engineering 361 engineering economics © dr. b. c. paul, 2001 revised 2008
Post on 18-Dec-2015
222 views
TRANSCRIPT
Engineering 361Engineering 361Engineering EconomicsEngineering Economics© Dr. B. C. Paul, 2001© Dr. B. C. Paul, 2001
Revised 2008Revised 2008
Why Am I Here? Top Why Am I Here? Top ReasonsReasons
I have a natural love for the subjectI have a natural love for the subject I heard a really good instructor was teaching the I heard a really good instructor was teaching the
coursecourse I like skipping my meal to feast on intellectual I like skipping my meal to feast on intellectual
stimulationstimulation I love the punishment and pressure (I also slam my I love the punishment and pressure (I also slam my
hand in the car door for fun)hand in the car door for fun) My department requires this course and I want to get My department requires this course and I want to get
out of here and make some moneyout of here and make some money The class is about money and how to get more of it – The class is about money and how to get more of it –
Whats not to like?Whats not to like?
Why Your Department Why Your Department Requires itRequires it
Your degree teaches you how to design thingsYour degree teaches you how to design things Building them costs moneyBuilding them costs money People Build Things Because They Make People Build Things Because They Make
MoneyMoney The difference between a paper decoration The difference between a paper decoration
and a project may come down to whether you and a project may come down to whether you can show it will make moneycan show it will make money
Another ReasonAnother Reason
Taking Care of #1Taking Care of #1 Personal Investments involve making moneyPersonal Investments involve making money Credit cards, loans and mortgages all require Credit cards, loans and mortgages all require
paying extra moneypaying extra money Choosing ways of meeting needs have both Choosing ways of meeting needs have both
extra costs and cost savingsextra costs and cost savings Understanding how money and interest works Understanding how money and interest works
helps you to keep more of the green for helps you to keep more of the green for yourselfyourself
How will I be Graded?How will I be Graded?
Grading will be based on points earnedGrading will be based on points earned Points come from Homework (about 23 Points come from Homework (about 23
problems) and Two Testsproblems) and Two Tests Each Test will be 25% of the grade (50% Each Test will be 25% of the grade (50%
total for tests)total for tests) Homeworks will be equally weighted and Homeworks will be equally weighted and
the average score will be 50% of the the average score will be 50% of the gradegrade
What Will You Do With What Will You Do With the Points?the Points?
Grading will be on a strictly % basisGrading will be on a strictly % basis 90% + = A90% + = A 80% + = B80% + = B 70% + = C70% + = C 60% + = D60% + = D <60% - You'll get to enjoy my course again <60% - You'll get to enjoy my course again
in the fallin the fall
What Kind of Tests Do What Kind of Tests Do You Give?You Give?
Tests are open book open notesTests are open book open notes If you can hook to internet you can use thatIf you can hook to internet you can use that If you want to bring a computer or financial calculator you can If you want to bring a computer or financial calculator you can
use thatuse that You cannot use another person in any formYou cannot use another person in any form
Usually about 2 problemsUsually about 2 problems Often similar to homework (another reason to do your Often similar to homework (another reason to do your
homework)homework) May have multiple problems with you picking what to doMay have multiple problems with you picking what to do
Don’t give you a do them all and take grade on bestDon’t give you a do them all and take grade on best Old Test Archives on the Web lets you look at previous Old Test Archives on the Web lets you look at previous
teststests I also have often posted practice tests.I also have often posted practice tests.
