COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Engineering Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
IE 346
Fall/Spring
3
0
3
5
Prerequisites
None
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course
Course Coordinator
Course Lecturer(s)
Assistant(s) -
Course Objectives To introduce the fundamental concepts of economic analysis for engineering and managerial decision making, to explain how these will affect the functioning of an engineering company and contribute to decision making in engineering operations.
Learning Outcomes The students who succeeded in this course;
  • Will be able to describe time value of money and economic equivalence
  • Will be able to analyze engineering and managerial decision making problems
  • Will be able to to make informed financial decisions as a project evaluation team member or project manager
  • Will be able to cosnider the effect of inflation on economic analysis
  • Will be able to build critical decision making tools for making appropriate personal, private or public economic and financial decisions
Course Description Economic analysis for engineering and managerial decision making. Techniques for evaluating the worth of prospective projects, investment opportunities and design choices. Interest and time value of money, methods for evaluation of alternatives: present worth, annual equivalent worth, rate of return, and payback method. Inflation, after tax economic analysis. Sensitivity and risk analysis.
Related Sustainable Development Goals

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 Engineering Economic Decisions Fundamentals of Engineering Economics, Chapter 1
2 Time Value of Money Fundamentals of Engineering Economics, Chapter 2
3 Time Value of Money Fundamentals of Engineering Economics, Chapter 2
4 Time Value of Money Fundamentals of Engineering Economics, Chapter 2
5 Understanding Money Management Fundamentals of Engineering Economics, Chapter 3
6 Equivalance Calculations Under Inflation Fundamentals of Engineering Economics, Chapter 4
7 Midterm Exam
8 Present Worth Analysis Fundamentals of Engineering Economics, Chapter 5
9 Annual Equivalence Analysis Fundamentals of Engineering Economics, Chapter 6
10 Rate of Return Analysis Fundamentals of Engineering Economics, Chapter 7
11 Benefit-Cost Analysis Fundamentals of Engineering Economics, Chapter 8
12 Accounting for Depreciation and Income Taxes Fundamentals of Engineering Economics, Chapter 9
13 Project Cash Flow Analysis Fundamentals of Engineering Economics, Chapter 10
14 Review
15 Review
16 Review
Course Notes/Textbooks

Fundamentals of Engineering Economics, 3rd ed., Chan S. Park, PrenticeHall

Suggested Readings/Materials

Contemporary Engineering Economics, Chan S. Park, 3rd ed., PrenticeHall.Engineering Economy, Leland Blank, Anthony Tarquin, McGrawHill.Principles of Engineering Economic Analysis, John A. White, Marvin H. Agee, Kenneth E. Case, Wiley. Lecture PowerPoint slides, Excel sheets supplied in lectures for example problems.

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
1
15
Portfolio
Homework / Assignments
1
15
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterm
1
35
Final Exam
1
35
Total

Weighting of Semester Activities on the Final Grade
3
65
Weighting of End-of-Semester Activities on the Final Grade
1
35
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: 16 x total hours)
16
Study Hours Out of Class
14
3
42
Field Work
Quizzes / Studio Critiques
1
12
Portfolio
Homework / Assignments
Presentation / Jury
Project
1
14
Seminar / Workshop
Oral Exam
Midterms
1
14
Final Exams
1
20
    Total
150

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To have adequate knowledge in Mathematics, Science and Computer Engineering; to be able to use theoretical and applied information in these areas on complex engineering problems.

2

To be able to identify, define, formulate, and solve complex Computer Engineering problems; to be able to select and apply proper analysis and modeling methods for this purpose.

3

To be able to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the requirements; to be able to apply modern design methods for this purpose.

4

To be able to devise, select, and use modern techniques and tools needed for analysis and solution of complex problems in Computer Engineering applications; to be able to use information technologies effectively.

5

To be able to design and conduct experiments, gather data, analyze and interpret results for investigating complex engineering problems or Computer Engineering research topics.

6

To be able to work efficiently in Computer Engineering disciplinary and multi-disciplinary teams; to be able to work individually.

7

To be able to communicate effectively in Turkish, both orally and in writing; to be able to author and comprehend written reports, to be able to prepare design and implementation reports, to present effectively, to be able to give and receive clear and comprehensible instructions.

8

To have knowledge about global and social impact of Computer Engineering practices on health, environment, and safety; to have knowledge about contemporary issues as they pertain to engineering; to be aware of the legal ramifications of Computer Engineering solutions.

9

To be aware of ethical behavior, professional and ethical responsibility; to have knowledge about standards utilized in engineering applications.

10

To have knowledge about industrial practices such as project management, risk management, and change management; to have awareness of entrepreneurship and innovation; to have knowledge about sustainable development.

11

To be able to collect data in the area of Computer Engineering, and to be able to communicate with colleagues in a foreign language. ("European Language Portfolio Global Scale", Level B1)

12

To be able to speak a second foreign language at a medium level of fluency efficiently.

13

To recognize the need for lifelong learning; to be able to access information, to be able to stay current with developments in science and technology; to be able to relate the knowledge accumulated throughout the human history to Computer Engineering.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest