ENGR280EngineeringEconomics

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,ENGR 280 Engineering Economics,Faculty of Engineering,University of Victoria,Fall 2005,1,Teaching Group:Instructor,Dr.Wei Li,Adjunct Assistant Professor,Research:Wireless Communication Engineering,Office:ELW B356,(ENGR280 Home!),2,Teaching Group:Teaching Assistants,Craig TippingTutorial and Quiz Group 1,(Students with Last Name A-M,),Le Yang Tutorial and Quiz Group 2,(Students with Last Name N-Z,),Hanfeng ChenFinal Quiz,final mark,Jing ZhongReport,Homepage,3,Introductions,What Wei will do.,Text Books,Lectures and Projects,Quiz and Tutorial,Marking Schemes,Office Hour,4,Wei,(We?),will,Work,hard,and work,smart,Communicate with teaching group when needed,Know the required content of the text book,Practice problems and examples in the text book,Show up in all Quizzes,Practical Reports,Keep quiet in classroom,Relax and have fun,5,Text Book,Engineering Economics in Canada,3,rd,Edition,Niall M.Fraser,Elizabeth M.Jewkes,Irwin Bernhardt,May Tajima,University of Waterloo,ISBN:0-13-126957-7Pearson Education CanadaCopyright:2006,6,Reference Books,Economics:Canada in the Global Environment Michael Parkin and Robin Bade.,Contemporary Engineering Economics:A Canadian Perspective,Addison Wesley Co.by Park,Porteous,Sadler and Zuo(1995).,Engineering Economics,2nd Canadian Edition,McGraw Hill Ltd.by Riggs,Bedworth,Randhwa,and Khan(1997),7,Lectures and Project,Classroom Lectures,Sept.13,2005-Dec.2,2005,TWF,11:30-12:30,ELL168(ELL 061),Slides will be on web,Practice Problems,5 groups of practice problems will be given,All the problems will be chosen from the text book,Solutions will be given in tutorial classes,Project:Group Study,Practical Application:Find a project topic,Project report,team work!,At least 3,up to 6 students a group,8,Quizzes and Tutorial,Quizzes and final quiz(all in class)(in two classrooms),Based on examples and problems in the text book,45 minutes long,about 5 problems,Tutorial(in two classrooms),Tutorial will follow the quizzes and cover practice problems,Extra time will be given for questions in tutorials,When and where,Time:announced in class,on the web(might be changed),Room:ELL 168 and ELL 061,Have to skip a quiz?Contact me before you do that!,9,Marking Scheme,Practice Problems00%,5 quizzes 10%each50%,Final quiz25%,Project Report25%,10,Office Hours,In Tutorial,There will be question and answer time in tutorial,Other than Tutorial,Wednesday3:30-4:20ELW B356 or B335,Friday3:30-4:20ELW B356 or B335,Email me before your visit,thanks.,11,Teaching/Studying Method,Multi-media,Power point presentation(PDF on Web),Email/Web communication,Important,Do not miss quizzes,Submit report on time,Key to success,Study the examples and problems in text book,Report should be complete,practical,and original,12,Website.,13,Why is This Course,Important,to You?,It is required(the rule.),Background in economics and finance is an important part of your education,Engineering is one of the better paid professions.,14,Why is This Course Important to,YOU,?,Buy a car(leasing versus buying,cash or loan,cash or interest discount),home(mortgage:points,interest,duration),Put children through college(options for saving money),be prepared for retirement:,Many companies offer tax-deferred savings plans to employees.How do you pick a good plan or plans?,Many companies offer stock options to employees.Some Intel employees have become millionaires through stock options.What is there to be concerned about in investing in company stock options?,15,Key Issues,Important,Do not miss quizzes,Submit report on time,Key to success,Study the examples and problems in text book,Report should be complete,practical,and original,16,Summary,Getting the idea is important,not the numbers,Teaching Group is here to help you,5 Quizzes,1 Final Quizzes,1 Project,No copy machine:everything on web,17,What is Engineering Economics?,Subset of General Economics,Not concerned with general economics situations-concerned with project at hand only,Analysis performed by technical professionals(not economists),Requires advanced technical knowledge in some cases,18,Engineering Economists Answer,Why do this at all?,Is there a need for the project?,Why do it now?,Can it be delayed?Can we afford it now?,Why do it this way?,Is this the best alternative?Is this the optimal solution?,Will the project pay?,Will we run a loss or make a profit?,19,Sample Situation,Hydro:,expensive initially,far away from load centres(high transmission cost),no fuel required,longer life,no pollution,Thermal,less expensive initially,can be near load centres,require fuel,shorter life,can cause pollution,Hydro vs.Thermal power,20,Other examples,Buy vs.rent(car,house,equipment),Good quality(expensive)but longer life vs.poor quality(cheap)but shorter life,car,shoes,computers,Investments decisions-GIC,RRSP,Bonds,Stocks and Shares,Steel vs.concrete bridge,Capacity expansion problems,21,Choosi