More on TestsMore on Tests
In general tests are time intensiveIn general tests are time intensive If don’t already have an idea what the If don’t already have an idea what the
answer isanswer is If your trying to do research during the testIf your trying to do research during the test Your probably a sunk monkeyYour probably a sunk monkey
HomeworkHomework
Homework is intended as an application Homework is intended as an application exercise for classexercise for class Get your hands on the problem or procedureGet your hands on the problem or procedure
Working in groups is acceptableWorking in groups is acceptable Sometimes learning from your peers or being the Sometimes learning from your peers or being the
teacher for a while is best way to learnteacher for a while is best way to learn
Everyone must turn in an individual assignmentEveryone must turn in an individual assignment Just copying the work of others is not Just copying the work of others is not
acceptableacceptable
Homework TimingHomework Timing
Most homework can be done in 20 minutes or Most homework can be done in 20 minutes or lessless If it is taking you more you have probably become If it is taking you more you have probably become
lost (might be good to consult a friend or the lost (might be good to consult a friend or the instructor)instructor)
Warning on Wait till 30 minutes before class Warning on Wait till 30 minutes before class approachapproach Often are best able to do homework right after Often are best able to do homework right after
learning about how – not waiting several dayslearning about how – not waiting several days If something goes wrong you won’t make itIf something goes wrong you won’t make it
TextbookTextbook
Don’t require a textbookDon’t require a textbook Makes class attendance more criticalMakes class attendance more critical
Some People Learn Best from Reading or Alternate Some People Learn Best from Reading or Alternate PerspectivesPerspectives Engineering Economic AnalysisEngineering Economic Analysis Donald G. Newnan, Jerome P. Lavelle, Ted G. EschenbachDonald G. Newnan, Jerome P. Lavelle, Ted G. Eschenbach (8(8thth Addition) Addition) Or Essentials of Engineering Economic Analysis Or Essentials of Engineering Economic Analysis Donald G. Newnan, Jerome P. Lavelle, Ted G. EschenbachDonald G. Newnan, Jerome P. Lavelle, Ted G. Eschenbach (2nd Addition)(2nd Addition) Two books are same for chapters coveredTwo books are same for chapters covered
Portions of these books are available on-linePortions of these books are available on-line
Comments on Learning Comments on Learning ResourcesResources
Resources AvailableResources Available Class Lectures (attending class)Class Lectures (attending class) Doing ProblemsDoing Problems Class WebsiteClass Website
Class AttendanceClass Attendance
In general this is #1 correlation with A studentsIn general this is #1 correlation with A students Professors are most likely to test what they teachProfessors are most likely to test what they teach
If its on their mind when their lecturing its likely to be on their If its on their mind when their lecturing its likely to be on their mind when they testmind when they test
My class is designed to emphasize lecture heavilyMy class is designed to emphasize lecture heavily Material found only in the text book isn’t going to be on the testMaterial found only in the text book isn’t going to be on the test My approach to subject differs from the bookMy approach to subject differs from the book
Uses a lot of examples to illustrateUses a lot of examples to illustrate Uses a lot of intuitive logic as opposed to proofs and derivationsUses a lot of intuitive logic as opposed to proofs and derivations
Doing ProblemsDoing Problems
Given a series of assigned problemsGiven a series of assigned problems Most assignments are a single problemMost assignments are a single problem Purpose is to give you hands on experience Purpose is to give you hands on experience
practicing something covered in lecturepracticing something covered in lecture An issue of BalanceAn issue of Balance
Tried to keep modest reasonable workload for 2 Tried to keep modest reasonable workload for 2 credit classcredit class
ProblemProblem Some people learn by repeatedly doingSome people learn by repeatedly doing Not enough homework problems to beat it into Not enough homework problems to beat it into
your skullyour skull Can do supplemental problems from bookCan do supplemental problems from book
Class WebsiteClass Website
Web site has copies of all lecture notes Web site has copies of all lecture notes postedposted Some print out and take notes besideSome print out and take notes beside Warning – some feel easy access to notes Warning – some feel easy access to notes
removes need to attend classremoves need to attend class Not enough text on power point slides to teach Not enough text on power point slides to teach
everythingeverything
www.engr.siu.eduwww.engr.siu.edu
Enterwww.engr.siu.edu
This brings up theCollege Web Site
By the time I show you how to get there you’ll be ready to Book Mark
From the Faculty and Staff From the Faculty and Staff Page Click the Coolest Page Click the Coolest Faculty MemberFaculty Member
Which is MeOf Course!
