CE231 ENGINEERING ECONOMY
| Course Code: | 5620231 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 5.0 |
| Department: | Civil Engineering |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. MUSTAFA TALAT BİRGÖNÜL |
| Offered Semester: | Fall Semesters. |
Course Objectives
To discuss the time value of money and methods of comparing alternatives from economic point of view, thus enabling students to make suitable decisions in their professional life when they have to make a decision on an economical basis.
Course Content
Introduction to engineering economy, interest and money-time relationship, effective and nominal interest, compound interest, methods of comparison of alternatives by using present worth, annual equivalent and rate of return techniques, depreciation and replacement analysis, economic life problems, cost-benefit analysis, break-even analysis, playback period, effect of inflation.
Course Learning Outcomes
- Determine how to use time value of money and the difference between simple and compound interest.
- Compare alternatives from economic point of view.
- Conduct replacement and economic life analysis.
- Conduct cost-benefit analysis.
- Calculate depreciation of equipments.
- Analyze the break-even points for economic life problems.
- Apply the effect of inflation to solve economic life problems.
Program Outcomes Matrix
| Contribution | |||||
| # | Program Outcomes | No | Yes | ||
| 1 | An ability to identify, formulate, and solve complex engineering problems by applying principles of engineering, science, and mathematics | ✔ | |||
| 2 | An ability to apply engineering design to produce solutions that meet specified needs with consideration of public health, safety, and welfare, as well as global, cultural, social, environmental, and economic factors | ✔ | |||
| 3 | An ability to communicate effectively with a range of audiences | ✔ | |||
| 4 | An ability to recognize ethical and professional responsibilities in engineering situations and make informed judgments, which must consider the impact of engineering solutions in global, economic, environmental, and societal contexts | ✔ | |||
| 5 | An ability to function effectively on a team whose members together provide leadership, create a collaborative and inclusive environment, establish goals, plan tasks, and meet objectives | ✔ | |||
| 6 | An ability to develop and conduct appropriate experimentation, analyze and interpret data, and use engineering judgment to draw conclusions | ✔ | |||
| 7 | An ability to acquire and apply new knowledge as needed, using appropriate learning strategies | ✔ | |||
| 8 | An ability to use techniques, skills, and engineering tools necessary for engineering practice | ✔ | |||