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Engineering Economy (Fall 2011) |
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| Course code : | ME-ECO-U1 | ||
| ECTS Credits : | 5 | Status : | Compulsory |
| Revised : | 14/07 2010 | Written : | 26/08 2008 |
| Placement : | 1. semester | Hours per week : | 4 |
| Length : | 1 semester | Teaching Language : | English |
| Objective : | The overall course objective is to give the students an understanding of the basic concepts and models within engineering economy. This should enable the students to identify, analyse, and solve design economic problems and to evaluate the solutions. A student who has met the objectives of the course will be able to: • Optimize the combination of substitutable production factors. • Optimize a production within limited resources. • Evaluate relationships between prices and sale. • Optimize production, combining cost and market information. • Calculate product cost. • Describe the economical consequences of an investment proposal. • Evaluate the profitability of alternative investment proposals. |
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| Principal Content : | Basic engineering economy concepts and models in the areas of 1) Engineering economy and the design process, 2) Costs concepts and the design economy, 3) Theory of markets, 4) Cost-driven designs optimization, 5) Theory of investments, and 6) principals of accounting and budgeting. |
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| Teaching method : | The teaching is based on "learning by doing". There will be introductory and summing up lectures. Project work in small groups including case studies. | ||
| Required prequisites : | - | ||
| Recommended prerequisites : | - | ||
| Relations : | Projects 1-4, Engineering Materials, Industrial Design, Product Design, and Manufacturing Technology. | ||
| Type of examination : | Attendance and assignments submitted | ||
| External examiner : | None | ||
| Marking : | 7 step scale | ||
| Remarks : | This course is primarily for students enrolled in the program “Engineering Design & Industrial Innovation”, offered by the Department of Mechanical Engineering. | ||
| Teaching material : | C.Patrick Koelling, William G. Sullivan, and Elin Wicks, “Engineering Economy”, 14th edition, Pearson, ISBN-13: 9780136142973 | ||
| Responsible teacher : | Ulrik Fønss
, ufon@dtu.dk |
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