Ryerson University Department of Economics

Faculty of Arts Spring 2013

CECN 801 Principles of Engineering Economics

Sections DB0 and DC0
Professional/Professionally Related Course

Contact
Instructor: Office: Office Hours: Phone: Email: Lecture: Blackboard: Dr. Pervez A. Umar, P.Eng. Distance, Online Mondays, 6:30 p.m. to 9:30 p.m. 416-979-5000 pumar@ryerson.ca Online my.ryerson.ca

Course Description
Engineering economics is concerned with the problem of investment decision making or capital expenditure analysis. An investment problem involves making a decision to allocate financial resources to acquire productive assets that will generate cash flows in future time periods. Engineering economics seeks to develop and apply a logically consistent methodology for evaluating investment projects. Discounted cash flow methods are used in analyzing such projects. In this course we will assume certain cash flows and ignore taxation implications. After developing the mathematics of cash flow equivalence, absolute and relative measures of project worth will be developed and applied to individual and multiple projects. The emphasis will be on private project decisions, but similar methods will be applied to public sector projects.

Course Materials
Park, Chan S., Ming J. Zuo, and Ronald Pelot (2012), Contemporary Engineering Economics A Canadian Perspective 3rd Canadian Edition, Pearson. See http://catalogue.pearsoned.ca/educator/product/Contemporary-Engineering-Economics-ACanadian-Perspective-Third-Canadian-Edition-with-Companion-Website3E/9780321749659.page

Course Evaluation
The weights and scheduled dates for the mid-term exams and final exam are following: Activity Assignment 1 Assignment 2 Final Exam Weight 30% 30% 40% Scheduled Date June 3, 2013 June 24, 2013 To be notified later

The mid-term exam 2 will cover the materials after mid-term exam 1. The final exam will cover the entire semester.
NOTES TO INSTRUCTORS:

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Ryerson University Department of Economics

(i)

Faculty of Arts Spring 2013

(ii)

If the Midterm exam is missed due to acceptable, documented, circumstances (see Common Departmental Course Management Policy below), please schedule the makeup exam through the Make-Up Test Centre (http://www.ryerson.ca/makeup/). Please ask all students to hand back the Midterm exam paper.

Course Topics
Topic 2 Time Value of Money and Economic Equivalence Topic 3 Understanding Money and its Management Topic 4 Equivalence Calculations under Inflation Topic 5 Present Worth Analysis Topic 6 Annual Equivalence Analysis Topic 7 Replacement Decisions and Economic Service Life Topic 8 Rate-of-Return Analysis Topic 9 Economic Analysis in the Public Sector

Specific Course Management Policy

Please read section 2 under Common Departmental Course Management Policy below. The Department of Economics policy is to permit only one make-up test/exam for a missed midterm test/exam. In this section please be specific as to what you are going to do if a student misses a make-up test/exam if you have one or two midterm tests/exams in the course.

Writing Center/English Language Support

Students who feel that their language skills need to be improved should visit the Writing Centre at Ryerson (LIB 272B, writingcentre.blog.ryerson.ca/). The Centre offers a series of workshops and other tools to help students improve their writing/verbal skills. For students whose first language is not English the English Language Support (www.ryerson.ca/studentservices/els/) offers task-based academic language workshops, individual help with written assignments, one-on-one conversation and pronunciation practice, as well as help with reading listening and oral presentations.

Math Assistance Centre

The Math Assistance Centre (LIB-549, www.ryerson.ca/mac/) is there to support students across campus with their math skills and math-related courses. The Centre currently offers individual tutoring, as well as running Facilitated Study (FA-ST) groups.

