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Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS END 3527 ENGINEERING ECONOMICS COMPULSORY 3 0 0 4

Offered By

Industrial Engineering

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR BILGE BILGEN

Offered to

Industrial Engineering

Course Objective

The course aims to provide a general introduction to fundamental concepts of financial accounting and economic analysis for engineering and managerial decision making. The goal is to teach techniques for evaluating the worth of investment alternatives.

Learning Outcomes of the Course Unit

1   1. Ability to define basic concepts related to engineering economics 2   2. Understand the time value of money, economic equivalence concepts, and make various interest calculations 3   3. Ability to analyze engineering and decision-making problems 4   4. Ability to use present value, future value, rate of return, simple payback period, discounted payback period, and breakeven analysis to evaluate, compare, and rank engineering projects 5   5. Ability to analyze the effects of depreciation, inflation and accounting concepts on engineering economic decisions.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description 1 Introduction to engineering economics, basic concepts Evaluating mutually exclusive projects 2 Time value of money -1 (single cash flows, equal payment flows) Rate of return analysis 3 Time value of money -2 (gradient series, unconventional cash flows) Rate of return analysis 4 Time value of money -3 (economic equivalence) Depreciation methods 5 Nominal, effective interest rate 6 Money management, debt management, equivalence analysis using effective interest rates 7 Equivalence calculations under inflation 8 Evaluating investment projects 9 Present worth analysis 10 Annual equivalence analysis

Recomended or Required Reading

Fundamentals of Engineering Economics, 3rd ed., Chan S. Park, Prentice Hall Contemporary Engineering Economics, Chan S. Park. Prentice Hall, New Jersey.

Planned Learning Activities and Teaching Methods

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA 1 MTE MIDTERM EXAM 2 ASG ASSIGNMENT 3 FIN FINAL EXAM 4 FCG FINAL COURSE GRADE MTE*0.35+ASG *0.15+FIN * 0.50 5 RST RESIT 6 FCGR FINAL COURSE GRADE (RESIT) MTE*0.35+ASG *0.15+RST * 0.50

Further Notes About Assessment Methods

None

Assessment Criteria

To be announced.

Language of Instruction

Turkish

Course Policies and Rules

to be announced

Contact Details for the Lecturer(s)

bilge.bilgen@deu.edu.tr

Office Hours

to be announced

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours) Lectures 14 3 42 Preparations before/after weekly lectures 14 1 14 Preparation for midterm exam 1 15 15 Preparation for final exam 1 20 20 Preparing assignments 1 10 10 Midterm 1 1,5 2 Final 1 1,5 2 TOTAL WORKLOAD (hours) 105

Contribution of Learning Outcomes to Programme Outcomes

PO/LO PO.1 PO.2 PO.3 PO.4 PO.5 PO.6 PO.7 PO.8 PO.9 PO.10 PO.11 LO.1 2 LO.2 2 2 LO.3 4 2 2 2 LO.4 4 3 2 2 LO.5 4 3 2 2