Engineering Economy
joelmeler
course_objectives_fall_2015_ien_380.docxEngineering Economy (IEN 380)
Section E, Fall 2015 LC190
M, W & F 12:20 pm – 1:10 pm
Instructor: Dr. Nina Miville
305-284-6225
Office Hours: M, W, F – 10:30 am – 12:00 pm
M – 3:30 – 5:00 pm
T & R – 10:00 – 12:00 PM;
MEB 275
Text: Engineering Economy, 7th edition, Blank & Tarquin
Course Objectives:
The course objectives are to introduce the student to principles, concepts and methodologies of engineering economy; and to use spreadsheet modeling techniques for analyzing engineering economy problems.
Topics:
1. Foundations of Engineering Economy (Chapter 1)
2. Factors: How time and Interest Affect Money (Chapter 2)
3. Combining Factors and Spreadsheet Functions (Chapter 3)
4. Nominal and Effective Interest Rates (Chapter 4)
5. Present Worth Analysis (Chapter 5)
6. Annual Worth Analysis (Chapter 6)
7. Rate of Return Analysis: One Project (Chapter 7)
8. Rate of Return Analysis: Multiple Alternatives (Chapter 8)
9. Benefit-Cost Analysis and Public Sector Economics (Chapter 9)
10. Project Financing and Noneconomic Attributes (Chapter 10)
11. Replacement and Retention Decisions (Chapter 11)
12. Independent Projects with Budget Limitation (Chapter 12)
13. Breakeven and Payback Analysis (Chapter 13)
14. Effects of Inflation (Chapter 14)
15. Depreciation Methods (Chapter 16)
16. After-Tax Economic Analysis (Chapter 17)
17. Sensitivity Analysis and Staged Decision (Chapter 18)
Class Rules:
1. Arrival to class must be prompt. Late comers are highly discouraged. I will try my best to make it on time and I expect it from others.
2. Attendance policy – While attendance is not mandatory, you are expected to attend class. That is where the primary teaching will occur. Office hours are for additional help not for teaching the material because you were not in class. Here are my expectations regarding attendance:
a. I expect students to attend class and if you will not attend , it is your responsibility to get the notes and power points from a classmate. So make arrangements prior to your absence. I do not post notes on Blackboard.
b. If homework is due, it is your responsibility to make arrangements to have your homework turned in before-hand.
c. If you are ill, I expect an email to let me know of your absence. If I don’t get an email before class, I will not accept your homework after the due date. Homework is due on the subsequent class or it will not be accepted.
d. On exam and quiz dates, do not miss class. I do not have make-ups for quizzes or exams. If you have extreme circumstances ( that I consider extreme ), then come see me during office hours and I will determine the validity of the excuse. So please review the dates and make sure that you attend class on those days.
e. If you miss the first week of class, you will be severely behind and as such you should consider dropping the course. We begin lectures, materials and assignments on the first day. If you are adding the course after the first day of class, you must attend class during the first week. So please make every effort to attend even if you have not completed registration.
3. There will be an environment of efficient communication by listening to each other. This implies that one person talks at a time. In addition, no cells or pagers must be on. Anyone caught with a cell phone ringing or pager on will lose 5 points from their final grade for each time.
4. Because of the increased disruption by students surfing the net and working on assignments from other classes, laptops, notebooks, i-pads or any electronic devices are not allowed on/out during class. Unless you have a disability that precludes your ability to take notes with old fashion pen/paper, don’t ask to use it.
5. Quizzes and Tests are open notes and closed book. Students will be given a copy of the factor tables for the exam. Make sure you have your own calculators that are not web-enabled. There is no sharing during an exam. In addition, you will be asked to turn in your cell phones to the professor at the beginning of the exam. They will be returned when you turn in your exam. No make-up test will be given. Exams will be given on a Tuesday or Thursday evening from 5:00 pm – 7:00pm or 6:30pm – 8:30 pm throughout the semester. Please note these on the syllabus and be prepared to take the exams on those days. Rooms to be announced in class.
6. Homework problems are assigned and you are to turn them in on-time. On-time is considered at the beginning of class. Where required the assignment will need to be done in Excel. No late assignments will be accepted at all. An assignment is considered late at the end of class.
7. There is no curving in this class so don’t ask. I provide other opportunities for improving your grades
8. Cheating and/or plagiarism will not be tolerated. If you are caught on a quiz, exam or homework, you will fail that quiz, exam or homework, and be asked not to return to my class. I will not discuss alternatives. Academic Integrity and Honor Code will be strictly observed and enforced !!!
