ECTS - Engineering Economy
Engineering Economy (IE305) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Engineering Economy | IE305 | 8. 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 | Possesses sufficient knowledge in mathematics, natural sciences, and discipline-specific topics in Electrical and Electronics Engineering; uses this theoretical and practical knowledge to solve complex engineering problems. | X | ||||
| 2 | Identifies, defines, formulates, and solves complex engineering problems; selects and applies appropriate analytical and modeling methods for this purpose. | X | ||||
| 3 | Designs complex systems, processes, devices, or products under realistic constraints and conditions to meet specific requirements; applies modern design methods for this purpose. (Realistic constraints and conditions may include factors such as economy, environmental issues, sustainability, manufacturability, ethics, health, safety, social and political issues, depending on the nature of the design.) | |||||
| 4 | Selects and uses modern techniques and tools necessary for the analysis and solution of complex problems encountered in engineering applications; effectively uses information technologies. | |||||
| 5 | Designs experiments, conducts tests, collects data, analyzes, and interprets results to investigate complex engineering problems or discipline-specific research topics. | X | ||||
| 6 | Works effectively in disciplinary and interdisciplinary teams; develops the ability to work independently. | |||||
| 7 | Communicates effectively in both written and verbal forms; possesses proficiency in at least one foreign language; writes effective reports, understands written reports, prepares design and production reports, delivers effective presentations, and gives and receives clear instructions. | |||||
| 8 | Recognizes the need for lifelong learning; accesses information, follows developments in science and technology, and continuously renews oneself. | |||||
| 9 | Acts in accordance with ethical principles, assumes professional and ethical responsibility, and possesses knowledge about the standards used in engineering practices. | X | ||||
| 10 | Possesses knowledge about professional practices such as project management, risk management, and change management; gains awareness of entrepreneurship and innovation; understands the principles of sustainable development. | |||||
| 11 | Understands the universal and societal impacts of engineering practices on health, environment, and safety; recognizes the contemporary issues reflected in the field of engineering and understands the legal implications of engineering solutions. | X | ||||
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 | ||