Economic Analysis for Engineers

This subject is not offered in 2014.

200 hours

Admission into one of the following courses -
MC-ENG Master of Engineering (Chemical with Business)
MC-ENG Master of Engineering (Civil with Business)
MC-ENG Master of Engineering (Mechanical with Business)
MC-ENG Master of Engineering (Electrical with Business)
MC-ENG Master of Engineering (Software with Business)
MC-ENG Master of Engineering (Mechanical)

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject seeks to -

• Build a thorough understanding of the theoretical and conceptual basis upon which the practice of financial project analysis is built and its application to engineering
• Satisfy the practical needs of the engineering manager toward making informed financial decisions when involved in an engineering project
• Incorporate critical decision-making tools that engineering managers can bring to the task of making informed financial decisions

INTENDED LEARNING OUTCOMES (ILOs)

On completion of this subject, students are expected to be able to -

• Describe the behaviour of markets
• Calculate and interpret elasticities
• Estimate the cost of production and services
• Optimally allocate scarce capital resources to projects
• Estimate the financial health of organisations
• Produce financial budgets

A 700 word assignment every two weeks, in total five assignments (50%). Associated with ILOs 1 to 6 (each assignment will have a focus on one of the ILOs).
One two hour end of semester examination (50%). Associated with ILOs 1 to 6.

This subject is not available as a breadth subject.