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) |
|---|
| N/A |
| Course Language | English |
|---|---|
| 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) |
|
| 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 | 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 |
|---|---|
| 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 |
|---|---|
| Percentage of Final Work | 40 |
| 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 | Adequate knowledge of subjects related to mathematics, natural sciences, and Electrical and Electronics Engineering discipline; ability to apply theoretical and applied knowledge in those fields to the solution of complex engineering problems. | X | ||||
| 2 | An ability to identify, formulate, and solve complex engineering problems, ability to choose and apply appropriate models and analysis methods for this. | X | ||||
| 3 | An ability to design a system, component, or process under realistic constraints to meet desired needs, and ability to apply modern design approaches for this. | |||||
| 4 | The ability to select and use the necessary modern techniques and tools for the analysis and solution of complex problems encountered in engineering applications; the ability to use information technologies effectively | |||||
| 5 | Ability to design and conduct experiments, collect data, analyze and interpret results for investigating complex engineering problems or discipline-specific research topics. | X | ||||
| 6 | An ability to function on multi-disciplinary teams, and ability of individual working. | |||||
| 7 | Ability to communicate effectively orally and in writing; knowledge of at least one foreign language; active report writing and understanding written reports, preparing design and production reports, the ability to make effective presentation the ability to give and receive clear and understandable instructions. | |||||
| 8 | Awareness of the necessity of lifelong learning; the ability to access knowledge, follow the developments in science and technology and continuously stay updated. | |||||
| 9 | Acting compliant with ethical principles, professional and ethical responsibility, and knowledge of standards used in engineering applications. | X | ||||
| 10 | Knowledge about professional activities in business, such as project management, risk management, and change management awareness of entrepreneurship and innovation; knowledge about sustainable development. | |||||
| 11 | Knowledge about the impacts of engineering practices in universal and societal dimensions on health, environment, and safety. the problems of the current age reflected in the field of engineering; awareness of the legal consequences of engineering solutions. | X | ||||
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 | ||