Course Detail
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| ENGINEERING ECONOMICS | - | Fall Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assoc.Prof. Melis Almula KARADAYI |
| Name of Lecturer(s) | Assist.Prof. Merve Yüsra DOĞAN |
| Assistant(s) | Ömer Karayiğit ([email protected]) |
| Aim | 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 | Adequate knowledge in mathematics, science and engineering subjects pertaining to the relevant discipline; ability to use theoretical and applied knowledge in these areas in the solution of complex engineering problems. | X | |||||
| 2 | Ability to formulate, and solve complex engineering problems; ability to select and apply proper analysis and modeling methods for this purpose. | X | |||||
| 3 | Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; ability to apply modern design methods for this purpose. | X | |||||
| 4 | Ability to select and use modern techniques and tools needed for analyzing and solving complex problems encountered in engineering practice; ability to employ information technologies effectively. | X | |||||
| 5 | Ability to design and conduct experiments, gather data, analyze and interpret results for investigating complex engineering problems or discipline specific research questions. | X | |||||
| 6 | Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually. | X | |||||
| 7 | Ability to communicate effectively, both orally and in writing; knowledge of a minimum of one foreign language; ability to write effective reports and comprehend written reports, prepare design and production reports, make effective presentations, and give and receive clear and intelligible instructions. | X | |||||
| 8 | Awareness of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself. | X | |||||
| 9 | Knowledge on behavior according ethical principles, professional and ethical responsibility and standards used in engineering practices. | ||||||
| 10 | Knowledge about business life practices such as project management, risk management, and change management; awareness in entrepreneurship, innovation; knowledge about sustainable development. | ||||||
| 11 | Knowledge about the global and social effects of engineering practices on health, environment, and safety, and contemporary issues of the century reflected into the field of engineering; awareness of the legal consequences of engineering solutions. | ||||||
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. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| ENGINEERING ECONOMICS | - | Fall Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assoc.Prof. Melis Almula KARADAYI |
| Name of Lecturer(s) | Assist.Prof. Merve Yüsra DOĞAN |
| Assistant(s) | Ömer Karayiğit ([email protected]) |
| Aim | 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 | Adequate knowledge in mathematics, science and engineering subjects pertaining to the relevant discipline; ability to use theoretical and applied knowledge in these areas in the solution of complex engineering problems. | X | |||||
| 2 | Ability to formulate, and solve complex engineering problems; ability to select and apply proper analysis and modeling methods for this purpose. | X | |||||
| 3 | Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; ability to apply modern design methods for this purpose. | X | |||||
| 4 | Ability to select and use modern techniques and tools needed for analyzing and solving complex problems encountered in engineering practice; ability to employ information technologies effectively. | X | |||||
| 5 | Ability to design and conduct experiments, gather data, analyze and interpret results for investigating complex engineering problems or discipline specific research questions. | X | |||||
| 6 | Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually. | X | |||||
| 7 | Ability to communicate effectively, both orally and in writing; knowledge of a minimum of one foreign language; ability to write effective reports and comprehend written reports, prepare design and production reports, make effective presentations, and give and receive clear and intelligible instructions. | X | |||||
| 8 | Awareness of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself. | X | |||||
| 9 | Knowledge on behavior according ethical principles, professional and ethical responsibility and standards used in engineering practices. | ||||||
| 10 | Knowledge about business life practices such as project management, risk management, and change management; awareness in entrepreneurship, innovation; knowledge about sustainable development. | ||||||
| 11 | Knowledge about the global and social effects of engineering practices on health, environment, and safety, and contemporary issues of the century reflected into the field of engineering; awareness of the legal consequences of engineering solutions. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 30 | |
| Rate of Final Exam to Success | 70 | |
| Total | 100 | |