ENGR - 2308 - 87 ENGINEERING ECONOMICS
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ENGINEERING ECONOMICS
ENGR - 2308 - 87
Course Description:
Methods used for determining the comparative financial desirability of engineering alternatives. Provides the student with the basic tools required to analyze engineering alternatives in terms of their worth and cost, an essential element of engineering practice. The student is introduced to the concept of the time value of money and the methodology of basic engineering economy techniques. The course will address some aspects of sustainability and will provide the student with the background to enable them to pass the Engineering Economy portion of the Fundamentals of Engineering exam.
This is a very fast-paced online course. It is not “less work” or “easier” than the face-to-face semester-long version. It has the same assignments and content as the 16-week course, but you must complete it over 5 weeks. Therefore, expect to spend 3 to 4 hours per day on this class, including weekends. You will need to follow the course calendar closely. You can work ahead, but make sure you don’t fall behind; it is very difficult to catch up given how fast the course goes in a summer session.
Prerequisites and/or Corequisites:
Students must have a C or better in MATH 2413—Calculus I
Instructor Information:
Instructor Name: Paulina Z. Sidwell
MCC E-mail:psidwell@mclennan.edu
Office Phone Number: (254) 299-8544 [Note: I am rarely in the office during the Summer] Office/Teacher Conference Hours: By appointment only, and via Zoom. Appointments are typically available Monday – Thursday from 1 pm to 3 pm.
You can make an appointment here:psidwell.appointy.com *The best way to contact me, by far, is email. I will typically respond to email within 24 hours during weekdays (Mon – Thurs) and 48 hours within weekends (Fri – Sun).
Required Text & Materials:
*Note: This course uses Inclusive Access, meaning that your course materials have been included in the course fees and thus do not need to be purchased separately.
Title: Engineering Economy MyLab with Pearson e-text
Author: Sullivan, Wicks, & Koelling
Edition: 17th
Publisher: Pearson
Additional requirements:
Students must have a reliable computer and internet connection. Students must be able to demonstrate basic computer literacy skills such as keyboarding, sending and receiving email, using a web browser. Students need to be proficient with a word processor and using spreadsheet software (AKA Word and Excel). Additionally, you will need a calculator of your choosing that is NOT a financial calculator.
MCC Bookstore Website: http://www.mclennan.edu/bookstore/
Methods of Teaching and Learning:
Students will learn through online lectures and reading the textbook, as well as through independent research, work on online homework, proctored exams, and a case study, which will require a written report. Additional methods may be used as opportunities present themselves.
Course Objectives and/or Competencies:
Upon successful completion of this course, students will:
1. Apply different methods to calculate the time value of money. (All Chapters)
2. Construct cash flow diagrams for a given problem. (Ch. 4, 5, 6, 8, 9, 10, 11)
3. Estimate total revenue, total cost, and break even points. (Ch. 1, 2, 3, 11)
4. Calculate the uniform series payment, given principal, interest rate, and pay period (Ch. 4, 5, 6)
5. Perform project evaluation, including cost/benefit analysis. (Ch. 10)
6. Articulate principles of taxation and depreciation. (Ch. 7)
7. Perform capital budgeting, cost comparisons, and replacement analyses. (Ch. 9, 13)
8. Solve problems at a level consistent with expectations of the engineering economics portion of the Fundamentals of Engineering exam. (All homework and tests)
Course Outline or Schedule:
You are responsible for everything in the modules listed in the detailed calendar below. You should watch the videos associated with each section on or before the dates listed so you will have time to complete the related assignments. Any changes in this schedule will be announced on Brightspace or through email.
Begin Module by: |
Module |
Topic |
Chapter |
Due |
Finish Module by: |
Mon, July 11 |
1 |
Introduction |
1 |
HW1 Orientation Quiz |
Thur, July 14 |
Cost Concepts |
2 |
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Cost Estimation Techniques |
3 |
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Thurs, Jul 14 |
2 |
Time Value of Money |
4 |
HW2 Discussion Board 1 |
Sun, July 17 |
Equivalence for Repeated Cash Flows |
4 |
||||
Gradients and Compounding Period |
4 |
Mon, July 18 |
3 |
Present Worth Analysis |
5 |
HW3 Discussion Board 2 |
Wed, July 20 |
Annual Worth and Future Worth |
5 |
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Rate of Return and Payback Period |
5 |
||||
Spreadsheets and Case Studies |
- |
||||
Thurs, July 21 |
4 |
Comparing Alternatives |
6 |
HW4 |
Sun, July 24 |
Selection of the Best Alternative |
6 |
||||
Test 1 (Ch 1 - 6) due on Monday, July 25 |
|||||
Mon, July 25 |
5 |
Benefit-Cost Analysis |
10 |
HW5 Case Study Milestone 1 |
Wed, July 27 |
Breakeven Analysis |
11 |
||||
Sensitivity Analysis |
11 |
||||
Thurs, July 28 |
6 |
Depreciation |
7 |
HW6 Case Study Milestone 2 |
Sun, July 31 |
Income Taxes |
7 |
||||
Mon, Aug 1 |
7 |
Price Changes |
8 |
HW7 |
Wed, Aug 3 |
Exchange Rates |
8 |
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Thurs, Aug 4 |
8 |
Replacement Analysis |
9 |
HW8 Case Study Milestone 3 |
Sun, Aug 7 |
Probabilistic Risk Analysis |
12 |
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Test 2 (Ch 7 - 12) due on Monday, Aug 8 |
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Mon, Aug 8 |
9 |
Course Review |
- |
Case Study Final Report Discussion Board 3 |
Tues, Aug 9 |
Final Exam (Comprehensive) due on Thursday, Aug 11 |
2022-07-22