EG4000 - Engineering Economics
|Student Contribution Band:
||School of Engineering (pre 2015)
Introduction of economic considerations in Engineering design and planning, engineering
systems concepts, modelling and analysis of engineering systems and processes, economic
considerations in engineering decision making, concepts of alternative engineering
design and planning, tangible and intangible outcomes of engineering projects, economic
values, engineering production functions, marginal analysis for project optimality,
technological constraints, optimal input output levels in production process, constrained
optimisation for economic design and planning, optimisation algorithms for linear
and nonlinear decision models: Lagrangian function method and simplex method, sensitivity
analysis, optimum decision model formulation and solution, decision models with multiple
objective and multiple decision makers, utility functions, commensurable economic
values, cash flow, planning horizon, present worth, rate of return, depreciation,
replacement of components, inflation and taxation effects, benefit cost analysis and
selection of best engineering alternative, risk evaluation. Group project on: developing
and analysing economically efficient alternative engineering plans and design with
real life examples from different disciplines of engineering emphasising engineering
- advance effective oral and written communication skills;
- develop an attitude for working as a team member and leader, dealing with other people
and handling contracts and resolving conflicts;
- learn to undertake problem identification, formulation and solution;
- acquire an understanding of basic economic principles for engineering decision making
with emphasis on technological aspects of engineering and design;
- understand basic economic principles framework and their application in the context
of engineering and technology.
||EG1000 AND EG1002 AND EG1010 AND EG1011 AND EG1012 AND MA1000 AND MA1003 AND (PH1005
OR EG1001)45 credit points.
Study Period 1
|Census Date 27-Mar-2014
||Dr Katia Bazaka
||Miss Diana Sheedy, Dr Katia Bazaka.
- 65 hours - Lectures, tutorials, demonstrations, practicals, site visits and/or seminars. Refer
to Subject Outline for details.
||end of semester exam (50% - 70%); on-course assessment, some of which may be invigilated (30% - 50%).
Minor variations might occur due to the continuous Subject quality improvement process,
and in case
of minor variation(s) in assessment details, the Subject Outline represents the latest