INDUSTRIAL ENGINEERING | |||||
Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
INE3003 | Engineering Economy | Fall | 3 | 0 | 3 | 5 |
The course opens with the approval of the Department at the beginning of each semester |
Language of instruction: | En |
Type of course: | Must Course |
Course Level: | Bachelor |
Mode of Delivery: | Face to face |
Course Coordinator : | Dr. Öğr. Üyesi ELİF HAKTANIR AKTAŞ |
Course Lecturer(s): |
Dr. Öğr. Üyesi ADNAN ÇORUM Dr. Öğr. Üyesi ETHEM ÇANAKOĞLU Dr. Öğr. Üyesi ALPER CAMCI |
Course Objectives: | The purpose of this course is to supplement engineering student’s technical training with the knowledge and capability to perform financial analysis especially in the area of capital investment. |
The students who have succeeded in this course; I. Explain the role of engineering economy and the concepts of time value of money II. Define financial factors regarding time and interest effect on money III. Define nominal and effective interest rates and inflation rate IV. Perform present worth and annual worth analysis to evaluate projects and investments V. Define the Rate of return and perform rate of return analysis to evaluate projects and investment |
Foundations of engineering economy Factors: How time and interest affect money Combining factors Nominal and effective interest rates Present worth analysis Annual worth analysis Rate of return analysis Inflation |
Week | Subject | Related Preparation | |
1) | Introduction | ||
2) | Foundations of engineering economy | ||
3) | Factors: How time and interest affect money | ||
4) | Factors: How time and interest affect money | ||
5) | Combining factors | ||
6) | Nominal and effective interest rates | ||
7) | Nominal and effective interest rates | ||
8) | Present worth analysis | ||
9) | Present worth analysis | ||
11) | Rate of Return Analysis: Multiple Alternatives | ||
12) | Breakeven and payback analysis | ||
13) | Effects of Inflation | ||
14) | Effects of Inflation |
Course Notes: | 1. Chan S Park, Contemporary Engineering Economics, Global Edition, 6th edition, Pearson. 2. Blank & Tarquin (2012) Engineering Economy, 8th Ed. McGraw-Hill Inc. |
References: |
Semester Requirements | Number of Activities | Level of Contribution |
Attendance | 0 | % 0 |
Laboratory | 14 | % 15 |
Application | 0 | % 0 |
Field Work | 0 | % 0 |
Special Course Internship (Work Placement) | 0 | % 0 |
Quizzes | 3 | % 15 |
Homework Assignments | 0 | % 0 |
Presentation | 0 | % 0 |
Project | % 0 | |
Seminar | 0 | % 0 |
Midterms | 1 | % 30 |
Preliminary Jury | 0 | % 0 |
Final | 1 | % 40 |
Paper Submission | 0 | % 0 |
Jury | 0 | % 0 |
Bütünleme | % 0 | |
Total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 60 | |
PERCENTAGE OF FINAL WORK | % 40 | |
Total | % 100 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 14 | 2 | 28 |
Laboratory | 0 | 0 | 0 |
Application | 14 | 2 | 28 |
Special Course Internship (Work Placement) | 0 | 0 | 0 |
Field Work | 0 | 0 | 0 |
Study Hours Out of Class | 14 | 4 | 56 |
Presentations / Seminar | 0 | 0 | 0 |
Project | 0 | 0 | 0 |
Homework Assignments | 0 | 0 | 0 |
Quizzes | 3 | 1 | 3 |
Preliminary Jury | 0 | 0 | 0 |
Midterms | 1 | 2 | 2 |
Paper Submission | 0 | 0 | 0 |
Jury | 0 | 0 | 0 |
Final | 1 | 2 | 2 |
Total Workload | 119 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution | |
1) | Build up a body of knowledge in mathematics, science and industrial engineering subjects; use theoretical and applied information in these areas to model and solve complex engineering problems. | 4 |
2) | Identify, formulate, and solve complex engineering problems; select and apply proper analysis and modeling methods for this purpose. | 5 |
3) | Design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; apply modern design methods for this purpose. The ability to apply modern design methods to meet this objective. | 3 |
4) | Devise, select, and use modern techniques and tools needed for solving complex problems in industrial engineering practice; employ information technologies effectively. | 3 |
5) | Design and conduct experiments, collect data, analyze and interpret results for investigating the complex problems specific to industrial engineering. | |
6) | Cooperate efficiently in intra-disciplinary and multi-disciplinary teams; and show self-reliance when working independently. | |
7) | Demonstrate effective communication skills in both oral and written English and Turkish. Writing and understanding reports, preparing design and production reports, making effective presentations, giving and receiving clear and understandable instructions. | |
8) | Recognize the need for lifelong learning; show ability to access information, to follow developments in science and technology, and to continuously educate him/herself. | |
9) | Develop an awareness of professional and ethical responsibility, and behaving accordingly. Information about the standards used in engineering applications. | |
10) | Know business life practices such as project management, risk management, and change management; develop an awareness of entrepreneurship, innovation, and sustainable development. | |
11) | Know contemporary issues and the global and societal effects of modern age engineering practices on health, environment, and safety; recognize the legal consequences of engineering solutions. | |
12) | Develop effective and efficient managerial skills. | 4 |