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 | Foundations of Engineering Economy | [1] pages 1-25 |
| 2 | How time and interest affect money: single payment formulas | [1] pages 27-33 |
| 3 | How time and interest affect money: single payment formulas (cont) | [1] pages 27-33 |
| 4 | How time and interest affect money: uniform series formulas | [1] pages 34-36 |
| 5 | How time and interest affect money: gradient formulas and shifted cash flows | [1] pages 37-57 |
| 6 | Nominal and effective interest rates | [1] page 59-78 |
| 7 | Present worth analysis | [1] page 80-106 |
| 8 | Annual worth analysis | [1] pages 107-123 |
| 9 | Rate of return analysis | [1] pages 124-159 |
| 10 | Benefit/Cost analysis and public sector projects | [1] pages 160-181 |
| 11 | Effects of inflation | [1] pages 237-258 |
| 12 | Midterm | |
| 13 | Unit method, cost indexes, cost-capacity equations, factor method, unit cost estimation | [1] pages 259-286 |
| 14 | Depreciation methods | [1] pages 287-311 |
| 15 | After-tax economic analysis | [1] pages 312-347 |
| 16 | Final Examination Period |
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 | 2 | 60 |
| Final Exam/Final Jury | 1 | 40 |
| Toplam | 3 | 100 |
| Percentage of Semester Work | 60 |
|---|---|
| Percentage of Final Work | 40 |
| 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 | Accumulated knowledge on mathematics, science and mechatronics engineering; ability to apply the theoretical and applied knowledge to model and analyze mechatronics engineering problems. | |||||
| 2 | Ability to identify, define and formulate problems related to the field and to select and apply appropriate analysis and modeling methods to solve these problems. | |||||
| 3 | Ability to design a complex system, product, component or process to meet the requirements under realistic constraints and conditions; ability to apply contemporary design methodologies; ability to implement effective engineering creativity techniques in mechatronics engineering. (Realistic constraints and conditions may include economics, environment, sustainability, producibility, ethics, human health, social and political problems.) | |||||
| 4 | Ability to develop, select and use modern techniques, skills and tools for application of mechatronics engineering and robot technologies; ability to use information and communications technologies effectively. | |||||
| 5 | Ability to design and perform experiments, collect and analyze data and assess the results for investigated problems on mechatronics engineering and robot technologies. | |||||
| 6 | Ability to work effectively on intra-disciplinary and multi-disciplinary teams; ability for individual work; ability to communicate and collaborate/cooperate effectively with other disciplines and scientific/engineering domains or working areas, ability to work with other disciplines including electrical & electronics and computer engineering. | |||||
| 7 | Ability to express creative and original concepts and ideas effectively in Turkish and English language, oral and written, and technical drawings. | |||||
| 8 | Ability to reach information on different subjects required by the wide spectrum of applications of mechatronics engineering, criticize, assess and improve the knowledge-base; consciousness on the necessity of improvement and sustainability as a result of life-long learning; monitoring the developments on science and technology; awareness on entrepreneurship, innovative and sustainable development and ability for continuous renovation. | |||||
| 9 | Consciousness on professional and ethical responsibility, competency on improving professional consciousness and contributing to the improvement of profession itself. | |||||
| 10 | Knowledge on the applications at business life such as project management, risk management and change management and competency on planning, managing and leadership activities on the development of capabilities of workers who are under his/her responsibility working around a project. | |||||
| 11 | Knowledge about the global, social and individual effects of mechatronics engineering applications on the human health, environment and security and cultural values and problems of the era; consciousness on these issues; awareness of legal results of engineering solutions. | |||||
| 12 | Competency on defining, analyzing and surveying databases and other sources, proposing solutions based on research work and scientific results and communicate and publish numerical and conceptual solutions in the field of mechatronics engineering. | |||||
| 13 | Consciousness on the environment and social responsibility, competencies on observation, improvement and modify and implementation of projects for the society and social relations and be an individual within the society in such a way that planning, improving or changing the norms with a criticism. | |||||
ECTS/Workload Table
| Activities | Number | Duration (Hours) | Total Workload |
|---|---|---|---|
| Course Hours (Including Exam Week: 16 x Total Hours) | 16 | 2 | 32 |
| Laboratory | |||
| Application | |||
| Special Course Internship | |||
| Field Work | |||
| Study Hours Out of Class | 16 | 5 | 80 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | |||
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 2 | 3 | 6 |
| Prepration of Final Exams/Final Jury | 1 | 7 | 7 |
| Total Workload | 125 | ||