F19 IE 343 Syllabus V3 PDF

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IE 343 – Engineering Economics, Fall 2019 Tuesdays and Thursdays, 4:30 – 5:45 pm, WALC 1018 Instructor: Prof. Hua Cai Email: [email protected] Office: Grissom 390 Office Hours: Tuesday: 3:30pm- 4:30pm* (If you cannot make it to the office hours, email me for an appointment) *Note: no office hours on 10/8, 10/22, and 11/26 due to university/national holidays or instructor out of town. Office hours on 10/1 is rescheduled to Monday (9/30) at 11am-12pm. Teaching Assistants: Fang Chen, Ph.D. student in Industrial Engineering Email: [email protected] Office Hours (in GRIS 157E): Wednesday: 9:00am - 10:00 am* (in GRIS 157E): Friday : 12:30 pm - 1:30 pm* *Note: First office hour session is held on 8/23. No office hours on 11/27 and 11/29 due to university/national holidays. Jingya Wang, Ph.D. student in Industrial Engineering Email: [email protected] Office Hours (in GRIS 157E): Monday : 2:00 pm - 3:00 pm* (in GRIS 157D): Thursday: 2:30 pm - 3:30 pm* *Note: First office hour session is held on 8/22. No office hours on 9/2, 10/7, and 11/28 due to university/national holidays. Textbook: Sullivan, W.G., Elin Wicks, and Patrick Koelling (2014). Engineering Economy (16th edition). Pearson Education, Inc. ISBN: 0133439275. The readings associated with each session is listed in the course schedule. Website: Blackboard Learn (mycourses.purdue.edu). All applicable course material and any course announcements will be found on the course website. Check Blackboard regularly for updates! iClicker: We will use iClicker for in class quizzes. Please register your iClicker in the Blackboard. Learning Outcomes: After taking this course, you should be able to: 1. Evaluate the worth of a cash flow series using the concept of time value of money; 2. Compare the feasible alternatives for a project and select the best option from the economics perspective; Page 1 of 4

3. Analyze the impact of taxes and foreign exchange rates in project evaluation; 4. Apply the principles of engineering economy to analyze projects; and 5. Summarize the results and recommendations from the engineering economics analysis in the form of a report. Evaluation: • Pre-session Assignments: Before coming to each session (except for the first class), you are required to watch the pre - session videos and complete the pre- session quiz. It is important that you come to class prepared! • In-class Participation: In-class participation includes three parts. (1) Questions will be asked during the class that you can answer using iClicker. For participation questions, you will gain the full mark of the session if you answer more than 75% of the questions asked during the session. (2) Random quizzes will be given as well. The quizzes will be graded. (3) Group submissions of in-class problem solution sheet or white board pohos. Some classes including solving a problem as a group. The group solution needs to be submitted to the Blackboard at the end of the session for gaining points. After the grades of each in-class participation being posted, you have 24 hours to report any discrepancies. •

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Homework: Individual homework help you practice the contents you learned from each session. Homework is due weekly and there are a total of 11 homework assignments. The homework is auto-graded on Blackboard and you have unlimited attempts for submission (this allows you to learn from your mistakes and master the knowledge through practice). Case Study: Group case study help you put together the different pieces of knowledge you learned throughout the course to evaluate a more complex real-world problem. A case study report and group presentation is required, presenting the analysis, results, and recommendations. Exams: This course has three mid-term exams and no final exam. The exams are not cumulative but the content itself is (e.g., Exam 2 will not specifically test you about contents covered in Exam 1. But to solve problems in Exam 2, you will need to use the knowledge you have learned in the material covered by Exam 1). One double-sided A-4 size crib sheet is allowed in each exam.

Grade Breakdown: •

Pre-session Quiz – 10% (You can retake the pre-session quiz for an unlimited number of times during its open time. The highest grade will be used. The pre-session quiz closes half an hour before the session’s start time, at 4pm.)

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In-class Participation – 10% (3% participation points, 3% random quiz points, 4% group problem sheet submission) Homework – 20% (You can attempt the homework questions for an unlimited number of times before its due. The highest grade will be used.) Case Study – 20% (5% for the presentation and 10% for the report)

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Exam 1 - 10% (on Thursday 9/19 at 8-9pm in WALC 1055) Exam 2 - 15% (on Wednesday 10/30 at 8-9pm in WALC 1055) Exam 3 - 15% (on Wednesday 11/20 at 8-9pm in WALC 1055) Extra Credit – 5% (Earn up to 5% extra credits by serving as a Peer Tutor and attending the IE Barash Lecture. You can contribute as a Peer Tutor in two ways: A) answer peer questions posted on the Blackboard Discussion Board; and B) create short video clips explaining course contents. The IE Barash Lecture will be held on Oct 31. More details on Session 1 Slides.

Grading Scale*: >=98 A+ 94- 98 A 90- 94 A88- 90 B+ 84- 88 B

80- 84 78- 80 74- 78 70- 74 68- 70

BC+ C CD+

64- 68 D 60- 64 D...