Course Details
Course Information Package
Course Unit Title | ENGINEERING ECONOMICS | ||||||||
Course Unit Code | CEC200 | ||||||||
Course Unit Details | |||||||||
Number of ECTS credits allocated | 5 | ||||||||
Learning Outcomes of the course unit | By the end of the course, the students should be able to:
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Mode of Delivery | Face-to-face | ||||||||
Prerequisites | NONE | Co-requisites | NONE | ||||||
Recommended optional program components | NONE | ||||||||
Course Contents | Overview of the Construction Industry Who the main players in the industry are, how they operate, how they interrelate, and their impact on each other and the industry. ‘Project-Level’ Engineering/Construction Economics Introduction to the main contracts and procurement methods emphasizing on the economic side. Pre-contract project economics: preliminary design costing, elemental cost analysis, detailed estimating, tender preparation, tender evaluation. Post-contract project economics: estimation of variations, preparation of valuations for interim payments, calculation of fluctuations, cost/value reconciliation. Other project economic issues: development appraisal, cash-flow comparison, maintenance studies, life-cycle costing. ‘Company-Level’ Engineering/Construction Economics Introduction to Accounting and Finance issues like: financial statements (the balance-sheet, the profit and loss account, the cash-flow statement), financial ratios. ‘Industry-Level’ Engineering/Construction Economics Introduction to micro- and macro-economics: micro-economics (supply, demand, equilibrium, elasticity), macro-economics (Governmental policies, unemployment, inflation, economic growth, exchange rates) | ||||||||
Recommended and/or required reading: | |||||||||
Textbooks |
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References |
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Planned learning activities and teaching methods | The course is delivered mainly through classroom instruction using powerpoint presentations and practical exercises. Current construction articles are presented and analysed. Classes are supplemented with numerous data and photograph presentations with regards to international construction developments. Discussion is generally encouraged. Class notes are made available to the students through e-learning. | ||||||||
Assessment methods and criteria |
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Language of instruction | English | ||||||||
Work placement(s) | NO |