(Dr. Bradley C Paul)
Because of Copyrighted Because of Copyrighted Materials the Site is Materials the Site is Password Protected to Password Protected to Ensure Academic Fair UseEnsure Academic Fair Use
This is tough
Your User Name isCurrentStudent
Your Password isSenior Design 460
I Know All that Digging Was Fun I Know All that Digging Was Fun But You May Want to Consider But You May Want to Consider Bookmarking this as a Favorite (ok Bookmarking this as a Favorite (ok at least for now)at least for now)
Has lists of classTimes, room numbersContact information
Also has a ReadingRoom.
Reading Room Has an Area Reading Room Has an Area for Engineering Economicsfor Engineering Economics
Well – At Least the Part Well – At Least the Part We CoverWe Cover
Files will downloadAs PDF
(Means you needAdobe Acrobat onYour computer –It’s a free program)
Has Problems from Has Problems from Textbook Available (if you Textbook Available (if you need drilling practice)need drilling practice)
Also has the InterestFormulas and Tables(relax if you don’tKnow what they areRight now)
Has specific readingsFor each lecture(if you want to doSupplemental reading)
The Class WebsiteThe Class Website
The textbookThe textbook The textbook or parts covered are available online The textbook or parts covered are available online
as PDF filesas PDF files Can read book anywhere you have accessCan read book anywhere you have access Do I need to buy the textDo I need to buy the text
Tried to design so that you don’t have to spend your Tried to design so that you don’t have to spend your moneymoney
If you don’t buy you won’t have the resourceIf you don’t buy you won’t have the resource Future referenceFuture reference May not always have web access during test – tests are May not always have web access during test – tests are
open book but have to have the bookopen book but have to have the book
Back to the Introductory Back to the Introductory PagePage
Scrolling Down We SeeSupplemental Class Resources
Now We Are In the Area Now We Are In the Area to Find Those Course to Find Those Course NotesNotes
Hey!! Here’s Our Course
Features of Where We Features of Where We AreAre
It tells you what lecture we are on.
You can track when assignments arePosted and due (in case your not sureWhether you went to sleep during class)
Key Announcements cover things like upcomingtests
Tips can giveAnswers toProblems I findComing up.
What Else is ThereWhat Else is ThereYou Can See if ThereWas an assignmentIssued with a lecture
You can pull upSelected reading forThe lectures
The Assignment PageThe Assignment Page
Gives Issue and DueDates
Tells about whetherIs has been turnedIn or graded
Wouldn’t be complete if it didn’t give you the assignment
Has all the usual Syllabus Has all the usual Syllabus StuffStuff
Here
Note that you were notGiven a paperSyllabus because itsAll on-line.
Links to Previous TestsLinks to Previous TestsSome With and Some Some With and Some Without a KeyWithout a Key
The Class WebsiteThe Class Website
Old Test ArchivesOld Test Archives Can get copies of old tests, often with the answer Can get copies of old tests, often with the answer
keyskeys
Helpful for seeing what kind of questions the Helpful for seeing what kind of questions the professor asksprofessor asks
May take the test and then use key to May take the test and then use key to evaluate your answerevaluate your answer In general I discourage the look at question – look In general I discourage the look at question – look
at answer and say “Oh I know that method”at answer and say “Oh I know that method”
Material for Each TopicMaterial for Each Topic
Lecture notesEither in PowerPoint or HTML(for those withoutPower point or aReader)
Some lecturesHave a RealplayerAudio lecture
Links to ReadingAssignments orAssignments ifapplicable
The Resources PageThe Resources Page
The Formulas for Discount Factors
Key Chapters from the Textbook
Extra Homework Problems (for those who need to beat it in)
Materials Pertaining to Tax Law
More Resources StuffMore Resources Stuff
Quick Review of the Course the way I organize it
Useful Spreadsheets
Whats Useful About Whats Useful About Them?Them?
Class Assistant Does All theBasic Types of CalculationsNeeded for this class
Nice Alternative toBuying a specialCalculator or a lotOf time doing math