ECTS - Engineering Economy
Engineering Economy (IE305) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Engineering Economy | IE305 | 7. Semester | 2 | 0 | 0 | 2 | 5 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | Service Courses Taken From Other Departments |
| 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 | Introduction and Estimating Costs | [1] Chapter 11 |
| 2 | Foundations of Engineering Economy | [1] Chapter 1 |
| 3 | Foundations of Engineering Economy | [1] Chapter 1 |
| 4 | How time and interest affect money | [1] Chapter 2 |
| 5 | How time and interest affect money | [1] Chapter 2 |
| 6 | Nominal and effective interest rates | [1] Chapter 3 |
| 7 | Present worth analysis | [1] Chapter 4 |
| 8 | Midterm | [1] Chapter 11, 1, 2, 3, 4 |
| 9 | Annual worth analysis | [1] Chapter 5 |
| 10 | Rate of return analysis | [1] Chapter 6 |
| 11 | Benefit/Cost analysis and public sector projects | [1] Chapter 7 |
| 12 | Effects of inflation | [1] Chapter 10 |
| 13 | Depreciation methods | [1] Chapter 12 |
| 14 | After-tax economic analysis | [1] Chapter 13 |
| 15 | Final Exam | [1] Chapter 11, 1, 2, 3, 4, 5, 6, 7, 10, 12, 13 |
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 | 1 | 40 |
| Final Exam/Final Jury | 1 | 60 |
| Toplam | 2 | 100 |
| Percentage of Semester Work | 40 |
|---|---|
| Percentage of Final Work | 60 |
| Total | 100 |
Course Category
| Core Courses | |
|---|---|
| Major Area Courses | |
| Supportive Courses | X |
| 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 | An ability to apply knowledge of mathematics, science, and engineering. | |||||
| 2 | An ability to design and conduct experiments, as well as to analyze and interpret data. | |||||
| 3 | An ability to design a system, component, or process to meet desired needs. | |||||
| 4 | An ability to function on multi-disciplinary teams. | |||||
| 5 | An ability to identify, formulate, and solve engineering problems. | |||||
| 6 | An understanding of professional and ethical responsibility. | |||||
| 7 | An ability to communicate effectively. | |||||
| 8 | The broad education necessary to understand the impact of engineering solutions in a global and societal context. | |||||
| 9 | Recognition of the need for, and an ability to engage in life-long learning. | |||||
| 10 | Knowledge of contemporary issues. | |||||
| 11 | An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice. | |||||
| 12 | Skills in project management and recognition of international standards and methodologies | |||||
ECTS/Workload Table
| Activities | Number | Duration (Hours) | Total Workload |
|---|---|---|---|
| Course Hours (Including Exam Week: 16 x Total Hours) | 15 | 2 | 30 |
| Laboratory | |||
| Application | |||
| Special Course Internship | |||
| Field Work | |||
| Study Hours Out of Class | 15 | 5 | 75 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | |||
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 1 | 8 | 8 |
| Prepration of Final Exams/Final Jury | 1 | 12 | 12 |
| Total Workload | 125 | ||