To introduce the basic concepts of the economic analysis of engineering and management decisions, to explain how to apply these concept in the project planning and decision making process of a firm or government
Course Content
This course contains; Introduction to Engineering Economics,Time Value of Money and Economic Equivalence,Engineering Economy Factors,Nominal and Effective Rates,Present Worth Analysis,Annual Worth Analysis
,Determination of Rate of Return,Resolution of Multiple Rates of Return,Decision Rules in Rate of Return Analysis ,Benefit Cost Analysis ,Capital Budgeting, Inflation and Index Numbers ,Replacement Analysis,After Tax Economic Analysis.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
Can perform cost estimation using engineering economics terms.
12, 14, 16, 9
A, G
Using engineering economics terminology, derives factors for calculating the time value of money.
12, 14, 16, 9
A, G
Uses present value and different annual valuation techniques to evaluate or select alternatives.
12, 14, 16, 9
A, G
Analyzes rate of return and incremental rate of return.
12, 14, 16, 9
A, G
Does cost/benefit analysis of public sector projects. Uses methods for reducing the book value of capital investment, considers the effects of inflation.
12, 14, 16, 9
A, G
Teaching Methods:
12: Problem Solving Method, 14: Self Study Method, 16: Question - Answer Technique, 9: Lecture Method
Assessment Methods:
A: Traditional Written Exam, G: Quiz
Course Outline
Order
Subjects
Preliminary Work
1
Introduction to Engineering Economics
Lecture Notes
2
Time Value of Money and Economic Equivalence
Lecture Notes
3
Engineering Economy Factors
Lecture Notes
4
Nominal and Effective Rates
Lecture Notes
5
Present Worth Analysis
Lecture Notes
6
Annual Worth Analysis
Lecture Notes
7
Determination of Rate of Return
Lecture Notes
8
Resolution of Multiple Rates of Return
Lecture Notes
9
Decision Rules in Rate of Return Analysis
Lecture Notes
10
Benefit Cost Analysis
Lecture Notes
11
Capital Budgeting
Lecture Notes
12
Inflation and Index Numbers
Lecture Notes
13
Replacement Analysis
Lecture Notes
14
After Tax Economic Analysis
Lecture Notes
Resources
Engineering Economy, Leland Blank and Anthony Tarquin, McGraw Hill
Lecture notes
Course Contribution to Program Qualifications
Course Contribution to Program Qualifications
No
Program Qualification
Contribution Level
1
2
3
4
5
1
1. An ability to apply knowledge of mathematics, science, and engineering
X
2
2. An ability to identify, formulate, and solve engineering problems
X
3
3. An ability to design a system, component, or process to meet desired needs within realistic constraints such as economic, environmental, social, political, ethical, health and safety, manufacturability, and sustainability
X
4
4. An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice
X
5
5. An ability to design and conduct experiments, as well as to analyze and interpret data
X
6
6. An ability to function on multidisciplinary teams
X
7
7. An ability to communicate effectively
X
8
8. A recognition of the need for, and an ability to engage in life-long learning
X
9
9. An understanding of professional and ethical responsibility
10
10. A knowledge of contemporary issues
11
11. The broad education necessary to understand the impact of engineering solutions in a global, economic, environmental, and societal context
Assessment Methods
Contribution Level
Absolute Evaluation
Rate of Midterm Exam to Success
30
Rate of Final Exam to Success
70
Total
100
ECTS / Workload Table
Activities
Number of
Duration(Hour)
Total Workload(Hour)
Course Hours
14
3
42
Guided Problem Solving
0
0
0
Resolution of Homework Problems and Submission as a Report
0
0
0
Term Project
0
0
0
Presentation of Project / Seminar
0
0
0
Quiz
10
2
20
Midterm Exam
2
30
60
General Exam
1
60
60
Performance Task, Maintenance Plan
0
0
0
Total Workload(Hour)
182
Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(182/30)
6
ECTS of the course: 30 hours of work is counted as 1 ECTS credit.
To introduce the basic concepts of the economic analysis of engineering and management decisions, to explain how to apply these concept in the project planning and decision making process of a firm or government
Course Content
This course contains; Introduction to Engineering Economics,Time Value of Money and Economic Equivalence,Engineering Economy Factors,Nominal and Effective Rates,Present Worth Analysis,Annual Worth Analysis
,Determination of Rate of Return,Resolution of Multiple Rates of Return,Decision Rules in Rate of Return Analysis ,Benefit Cost Analysis ,Capital Budgeting, Inflation and Index Numbers ,Replacement Analysis,After Tax Economic Analysis.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
Can perform cost estimation using engineering economics terms.
12, 14, 16, 9
A, G
Using engineering economics terminology, derives factors for calculating the time value of money.
12, 14, 16, 9
A, G
Uses present value and different annual valuation techniques to evaluate or select alternatives.
12, 14, 16, 9
A, G
Analyzes rate of return and incremental rate of return.
12, 14, 16, 9
A, G
Does cost/benefit analysis of public sector projects. Uses methods for reducing the book value of capital investment, considers the effects of inflation.
12, 14, 16, 9
A, G
Teaching Methods:
12: Problem Solving Method, 14: Self Study Method, 16: Question - Answer Technique, 9: Lecture Method
Assessment Methods:
A: Traditional Written Exam, G: Quiz
Course Outline
Order
Subjects
Preliminary Work
1
Introduction to Engineering Economics
Lecture Notes
2
Time Value of Money and Economic Equivalence
Lecture Notes
3
Engineering Economy Factors
Lecture Notes
4
Nominal and Effective Rates
Lecture Notes
5
Present Worth Analysis
Lecture Notes
6
Annual Worth Analysis
Lecture Notes
7
Determination of Rate of Return
Lecture Notes
8
Resolution of Multiple Rates of Return
Lecture Notes
9
Decision Rules in Rate of Return Analysis
Lecture Notes
10
Benefit Cost Analysis
Lecture Notes
11
Capital Budgeting
Lecture Notes
12
Inflation and Index Numbers
Lecture Notes
13
Replacement Analysis
Lecture Notes
14
After Tax Economic Analysis
Lecture Notes
Resources
Engineering Economy, Leland Blank and Anthony Tarquin, McGraw Hill
Lecture notes
Course Contribution to Program Qualifications
Course Contribution to Program Qualifications
No
Program Qualification
Contribution Level
1
2
3
4
5
1
1. An ability to apply knowledge of mathematics, science, and engineering
X
2
2. An ability to identify, formulate, and solve engineering problems
X
3
3. An ability to design a system, component, or process to meet desired needs within realistic constraints such as economic, environmental, social, political, ethical, health and safety, manufacturability, and sustainability
X
4
4. An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice
X
5
5. An ability to design and conduct experiments, as well as to analyze and interpret data
X
6
6. An ability to function on multidisciplinary teams
X
7
7. An ability to communicate effectively
X
8
8. A recognition of the need for, and an ability to engage in life-long learning
X
9
9. An understanding of professional and ethical responsibility
10
10. A knowledge of contemporary issues
11
11. The broad education necessary to understand the impact of engineering solutions in a global, economic, environmental, and societal context
