COURSE INFORMATION Course Title: ECONOMIC DECISION ANALYSIS IN CONSTRUCTION

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
CE 821	C	1	3	0	0	3	7.5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Julinda Keçi
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Elective
Classroom and Meeting Time:
Course Description:	-
Course Objectives:	The objective of the course is to provide engineers and managers with the knowledge of principles, basic concepts and methodology of economic decision analysis. This will assist the students to develop proficiency with the methods and with the process for making rational decision they are likely to encounter in professional practice.

COURSE OUTLINE

Week	Topics
1	Introduction
2	Engineering economic decisions, cost concepts, time value of money, interest formulations
3	Present worth(NPV)analysis, future worth, annual worth
4	Application and Analysis
5	Internal rate of return, payback period method
6	Comparing alternative investments
7	Application and Analysis
8	Depreciation methods;
9	Application and Analysis
10	Equipment economics:Equipment costs, Ownership and operating costs,Buy/Rent/Lease options, Replacement analysis.
11	Limitations of sensitivity analysis Using probability distributions
12	Decision trees
13	Cost estimating: Types of Estimates,Approximate estimates – Unit estimate, Factor estimate, Cost indexes, Parametric estimate, Life cycle cost.
14	Application and Analysis

Prerequisite(s):
Textbook:	W.G. Sullivan, E.M. Wicks, C.P. Koelling, “Engineering Economy”, Prentice Hall International, 16th Ed., 2014.
Other References:
Laboratory Work:
Computer Usage:
Others:	No

COURSE LEARNING OUTCOMES

1	apply the knowledge of systematic evaluation of the costs and benefits of proposed technical and business project and ventures
2	identify what is needed to perform an engineering economy study
3	understand cost concepts, cash flows, their estimation and interest formulae
4	be familiar with various methods for economy studies and comparing alternative investments
5	understand various depreciation methods and learn about the effect of income tax on economy studies
6	use spreadsheet functions to solve engineering economy problems

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Doctorate (PhD) in Civil Engineering Program
1	an ability to apply knowledge of mathematics, science, and engineering
2	an ability to design a system, component, or process to meet desired needs	5
3	an ability to function on multidisciplinary teams	4
4	an ability to identify, formulate, and solve engineering problems	3
5	an understanding of professional and ethical responsibility	2
6	an ability to communicate effectively	2
7	the broad education necessary to understand the impact of engineering solutions in a global and societal context	4
8	a recognition of the need for, and an ability to engage in life long learning	2
9	a knowledge of contemporary issues	4
10	an ability to use the techniques, skills, and modern engineering tools necessary for engineering practice	4
11	skills in project management and recognition of international standards and methodologies	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Project	3	30
Quiz	1	10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	14	4	56
Mid-terms			0
Assignments	3	25	75
Final examination			0
Other	1	8.5	8.5
Total Work Load:			187.5
Total Work Load/25(h):			7.5
ECTS Credit of the Course:			7.5