ENGINEERING ECONOMICS (CCE)

SHE Level 4
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MHL124609
Module Leader Martin MacDonald
School School of Computing, Engineering and Built Environment
Subject SCEBE - School Office
Trimesters
  • A (September start)
  • B (January start)

Summary of Content

-3 The module develops concepts raised in the Engineering in background courses and provides students with some technical detail of economics and for engineers. As engineers take responsibility for the biggest projects possible, it is essential that student engineers grasp some key concepts and, hence this module is necessary.

Syllabus

-188 -The scope and nature of economics and economic analysis. -The basic economic problem. -Economic systems and their evolution. -The market economy and changes in market price for products and resources.-3 -200 -Costing and pricing. Budgets. Break-even. Costing factors of production. -Estimating, tendering and pricing. -Investment decisions. Project investment analysis. Discounted cash flow. Life cycle costing -Economic and accounting profit. Balance sheets. Cost benefit analysis. Risk. -Appraisal of public investment projects. Economic regulation of public utilities. -Principles and practice of project management; work breakdown structures, critical path networks. -PERT, resource charts, cost charts, S-curves, performance ratios.

Learning Outcomes

On successful completion of this module the student should be able to:Demonstrate the effect of money value of time, the costs and benefits of safety and effects on the environment; and their impact on evaluating projects from both private and public perspectives. (A6, B4, C1, C3, D4, D7).Understand how costing affects price levels (A4).Appreciate the role of public authorities in regulating the activities of the utilities. (A3,A4,B1, D1)Identify the key factors affecting the success of a project. (C1, C5, D6).Relate key issues of contracts and tort to uncertainty and risks in construction management. (C1, C5, D6)Demonstrate independent thought in coming up with solutions to practical management problems (A3, A4, D3).

Teaching / Learning Strategy

Lectures will concentrate on principles and students will be expected to undertake significant private study and group discussions based on some case studies. Project work will be a mix of individual work and presentations. Tutorials will be used to reinforce the module material discussed during lecture sessions. Tutorials also serve as a platform of technical discussions to clarify any queries that arise from directed studies .

Indicative Reading

-360-2 1. Payne Ac, Chelsom Jv & ReavillRp, (2008), Management for Engineers . John Wiley and Sons . 2. Layard, R & Glaister, S,(2010). Cost Benefit Analysis , Cambridge University Press, 3. PILCHER, R. ( 1992). -2 Principles of Construction Management, 3 rd Ed , McGraw Hill , -360 4. Beardshaw J et al (1998) Economics-A Students Guide 4th edn. Addison. 5. Begg, David K H (2000) Foundations of Economics. McGraw Hill.

Transferrable Skills

Knowledge and understanding of the concepts, Independent and group working, Planning and monitoring the process of construction projects and effective time management , Effective communication: written and oral skills

Module Structure

Activity Total Hours
Assessment (FT) 16.00
Lectures (FT) 56.00
Independent Learning (FT) 100.00
Tutorials (FT) 28.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam (Exams Office) 2.00 50.00 45% Final Examination - Unseen written - 2 Hours
Exam (School) 1.50 20.00 n/a Mid-term test : 10% (Unseen written 1½ Hours)
Coursework 1 n/a 30.00 n/a context based report (1500 words) economics in engieering projects in the context of Oman.