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Econ 2152
Engineering Economics and Finance
Spring 2013
L1: Venue: 4504 Time: Monday 1:30pm-3:20pm

Course website: http://lmes.ust.hk

Instructor: YU, Yan
E-mail: yanyu@ust.hk
Phone: 2358-7627
Office Hours: Tuesday 1:30-2:30pm or by appointment
Office: Room 2341

Teaching Assistant: Zeng, Xueyang
E-mail: xzengab@ust.hk
Office Hours: Wednesday 2:30-3:30pm
Office: TBA

Course Description:
This course teaches a systematic way to evaluate the economic worth of proposed
solutions to engineering problems. Topics include: the valuation of a sequence of cash
flows; how to compare alternatives; dealing with uncertainty; demand and supply theory;
and the efficiency and equity of perfect competitive markets.

Course Intended Learning Outcomes:
On completion of this course, you will be able to:
1. Evaluate the economic worth of engineering projects; and compare and select the
best project(s) based on their economic worth. (SO3)
2. Explain and apply some fundamental concepts and theories in Economics. (SO4)

Teaching Approach
This course is primarily delivered through lectures.
Teaching & learning
activities
Roles in the course Course learning outcomes
addressed
Lectures Learn key concepts,
methods, and models and
their applications
1, 2
Homework assignments Practice problem-solving 1, 2
Essay Apply knowledge learned 1

There is no tutorial for this course.


Textbook:
Required: Customized textbook that consists of chapters from
Sullivan, Wicks, and Koellings Engineering Economy and Parkins Microeconomics.
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Grades:

Assessment Activities Weighting Course ILOs assessed
Best 3 of 4 Homework
assignments
18% 1,2
Essay 12%
1 midterm exam 25% 1,2
1 final exam 45% 1,2

Topic objectives (in order to achieve the course intended learning outcomes) will be
stated at the beginning of each topic. Exams will be based on topic objectives.

Essay: topic is how to prepare for my retirement. In the essay, you should include (1)
the past performance of possible investment alternatives and your estimate of future
expected return of those investment alternatives, (2) your estimate of your future income
based on your professions compensation data, (3) your life expectancy, based on
reasonable analysis, (4) how much saving(or other asset portfolio) is needed for your
retirement and how you will achieve it, (5) include measures to deal with uncertainty.
Essay is due April 29
th
Monday at the beginning of lecture.

In the case of missed mid-term, its weight will be given to the final at a 5% discount. In
that case, your final will weight 65%. In the case of a missed final (with a valid excuse), a
make-up exam will be given.

Please note that the exams are close-book exams. You are NOT allowed to bring any
cheat sheet with you. Some relevant formulas will be printed at the cover page of the
exam paper.

Please check website for your grade of homework assignments and midterm as soon as
you get them back. Any discrepancy should be reported to TA within 1 week from the
date of returning your assignments and midterm. Late complaints will not be entertained.

Academic Integrity
Please read the information on academic integrity carefully and follow the
instruction: http://www.ust.hk/vpaao/ug-guide/integrity/ . You should be familiar
with Academic Honor Code and the content on Academic Integrity website.

I try my best to make the course requirement as clear as possible. When you have any
question and when you encounter any difficulty in studying, please do not hesitate to
consult me either in or out of class throughout the semester. Id be delighted to help you
succeed in the course. Please remember that ultimately it is you who are responsible for
your performance in the course. It is that you earn the grade, not I give you the grade!
You know what grade you need to earn (or want to earn) for graduation, scholarships,
exchange opportunities, honors, etc. So, when the grade is out, one thing that I absolutely
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will NOT do is to change your grade because what you want (need) is different from
what you get.
Course Outline:
I. Fundamentals of Engineering Economy
1. Introduction: Sullivan Chapter 1, Parkin Chapter 1
2. Time value of Money: Sullivan Chapter 4

II. Tools for evaluating projects:
1. Single Project Evaluation Sullivan Chapter 5
1) Present Worth method
2) Future Worth method
3) Annual worth method
4) Internal Rate of Return Method
5) External Rate of Return Method
2. Comparing Alternatives Sullivan Chapter 6
3. Dealing with Uncertainty Sullivan Chapter 11

III. Basics of Economics
1. Demand and Supply Model Parkin Chapter 3
2. Efficiency and Equity Parkin Chapter 5
3. Government Actions in Markets Parkin Chapter 6 (if time allows)

Midterm is on April 8
th
, Monday 7-9pm.Venue to be announced later. There is no
lecture on that day. Midterm covers chapter 4, 5, 6 of Sullivan part of the textbook.

Intended Learning Outcomes of Engineering Graduates
1) An ability to apply knowledge of mathematics, science, and engineering
appropriate to the degree discipline.
2) An ability to design and conduct experiments, as well as to analyze and interpret
data.
3) An ability to design a system, component, or process to meet desired needs within
realistic constraints, such as economic, environmental, social, political, ethical,
health and safety, manufacturability and sustainability.
4) An ability to function on multi-disciplinary teams.
5) An ability to identify, formulate, and solve engineering problems.
6) An understanding of professional and ethical responsibility.
7) An ability to communicate effectively.
8) An ability to understand the impact of engineering solutions in a global and
societal context, especially the importance of health, safety and environmental
considerations to both workers and the general public.
9) An ability to recognize the need for, and to engage in life-long learning.
10) An ability to stay abreast of contemporary issues.
11) An ability to use the techniques, skills, and modern engineering tools necessary
for engineering practice appropriate to the degree discipline.
12) An ability to Use the computer/IT tools relevant to the discipline along with an
understanding of their processes.

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