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| GEM2026 | Engineering Economics | 2+0+0 | ECTS:3 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Elective | | Department | DEPARTMENT of NAVAL ARCHITECTURE and MARINE ENGINEERING | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 2 hours of lectures per week | | Lecturer | Dr. Öğr. Üyesi Burhan KAYIRAN | | Co-Lecturer | | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of the course is to teach the analysis of alternative resources suitable for the changing engineering understanding by taking into account the changes in human needs and technological developments, the planning of resources and the effective use of these resources for operational purposes with basic economic principles. For this purpose, analysis and methods that will support applications in engineering, project and economic subjects will be transferred in accordance with the needs of the naval architecture and marine engineering field. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | Gains knowledge of basic economic concepts. | 1 - 3 | 1, | | LO - 2 : | Can use acquired economic concepts to interpret the relationship between basic economic indicators. | 1 - 3 | 1, | | LO - 3 : | Can use basic economic indicators to solve economic issues that arise in the field of naval architecture and marine engineering. | 1 - 3 | 1, | | LO - 4 : | Gains the ability to make economic predictions and planning in a naval architecture and marine engineering project from start to finish. | 1 - 3 | 1, | | LO - 5 : | Gains the ability to work in a multidisciplinary manner in the field of naval architecture and marine engineering by applying the analysis elements of economics together with the requirements of the engineering field. | 1 - 3 | 1, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| Basic Concepts of Economics, Engineering Economics Decisions, Forecast Models, Time Value of Money and Interest Calculation Methods, Cash Flows and Economic Equalization of Cash Flows and Valuation Methods. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | BASIC CONCEPTS OF ECONOMY-1 (Definition and Objectives, Goods and Services, Production Factors, Cost, Market and Price, Value, Benefit, Money, Supply and Demand, Employment and Unemployment, Exchange Rates, Economic Growth and National Income, Purchasing Power Parity and Current Balance, Productivity, Interest, Price Movements, Economic Efficiency Measures, Engineering and Productivity, Economic Models, Financial Markets) | | | Week 2 | BASIC CONCEPTS OF ECONOMY-2 (Definition and Objectives, Goods and Services, Production Factors, Cost, Market and Price, Value, Benefit, Money, Supply and Demand, Employment and Unemployment, Exchange Rates, Economic Growth and National Income, Purchasing Power Parity and Current Balance, Productivity, Interest, Price Movements, Economic Efficiency Measures, Engineering and Productivity, Economic Models, Financial Markets) | | | Week 3 | ENGINEERING ECONOMICS DECISIONS (Project Types, Calculation of Project Investment Amount, Cost-Volume-Profit Relationships and Capacity Utilization) | | | Week 4 | FORECASTING MODELS (Introduction to Causal Models and Time Series Models) | | | Week 5 | TIME VALUE OF MONEY AND INTEREST CALCULATION METHODS-1 (Time Value of Money, Interest Related Concepts, Interest Calculation Methods and Interest Types, Some Special Situations Regarding Interest Transactions) | | | Week 6 | TIME VALUE OF MONEY AND INTEREST CALCULATION METHODS-2 (Time Value of Money, Interest Related Concepts, Interest Calculation Methods and Interest Types, Some Special Situations Regarding Interest Transactions) | | | Week 7 | CASH FLOWS AND ECONOMIC EQUALIZATION OF CASH FLOWS (Cash Flow Types, Interest Formulas) | | | Week 8 | VALUATION METHODS-1 (Present Value Method, Future Value Method, Net Present Value Method, Net Future Value Method, Annual Equivalent Revenue and Annual Equivalent Expense Method, Annual Equivalent Net Revenue Method, Internal Profitability Rate Method, External Profitability Rate Method, Payback Period Method, Project Employment Power, Foreign Exchange Earning Power, Value Added Creation Power) | | | Week 9 | Midterm Exam | | | Week 10 | VALUATION METHODS-2 (Present Value Method, Future Value Method, Net Present Value Method, Net Future Value Method, Annual Equivalent Revenue and Annual Equivalent Expense Method, Annual Equivalent Net Revenue Method, Internal Profitability Rate Method, External Profitability Rate Method, Payback Period Method, Project Employment Power, Foreign Exchange Earning Power, Value Added Creation Power) | | | Week 11 | VALUATION METHODS-3 (Present Value Method, Future Value Method, Net Present Value Method, Net Future Value Method, Annual Equivalent Revenue and Annual Equivalent Expense Method, Annual Equivalent Net Revenue Method, Internal Profitability Rate Method, External Profitability Rate Method, Payback Period Method, Project Employment Power, Foreign Exchange Earning Power, Value Added Creation Power) | | | Week 12 | VALUATION METHODS-4 (Present Value Method, Future Value Method, Net Present Value Method, Net Future Value Method, Annual Equivalent Revenue and Annual Equivalent Expense Method, Annual Equivalent Net Revenue Method, Internal Profitability Rate Method, External Profitability Rate Method, Payback Period Method, Project Employment Power, Foreign Exchange Earning Power, Value Added Creation Power) | | | Week 13 | EXPERT PARTICIPANT FROM THE SECTOR "Economic Analysis in Shipbuilding Projects" | | | Week 14 | GENERAL REVIEW LESSON | | | Week 15 | GENERAL REVIEW LESSON | | | Week 16 | End-of-term exam | | | |
| 1 | Okka, O. 2017;Proje Yönetimi ve Mühendislik Ekonomisi,KTO Karatay Üniversitesi Yayınları,Ankara.
| | | 2 | Okka, O. 2020;Mükendislik Ekonomisi Prensipler ve Uygulamalar,Nobel,Ankara. | | | |
| 1 | Işık,A.2005;Mühendislik Ekonomisi,Birsen Yayınevi,İstanbul. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | DUYURULACAKTIR | 1,5 | 50 | | End-of-term exam | 16 | DUYURULACAKTIR | 1,5 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 2 | 14 | 28 | | Sınıf dışı çalışma | 3 | 5 | 15 | | Arasınav için hazırlık | 4 | 6 | 24 | | Arasınav | 1.5 | 1 | 1.5 | | Dönem sonu sınavı için hazırlık | 4 | 5 | 20 | | Dönem sonu sınavı | 1.5 | 1 | 1.5 | | Total work load | | | 90 |
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