| Course Name | Economics of Food Engineering |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| FE 414 | 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 | Learning basic concepts of economics such as demand, supply, market, household; performing elasticity calculations; cost analysis and studying different cost estimation methods; discussing concepts such as interest, capital and operation cost, depreciation, profitability; investigating the economic aspects of processes that are frequently used in food engineering |
| Learning Outcomes | The students who succeeded in this course;
|
| Course Description | Fundamental concepts in economics, elasticity, cost analysis methods, interest calculations, depreciation calculations, profitability analysis, economic analysis of food engineering related processes |
| Related Sustainable Development Goals | |
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| Core Courses | |
| Major Area Courses | X | |
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Introduction to Economics | Fundamentals of Engineering Economics Chapter 1 |
| 2 | Demand and Supply | Fundamentals of Engineering Economics Chapter 2 |
| 3 | Elasticity | Fundamentals of Engineering Economics Chapter 2 |
| 4 | Time Value of Money | Fundamentals of Engineering Economics Chapter 2 |
| 5 | Time Value of Money | Fundamentals of Engineering Economics Chapter 2 |
| 6 | Inflation Calculations | Fundamentals of Engineering Economics, Chapter 4 |
| 7 | Midterm Examination | |
| 8 | Cost Analysis | Plant Design and Economics for Chemical Engineers Chapter 6 |
| 9 | Cost Analysis | Plant Design and Economics for Chemical Engineers Chapter 6 |
| 10 | Depreciation Calculations | Plant Design and Economics for Chemical Engineers Chapter 7 |
| 11 | Cash Flow Calculations | Plant Design and Economics for Chemical Engineers Chapter 7 |
| 12 | Profitability Analysis | Plant Design and Economics for Chemical Engineers Chapter 8 |
| 13 | Profitability Analysis | Plant Design and Economics for Chemical Engineers Chapter 8 |
| 14 | General Review | |
| 15 | Preparation for the final exam | |
| 16 | Preparation for the final exam |
| Course Notes/Textbooks | Plant Design and Economics for Chemical Engineers, Peters, Timmerhaus, West, McGraw-Hill |
| Suggested Readings/Materials | Fundamentals of Engineering Economics, 3rd ed., Chan S. Park, Prentice Hall |
| Semester Activities | Number | Weigthing |
| Participation | ||
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | 4 | 40 |
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 1 | 20 |
| Final Exam | 1 | 40 |
| Total |
| Weighting of Semester Activities on the Final Grade | 3 | 30 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 70 |
| Total |
| 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 | 16 | 2 | 32 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 4 | 10 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 15 | |
| Final Exams | 1 | 25 | |
| Total | 160 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | Being able to transfer knowledge and skills acquired in mathematics and science into engineering, | X | ||||
| 2 | Being able to identify and solve problem areas related to Food Engineering, | X | ||||
| 3 | Being able to design projects and production systems related to Food Engineering, gather data, analyze them and utilize their outcomes in practice, | X | ||||
| 4 | Having the necessary skills to develop and use novel technologies and equipment in the field of food engineering, | X | ||||
| 5 | Being able to take part actively in team work, express his/her ideas freely, make efficient decisions as well as working individually, | X | ||||
| 6 | Being able to follow universal developments and innovations, improve himself/herself continuously and have an awareness to enhance the quality, | X | ||||
| 7 | Having professional and ethical awareness, | X | ||||
| 8 | Being aware of universal issues such as environment, health, occupational safety in solving problems related to Food Engineering, | X | ||||
| 9 | Being able to apply entrepreneurship, innovativeness and sustainability in the profession, | X | ||||
| 10 | Being able to use software programs in Food Engineering and have the necessary knowledge and skills to use information and communication technologies that may be encountered in practice (European Computer Driving License, Advanced Level), | X | ||||
| 11 | Being able to gather information about food engineering and communicate with colleagues using a foreign language ("European Language Portfolio Global Scale", Level B1) | X | ||||
| 12 | Being able to speak a second foreign language at intermediate level. | |||||
| 13 | Being able to relate the knowledge accumulated during the history of humanity to the field of expertise | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
