Workload Table
Activities | Number | Duration (Hours) | Total Workload |
---|---|---|---|
Course Hours (Including Exam Week: 16 x Total Hours) | 16 | 2 | 32 |
Laboratory | |||
Application | |||
Special Course Internship | |||
Field Work | |||
Study Hours Out of Class | 16 | 5 | 80 |
Presentation/Seminar Prepration | |||
Project | |||
Report | |||
Homework Assignments | |||
Quizzes/Studio Critics | |||
Prepration of Midterm Exams/Midterm Jury | 2 | 3 | 6 |
Prepration of Final Exams/Final Jury | 1 | 7 | 7 |
Total Workload | 125 |