9. Religious Holidays – The University has a policy on "Holy Day" observances due to the vastly increased different religions among the student population. The policy states that a student has the option of observing a religious holy day under certain circumstances:
a. You will be allowed three absences (days) for religious observances per semester.
b. You MUST inform the professor of the days chosen in the first week of class in WRITING.
c. Failure to notify the professor during the required time will lead to an unexcused absence and thus not be allowed to make up the work.
d. Travel days are NOT included.
e. Make-Up work will be assigned after you return to class.
f. For more information you can refer to the University Bulletin - http://www.miami.edu/index.php/academicbulletin/GeneralUniversityInformation/undergraduate_academic_procedures_and_information/course_information/
10. Research information- A key to successful research is to use reliable, high-quality information sources. While high quality information can be found on the open Web, it can be hard to pick out from the vast amounts of unreliable and unsourced material that also exist there. Using the library is the best way to ensure you are using the best research sources. The University of Miami Libraries have millions books, articles from scholarly journals, magazines and newspapers as well as videos, reference materials and a wide range of other materials all collected, categorized and organized for your convenience, much of it available online.
The best place to begin your research is at the engineering research guide at libguides.miami.edu/engineering. The research guide provides direct links to Knovel, the premier online engineering reference resource; the ASTM digital library including a full collection of their standards; and Compendex and Inspec, top indexes to engineering journal articles and conference proceedings. You can also visit the library homepage, library.miami.edu. There you can use Articles+ as a multi-purpose first stop search for any topic, find books and other material in the library catalog, or explore the library's other services including citation managers to organize your research, digital media production programs and equipment, and tutorials for foreign languages and software packages.
Industrial Engineering students will also find the business research guide at http://libguides.miami.edu/business to be useful. It contains links to the library's databases of scholarly business research, trade journals, newspapers and business and industry reports. Topics covered include industrial safety regulations, process optimization and ergonomics.
Along with the website, the library's most useful resources are the librarians who are there to help you find the information you need for your work by pointing you to the most appropriate resources and showing you the best search techniques. Each of the librarians in the Education and Outreach department specializes in different subject areas. The subject librarian for engineering is Bill Jacobs who can be reached at [email protected]. You can also find help at the Reference Desk just inside the Richter Library turnstiles and the Ask-a-Librarian e-mail and IM services on the library website.
Use of Wikipedia: Wikipedia is not a valid source for several reasons. First, it is an encyclopedia—a summary of analysis of original work. That synthesis of ideas is your role. Also, because it is publicly edited and on the open Web, it has other flaws:
a. In controversial areas it commonly falls prey to faddishness or gets whittled down to vague generalities by factions of editors cutting what they find objectionable.
b. The references at the bottom of Wikipedia articles can point to more reliable information, but they are chosen for public accessibility above quality and you have access to much more through the library’s subscriptions paid for by your tuition.
There is nobody responsible for checking to see if those articles say what the Wikipedia-editor says they say, so they frequently don’t.
Grading Policy:
Test 1 25%
Test 2 25%
Test 3 25%
Quizzes 10%
Homework Assignments 10%
Financial Crisis Assignment 5%
Grading Scale: Yes this is the scale and yes, I do not curve.
A - 90 and above
B - 80 – 89.99
C - 70 – 79.99
D - 60 – 69.99
F – anything below a 60. Yes I have failed students.
Homework Assignments – Throughout the semester Problems and assignments will be given with expected due dates.
Financial Crisis Assignment: In 2008, the world financial system was on the brink of failure and the US Government made a series of decisions to prevent world “meltdown” of the financial systems. The justification was “Too Big to Fail”. An HBO movie has come out called “Too Big to Fail”. In 2010 the movie “Inside Job” came out and it is a documentary of the financial crisis in the United States. I would like you to watch both films and do some research on the basis of these films.
After that, you need to write a 5 to 7 page paper that is typed, single space with 1 inch margins, Times-Roman 12pt font. The page count does not include a cover page or reference page. In the paper you need to address the following items:
1. You need to provide a summary of what the “Financial Crisis” was in the United States.
2. Compare the two films and discuss which one portrays a more accurate representation of the real events. Please refer to research that you found on the events to support this. You may find that both are accurate in a different area. That is ok.
3. Determine if legislation has been passed to overhaul the lending and banking system as a response to this crisis. Please provide an overview/ explanation of this legislation.
4. Pick three items that were part of the crisis and/or legislation and explain how it impacts, good or bad in your opinion, the profession of Industrial Engineering or businesses that Industrial Engineers will be employed in.
5. Finally, what ethical implications were involved in this financial crisis and how does it relate to the Code of Ethics for Industrial Engineers?
I expect you to watch both films, do research and to go to the actual legislation and read it. You need to do research and provide references in your paper. The paper should be between 5 to 7 pages typed not including a cover page or reference page. In addition, in text citations and appropriate referencing is required in addition to a well written paper in English.
Syllabus
