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• Information Fusion
• Congestion in Facilities Location and Layout
• Facility Layout (Re)Design
• Agile Manufacturing
• Real-Time Visualization
• Sensor Networks
• Facilities Design and Cellular Manufacturing
• Operations of Production Systems
• Variant Design
• IE 684: Networks, Routing, and Logistics
• IE 661: Scheduling Theory
• IE 620: Agile Manufacturing
• IE 505: Production Planning and Control
• IE 504: Facilities Design
• IE 500: Special Topics: Logistics and Supply-Chain Management
• IE 327: Facilities Design
• IE 320: Engineering Economy
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Teaching Interests
IE 320: Engineering Economy
•Course Overview and Objectives
•Course Topics
•Staff
•Basic Requirements
•Required Work and Grading Policy
•References
•Lectures and Handouts
•Assignments and Projects
•Quizes and Solutions
•Tentative Lecture/Assignment Schedule
| Course Overview |
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Catalog Description
An introduction to concepts of economic decision
making including present worth analysis, cash flow equivalence, replacement
analysis, equipment selection. Three lecture periods per week. This course
is required of all Industrial Engineering students and is open to students
in any discipline.
Course Overview
This undergraduate level course is a comprehensive
coverage of concepts in engineering economics. It presents mathematical
techniques and practical advice for evaluating decisions in the design
and operation of engineering systems. These procedures support both selection
and justification of design alternatives, operating policies, and capital
expenditure. The topics covered include time value of money, financial evaluation
methods, depreciation and inflation, income taxes, project financing, replacement
analysis, notions on capital budgeting and sensitivity, and risk analysis.
At a more personal note, it will help you make financially prudent decisions
in your day-to-day life. It will help you in your EIT / PE examinations
in future.
Course Objectives
Students completing this course will be able to
understand:
• the concepts of interest and time value of money;
product/project costs and financial statements
• how to evaluate engineering projects with economic
decisions using present worth, annual worth and rate of return analyses
• the impact of depreciation and taxation on project
decisions
• how to make financially prudent decisions in everyday
life (car/home loans or investments).
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| Course Topics |
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Chapter |
| 1. |
Engineering Economic Decisions |
1 |
| 2. |
Understanding Financial Statements |
2 |
| 3. |
Cost Concepts and Behaviors |
3 |
| 4. |
Time Value of Money and Money Management |
4 & 5 |
| 5. |
Present and Annual Worth Analysis |
7 & 8 |
| 6. |
Rate of Return Analysis |
9 |
| 7. |
Depreciation |
10 |
| 8. |
Income Taxes |
11 |
| 9. |
Replacement Decisions |
15 |
| 10. |
Inflation |
13 |
| 11. |
Project Sensitivity and Risk Analysis |
12 & 14 |
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Staff
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Instructor:
Dr. Rakesh Nagi, Associate Professor
Department of Industrial Engineering
State University of New York at Buffalo
342 Bell Hall Box 602050
Buffalo, NY 14260-2050
U.S.A.
Telephone: (716) 645-2357
FAX: (716) 645-3302
E-mail: nagi@buffalo.edu
Office Hours: M 1-2:30 p.m., W 1-2 p.m. (and by appointment)
Teaching Assistant:
Mr. Xiaofeng Nie
Office: 333 Bell Hall
E-mail: xnie2@buffalo.edu
Office hrs.: Tu, Th 3:30 p.m. – 5:00 p.m.
(and by appointment)
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| Basic Requirements |
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- Algebra and Basic calculus
- Notions of financial matters - banks, interest
- General understanding of engineered objects
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| Required Work and Grading Policy |
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1. Homework - (bi-)weekly assignments
20%
2. Quizes/Class participation -
5%
3. Project (Group of 5) -
10%
Option 1: Group study of a real-life engineering case is to be performed
during the semester. A report will be due at the end of the semester defining
the problem, establishing the data collected, and the engineering economic
decisions made. Formal application of concept learnt must be demonstrated.
Consider that you are making your recommendations to a management team.
Option 2: Group programming projects that are similar to EzCash are
to be developed. End semester submission will include the software and
a report that details the system architecture, users and reference guides.
4. Exams - two midterms (20% each),
comprehensive final (25%) 65%
(+/- Grading scheme will be in effect)
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| References |
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Course Text and Software
[1] Park, Chan S., Contemporary Engineering Economics,
3rd Ed., Prentice Hall (2002).
[2] EzCash, Park, Chan S., Download from http://www.eng.auburn.edu/~park/cee/index.htm
[3] JavaScript codes on the web.
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| Lectures and Handouts |
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| Assignments and Projects |
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IE 320 Homework Assignments (see schedule page for due dates)
IE 320 Project Information
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| Quizes and Solutions |
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| Tentative Lecture/Assignment Schedule |
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