Department of Industrial & Manufacturing Engineering & Technology
1.
Course Title:
IME 301
Engineering Economy I
3 Semester Hours
2.
Description: Analysis of economic aspects of engineering decisions. Effect of interest and other cost factors on
evaluation of engineering alternatives. Roles of mathematical models and other techniques in economical design and
test of products. Introduction to value engineering.
3.
Prerequisites: MTH 121 Calculus I
4.
Textbook:
Engineering Economic Analysis, Newnan, D.G., J.P. Lavelle, T.G. Eschenbach, 11th ed., Oxford
University Press, New York, 2012
Reference:
None.
5.
Course Objectives:
Contributes to Student Outcomes
Item Description
EAC MFE
To understand engineering decisions process, and the role of engineering economic
e, f
A
analysis in the decision making process.
To understand the time value of money, and to learn how to formulate economic data
c, e
B
and criteria for decision making.
To learn how to solve problems associated with engineering economy in decision
c, e, f
C
making.
To understand the effects of income taxes and inflation on cash flow and economic
c, e,f
D
analysis.
6.
Topics:
LECTURES
1
The process of engineering decision making.
2
Single payment compound interest formula.
3
Uniform series formulas.
4
Arithmetic and geometric gradient formulas.
5
Nominal and effective interest rate.
6
Present Worth Analysis and capital costs.
7
Annual cash flow analysis.
8
Rate of Return analysis.
9
Pay-back, Benefit/Cost ratio methods, and Break-Even analysis.
10
Depreciation and income taxes.
11
Inflation.
12
Use of computer in analysis and presentation
Contributes to Course Objectives (5)
Objectives
A
B
B
B
B
B, C
B, C
B,C
B, C
B, C, D
B, C, D
B, C, D
LABORATORIES
Outcome
N/A
N/A
PAPERS/PROJECTS
Outcome
N/A
N/A
7.
Class Schedule:
Three 50-minute or two 75-minute sessions per week.
8.
8.a Contribution of Course to Meeting the Professional Component - EAC
Mathematics and Basic Science
Engineering Topics, Engineering Sciences, Engineering Design
0 hrs
3 hrs
General Education
0 hrs
5 scales, 5 denotes very strong
continuation to the student outcome and blank cell denotes that the course does not continue the
related student outcome)
9a. Relationship of Course to MFE Student Outcomes: (based on 1 to
Code
a
b
c
d
e
f
g
h
i
j
k
Student Outcomes, A Graduate from the Program Will Have:
Manufacturing Engineering graduates will have an ability to apply knowledge of mathematics
and science to manufacturing processes, materials, and design of manufacturing systems
Manufacturing Engineering graduates will have an ability to design and conduct experiments,
and to analyze and interpret data related to manufacturing processes, materials evaluation,
and manufacturing systems
Manufacturing Engineering graduates will have an ability to design, select, implement, and
control a manufacturing system and its components or processes to meet desired needs
Manufacturing Engineering graduates will have an ability to function on multi-disciplinary
teams and the ability to apply a concurrent approach and project management to process and
product development
Manufacturing Engineering graduates will have an ability to identify, formulate, and solve
manufacturing engineering problems through a hands-on approach that considers
constraints, costs, benefits, and comparative processes and materials
Manufacturing Engineering graduates will have an understanding of the professional and
ethical responsibilities of a manufacturing engineer
Manufacturing Engineering graduates will have an ability to effectively communicate
technical concepts through appropriate methods
Manufacturing Engineering graduates will have an understanding of the impact of
manufacturing engineering solutions in a global, economic, environmental, and societal
context
Manufacturing Engineering graduates will have a recognition of the need to engage in
lifelong learning
Manufacturing Engineering graduates will have a knowledge of contemporary issues facing
manufacturing engineers
Manufacturing Engineering graduates will have an ability to use the proper techniques, skills,
and modern engineering tools necessary for manufacturing engineering practice utilizing
supporting technologies
10. Prepared By: Fred Tayyari
10/2013
Contribution
—
—
1.00
—
3.20
1.00
—
—
—
—
—
Reviewed by: Curriculum Committee