ESC280 ENGINEERING ECONOMY
| Course Code: | 3830280 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 5.0 |
| Department: | Engineering Sciences |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Assist.Prof.Dr BERTUĞ AKINTUĞ |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
To discuss the time value of money and methods of comparing alternatives from an economic point of view, thus enabling students to make suitable decisions in their professional life when they must make a decision on a financial 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, payback period, the effect of inflation.
Course Learning Outcomes
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
An ability to communicate effectively with a range of audiences
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
An ability to develop and conduct appropriate experimentation, analyze and interpret data, and use engineering judgment to draw conclusions
An ability to acquire and apply new knowledge as needed, using appropriate learning strategies