Access Centre
Students with disabilities who need special (access or academic) accommodations should register with the Access Centre in order to receive the proper accommodations in this course. The Access Centre webpage is www.ryerson.ca/studentservices/accesscentre/

Common Departmental Course Management Policy

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Ryerson University Department of Economics

Faculty of Arts Spring 2013

Students are expected to be familiar with all Senate policies regarding course management and academic conduct. These policies can be found on the Senates webpage: www.ryerson.ca/senate/policies/index.html. Some specific policies students with which should familiarize themselves:

1. Code of Conduct and Academic Disonesty

Students are expected to abide by the Code of Conduct which can be found on www.ryerson.ca/senate/student/index.html . Particular attention should be placed on the sections dealing with academic dishonesty.

2. Examination Policy
(i) No permission is ever given to a student to write a midterm test or final exam in advance of its date. (ii) A student who misses a midterm test can receive the accommodations outlined in the syllabus only if all of the following conditions are met: (a) The student notifies the instructor via e-mail and in advance of or during the date and time of the test or exam, or when the assignment is due. The student submits a Ryerson University Student Medical Certificate (www.ryerson.ca/content/dam/senate/forms/medical.pdf ) to the Undergraduate Program Administrator within 3 working days of missed or affected classes, assignments or tests. (b) The student must also submit www.ryerson.ca/senate/forms/academic_consideration_document_submission.pdf to the Undergraduate Program Administrator within 3 working days of missed or affected classes, assignments or tests. (iii) The Department of Economics policy is to permit only one make-up test for a missed midterm test. If a student misses the make-up test due to valid (documented) extenuating circumstances, then either the weight of this test is added to the final exam subject to the 70% rule (no single component of a course grade can be more than 70% of the total grade for the course) or the students will receve a zero grade. (iv) Students who do not write an assignment, a midterm test, or the final exam and fail to meet both criteria receive a zero grade for that course component. 3. Lecture and Test Rules (i) Students should check Blackboard regularly for announcements. (ii) Students should silence all cell phones before entering the lecture hall. (iii) For all exams: digital dictionaries, PDAs, cell phones and other electronic devices are not allowed. Books, papers, knapsacks and briefcases stay at the front or side of the lecture hall. The only items that you may have with you are pens, pencils, calculator (if allowed), identification, purses and coats. If you do not follow these rules you may be charged with academic dishonesty. (iv) For essays: Students should be very careful when using other peoples ideas in their own work. Plagiarism is a serious offence that carries severe penalties. Ryerson regulations on plagiarism can be found at: www.ryerson.ca/academicintegrity/ under the Undergraduate or Graduate link. 4. Religious Observance Policy (i) If a student wishes to reschedule a midterm or a final exam due to religious observance, it is the students responsibility to contact the instructor, via e-mail at least two weeks in advance.

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Ryerson University Department of Economics

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Faculty of Arts Spring 2013

To arrange an alternative date or time for a final exam scheduled in the formal period, students must complete an exam accommodation form which can be obtained on www.ryerson.ca/currentstudents/forms/index.html. The religious observance policy designed by senate can be found at www.ryerson.ca/senate/policies/pol150.pdf.

5. Exceptional circumstances If unforseen circumstances arise that can potentially affect a students performance in the course (financial distress, health/family problems) the student must inform the professor as soon as possible. Failure raise the issue in a timely matter could affect the ability to successfully appeal a course grade. 6. Grade Appeal Policy If a student thinks that there has been an error in the recording or calculation of a grade he/she should follow these steps: (i) Talk to the professor within 10 working days after the graded work is returned to the class (ii) If he/she cannot resolve the issue with the professor, the student can make a formal request for a grade revision, in writing, to the Undergraduate Program Director (Dr. Claustre Bajona). Formal requests for grade revisions should be filed before the appeals deadline. Semesterspecific appeal deadlines can be found in the Ryerson Calendar under Significant Dates. (iii) Students who request a regrading of their work, should be aware that as a result of the reassessment their grade could increase, decrease, or remain the same. The grade determined after the reassessment will be the students final grade. (iv) The Academic Consideration and Appeals Policy, which establishes the guidelines for formal appeals can be found at www.ryerson.ca/senate/policies/pol134.pdf. (v) Grade appeals or regrading requests filed after the appeals deadline will not be accepted.

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