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Course Description Course Name : Advanced Engineering Economics Course Code : EM-553 Course Type : Optional Level of Course : Second Cycle Year of Study : 1 Course Semester : Fall (16 Weeks) ECTS : 6 Name of Lecturer(s) : Instructor İRFAN MACİT Learning Outcomes of the Course : Gains the basic knowledge of economics subjects such as Supply-Demand, Price elasticity and marginal utility. Gains knowledge on the analysis of cash flow. Learns about the economic behavior of mathematical models. Learns to manage a project relating to the concepts of engineering economics. Mode of Delivery : Face-to-Face Prerequisites and Co-Prerequisites : None Recommended Optional Programme Components : None Aim(s) of Course : This course provides students with details in industrial engineering in addition to their courses at undergraduate level through high level of engineering economy subjects and engineering economics. Information from the engineering economy at the undergraduate level is moved to the next level. A project selected by the student at the begining of the course is examined at each stage until the final phase and it is turned into an engineering economy project. Course Contents : Course content analysis, methods of engineering economics, Break-even point analysis, engineering economy, optimization, cost concepts and analysis of economic behavior, and the analysis of their impact on project cash flows, valuation methods andeconomic behavior and risk management in choosing the location of organization. Language of Instruction : Turkish Work Place : Classroom   Course Outline /Schedule (Weekly) Planned Learning Activities Week Subject Student's Preliminary Work Learning Activities and Teaching Methods 1 An overview of topics of Engineering Economics. none Lecture 2 Cost concepts and analysis none Lecture 3 What is the economic analysis, the implementation of the projects. none Lecture 4 Break-even point analysis. Homework and class work. Lecture 5 Break-even point analysis in Project Management. Homework and class work. Lecture and discussion. 6 Break-even point analysis in Project Management (cont.). Homework and class work. Lecture and discussion. 7 Break-even point analysis in Huge Project. Homework and class work. Lecture and discussion. 8 Midterm Exam none Written exam. 9 Introduction to optimization in engineering economics. none Lecture 10 Optimization topics in engineering economics. Homework and class work. Lecture and discussion. 11 Optimization topics in engineering economics (cont.) Homework and class work. Lecture and discussion. 12 Cash flow and cash flow statements of large-scale projects. Homework and class work. Lecture and discussion. 13 Valuation Methods and economic analysis. Homework and class work. Lecture and discussion. 14 The use of methods of choosing the place of incorporation of engineering economy. Homework and class work. Lecture and discussion. 15 Risk assessment and risk management. An overview of the issues. Lecture and discussion. 16/17 Final Exam none Written exam   Required Course Resources Resource Type Resource Name Recommended Course Material(s)  Okka, O.,Engineering Economics with Solving Problems, Nobel Educational Learning, 4. Ed., VIII, 2006. Required Course Material(s)   Assessment Methods and Assessment Criteria Semester/Year Assessments Number Contribution Percentage     Mid-term Exams (Written, Oral, etc.) 1 60     Homeworks/Projects/Others 1 40 Total 100 Rate of Semester/Year Assessments to Success 40   Final Assessments 100 Rate of Final Assessments to Success 60 Total 100   Contribution of the Course to Key Learning Outcomes # Key Learning Outcome Contribution* 1 Understand, interpret and apply knowledge in his/her field domain both in-depth and in-breadth by doing scientific research in industrial engineering. 2 2 Acquire comprehensive knowledge about methods and tools of industrial engineering and their limitations. 5 3 Work in multi-disciplinary teams and take a leading role and responsibility. 5 4 Identify, gather and use necessary information and data. 3 5 Complete and apply the knowledge by using scarce and limited resources in a scientific way and integrate the knowledge into various disciplines. 4 6 Keep up with the recent changes and applications in the field of Industrial Engineering and analyze these innovations when necessary. 2 7 Work in multi-disciplinary teams, take a leading role and responsibility and develop solutions for complex problems. 3 8 Analyze Industrial Engineering problems, develop innovative methods to solve the problems. 5 9 Have the ability to propose new and/or original ideas and methods in developing innovative solutions for designing systems, components or processes. 2 10 Design and perform analytical modeling and experimental research and analyze/solve complex matters emerged in this process. 5 11 Follow, study and learn new and developing applications of industrial engineering. 3 12 Use a foreign language in verbal and written communication at least B2 level of European Language Portfolio. 0 13 Present his/her research findings systematically and clearly in oral and written forms in national and international platforms. 0 14 Understand social and environmental implications of engineering practice. 0 15 Consider social, scientific and ethical values in the process of data collection, interpretation and announcement of the findings. 0 * Contribution levels are between 0 (not) and 5 (maximum).   Student Workload - ECTS Works Number Time (Hour) Total Workload (Hour) Course Related Works     Class Time (Exam weeks are excluded) 14 4 56     Out of Class Study (Preliminary Work, Practice) 8 4 32 Assesment Related Works     Homeworks, Projects, Others 1 30 30     Mid-term Exams (Written, Oral, etc.) 1 12 12     Final Exam 1 12 12 Total Workload: 142 Total Workload / 25 (h): 5.68 ECTS Credit: 6