|METU Credit (Theoretical-Laboratory hours/week):
|Language of Instruction:
|Level of Study:
||Academic Staff Dr. ENGİN ERANT
To introduce quantity measurement methods according to the Procedure of the Ministry of Public Works and Resettlement. To discuss the time value of money and methods of comparing alternatives from economic point of view (rate-of return, PW, AE approaches). To introduce depreciation, replacement, cost-benefit analysis principles. To enable students to make suitable decisions in their professional life when they have to make a decision on an economical basis.
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.
The broad education necessary to understand the impact of engineering solutions in a global and societal context., an ability to use the techniques, skills, and modern engineering tools necessary for engineering practice, and a recognition of the need for and an ability to engage in life-long learning
Course objectives are significantly related with the following ABET outcomes:
e. An ability to identify, formulate and solve engineering problems.
f. An understanding of professional and ethical responsibility.
h. The broad education necessary to understand the impact of engineering solutions in a global and societal context.
k. An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice.