ECTS - Engineering Economy
Engineering Economy (IE305) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Engineering Economy | IE305 | Area Elective | 2 | 0 | 0 | 2 | 5 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | Elective 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 | X |
|---|---|
| Major Area Courses | |
| 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 | Possesses sufficient knowledge in mathematics, science, and chemistry engineering-specific subjects, and gains the ability to apply theoretical and practical knowledge in these areas to complex engineering problems. | |||||
| 2 | Gains the ability to identify, define, formulate, and solve complex chemical engineering problems; selects and applies appropriate analysis and modeling methods for these purposes. | |||||
| 3 | Gains the ability to design a complex system, process, device, or product to meet specific requirements under realistic constraints and conditions; applies modern design methods for this purpose. | |||||
| 4 | Develops, selects, and uses modern techniques and tools necessary for the analysis and solution of complex problems encountered in chemical engineering applications; uses information technologies effectively. | |||||
| 5 | Designs experiments, conducts experiments, collects data, analyzes results, and interprets them for the investigation of complex engineering problems or research topics specific to the chemical engineering discipline. | |||||
| 6 | Gaining the ability to work efficiently in inter-, intra-, and multi-disciplinary teams; the ability to work individually. | |||||
| 7 | Communicates effectively in both spoken and written Turkish and gains proficiency in at least one foreign language. Writes effective reports, understands written reports, and prepares design and production reports. Gains the ability to make effective presentations and give and receive clear and understandable instructions. | |||||
| 8 | Gains awareness of the necessity of lifelong learning; accesses information, follows developments in science and technology, and continuously renews themselves. | |||||
| 9 | Acts in accordance with ethical principles, gains awareness of professional and ethical responsibilities; acquires knowledge of the standards used in chemical engineering practices. | |||||
| 10 | Gains knowledge about business practices such as project management, risk management, and change management. Has an understanding of entrepreneurship and innovation, and is knowledgeable about sustainable development. | |||||
| 11 | Has knowledge of the impacts of chemical engineering practices on health, environment, and safety at universal and societal levels, as well as the issues reflected in the engineering field of the era. Is aware of the legal implications of engineering solutions. | |||||
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 | ||