Department of Industrial & Manufacturing Engineering & Technology
1. Course Title:
2. Description:
IME 305: Engineering Economy II
Continuation of IME 301. Economic aspects of engineering decision including techniques of
obtaining cost data, product costing, and break-even analysis. Industrial practices.
3. Prerequisites:
Topics:
4. Textbook:
Reference:
2 Semester Hours
IME 301
Economic and Cost Analysis for Engineering and Management, Fariborz Tayyari (Unpublished
Manual), Department of Industrial & Manufacturing Engineering & Technology, Bradley University.
None.
5. Course Objectives:
Contributes to Student Outcomes (9)
Item Description
EAC-IE
To understand accounting information systems and cost accounting to determine
d, e, i
A
manufacturing unit cost.
To learn joint cost allocation to multiple products and by-products, using both accounting
a, e
B
and mathematical techniques.
To learn break-even analysis for decision making about whether to shut down or to
a, e, i
C
continue a product line.
D
To learn financial ratio analysis to evaluate the strength and profitability of a firm.
d, e, i
To acquainted to the global and contemporary issues impacting company’s economy and
g, h, i, j, k
E
cost of production.
6. Topics:
1
2
3
4
5
1
LECTURES
Accounting information systems.
Manufacturing costs, inventory appraisal.
Joint cost allocation.
Break-even analysis.
Financial analysis, and sources and uses of funds.
Contributes to Course Outcomes (5)
Outcome
A
A, B
A, B
C
D
LABORATORIES
N/A
Outcome
N/A
PAPERS/PROJECTS
Research and report a current issue affecting a company’s economics, manufacturing costs
(materials, labor and/or overhead costs).
Outcome
E
7. Class Schedule:
two 50-minute sessions per week.
8. Contribution of Course to Meeting the Professional Component:
Mathematics and Basic Science
Engineering Topics, Engineering Sciences, Engineering Design
General Education
0.5 hrs
1.5 hrs
0 hrs
9. Relationship of Course to IE Student Outcomes:
Code Student Outcomes. A Graduate from the Program Will Have:
Industrial Engineering graduates will have an ability to apply knowledge of mathematics
a
and science to system modeling and to problems related to production processes or
services.
Industrial Engineering graduates will have an ability to design and conduct experiments,
b
and to analyze and interpret data.
Industrial Engineering graduates will have an ability to design, select, implement, and
c
control a manufacturing or service system and its components or processes to meet desired
needs.
Industrial Engineering graduates will have an ability to function on multi-disciplinary teams
d
and the ability to apply a concurrent approach and project management to process and
product development.
Industrial Engineering graduates will have an ability to identify, formulate, and determine
e
optimal solutions to system problems, while considering physical and economic constraints
as well as safety and ergonomic issues.
Industrial Engineering graduates will have an understanding of the professional and ethical
f
responsibilities of an industrial engineer.
Industrial Engineering graduates will have an ability to effectively communicate technical
g
and social concepts through appropriate methods.
Industrial Engineering graduates will have an understanding of the impact of industrial
h
engineering solutions in a global, economic, environmental, and societal context.
Industrial Engineering graduates will have the recognition of the need for, and an ability to
i
engage in lifelong learning.
Industrial Engineering graduates will have knowledge of contemporary issues facing
j
engineers.
Industrial Engineering graduates will have an ability to use the proper techniques, skills,
k
and modern engineering tools necessary for industrial engineering practice utilizing
supporting technologies.
1. Prepared by: Fred Tayyari, 06/19/08
New student outcomes updated by Fred Tayyari on 06-11-2013
Contribution
4.00
0.43
2.83
3.00
2.75
2.75
3.00
2.00
Reviewed by: Curriculum Committee