COURSE OUTLINE
Course Unit Title
Economics for Engineers
Course Unit Code
CE 231
Type of Course Unit
Compulsory
th
Level of Course Unit
4 year BSc program
National Credits
3
Number of ECTS Credits Allocated
6
Theoretical (hour/week)
4
Practice (hour/week)
Laboratory (hour/week)
Year of Study
4
Semester when the course unit is delivered
5
Course Coordinator
Assist. Prof. Dr. Besime Erin
Name of Lecturer (s)
Mustafa Gündüz
Name of Assistant (s)
Mode of Delivery
Face to Face
Language of Instruction
English
Prerequisites
None
Recommended Optional Programme Components
Basic engineering economy
Course description:
Principles and economic analysis of engineering decision making. Cost concept. Economic environment. Price
and demand relations. Competition. Make-versus-purchase studies.
Principles and applications of money-time relationships. Depreciation. Money and banking. Price changes and
inflation. Business and company finance
Objectives of the Course:
 Discuss principles and economic analysis of decision making
 Discuss cost concepts, make-versus-purchase studies
 Analyze principles of money-time relationships
 Work on cash flow analysis
 Analyze application of money-time relations
 Analyze supply and demand relations
 Analyze price and demand relations
 Analyze breakeven point analysis and effects of inflation on money-time relationships
Learning Outcomes
At the end of the course the student should be able to
1
Develop a thorough understanding on engineering decision making
2
Understand the principles of economic analysis of design process
Understand the different costs(fixed cost, variable cost, direct cost, indirect cost,
3
standard cost and opportunity cost )
120
Assessment
1
1
1
4
Realize the money-time relationships
5
Realize applications of money time relationships
6
Understand price changes and inflation
7
Understand price and relations using graphical approach
Assessment Methods: 1. Written Exam, 2. Assignment, 3. Project/Report, 4. Presentation, 5. Lab. Work
Course’s Contribution to Program
1
1
1
1
CL
Ability to relate and apply fundamental sciences to learning the essential civil engineering
concepts and theories of different branches.
Ability to understand the derivation of these concepts and theories by relating them to the
2
real-life engineering cases within the related civil engineering branch.
Ability to define clearly and analyze the engineering problems by applying the introduced
3
civil engineering concepts and theories of the related branch.
Ability to use decision-making skills and perform design calculations correctly for the
4
solution of the defined problem/project by applying the introduced theories of the related
civil engineering branch.
Ability to understand and carry out the practical applications of learned civil engineering
5
concepts and theories on site and/or laboratory.
Ability to use software packages for the analysis and/or the design of the defined civil
6
engineering problems/projects.
Ability to manage time and resources effectively and efficiently while carrying out civil
7
engineering projects.
Ability to participate in team-works in a harmonized manner for the solution of the targeted
8
problem.
Ability to write technical reports and/or to carry out presentations on the studied engineering
9
project using the modern techniques and facilities.
10 Ability to carry out and finalize a civil engineering study/project by showing professional
ethics.
CL: Contribution Level (1: Very Low, 2: Low, 3: Moderate, 4: High, 5: Very High)
Course Contents
1
Week
Chapter
Topics
1
1
Foundations of Engineering Economy
2
2
Factors: How time and Interest Affect Money
3
4
Nominal and Effective Interest rates
4
5
Present-worth Analysis
5
6
Annual-worth Analysis
6
6
Future-worth Analysis
3
4
1
5
1
1
5
4
3
1
Exam
Midterm
7
8
13
Breakeven Analysis
9
14
Effects of inflation
Final
15
Recommended Sources
Textbook:
th
Leland Blank, Anthony Tarquin, Engineering Economy, 6 edition, McGrawHill.
121
Assessment
Attendance
10%
Less than 25% class attendance results in NA grade
Midterm Exam
40%
Written Exam
Final Exam
50%
Written Exam
Total
100%
Assessment Criteria
Final grades are determined according to the Near East University Academic Regulations for Undergraduate
Studies
Course Policies
 Attendance to the course is mandatory.
 Late assignments will not be accepted unless an agreement is reached with the lecturer.
 Students may use calculators during the exam.
 Cheating and plagiarism will not be tolerated. Cheating will be penalized according to the Near
East University General Student Discipline Regulations
ECTS allocated based on Student Workload
Number
Duration
(hour)
Total
Workload(hour)
16
4
64
Labs and Tutorials
-
-
-
Assignment
5
4
20
Project/Presentation/Report
4
4
16
E-learning activities
-
-
-
Quizzes
4
1
4
Midterm Examination
1
2
2
Final Examination
1
2
2
Self Study
16
4
48
Activities
Course duration in class (including Exam weeks)
Total Workload
172
Total Workload/30(h)
5.73
ECTS Credit of the Course
6
122
12
3