FACULTY OF ENGINEERING

Department of Genetics and Bioengineering

FE 414 | Course Introduction and Application Information

Course Name
Economics of Food Engineering
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
FE 414
Fall/Spring
3
0
3
5

Prerequisites
None
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator
Course Lecturer(s) -
Assistant(s) -
Course Objectives Learning basic concepts of economics such as demand, supply, market, household; performing elasticity calculations; cost analysis and studying different cost estimation methods; discussing concepts such as interest, capital and operation cost, depreciation, profitability; investigating the economic aspects of processes that are frequently used in food engineering
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain frequently used terms such as supply, demand, market, household.
  • Will be able to compare various cost analysis and cost estimation methods
  • Will be able to calculate simple and compound interest
  • Will be able to analyze processes that are frequently used in food engineering from an economic point of view
  • Will be able to perform depreciation calculations
  • Will be able to determine whether a process is profitable or not
  • Will be able to explain the concept of elasticity.
Course Description Fundamental concepts in economics, elasticity, cost analysis methods, interest calculations, depreciation calculations, profitability analysis, economic analysis of food engineering related processes

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction to Economics Fundamentals of Engineering Economics Chapter 1
2 Demand and Supply Fundamentals of Engineering Economics Chapter 2
3 Elasticity Fundamentals of Engineering Economics Chapter 2
4 Time Value of Money Fundamentals of Engineering Economics Chapter 2
5 Time Value of Money Fundamentals of Engineering Economics Chapter 2
6 Time Value of Money Fundamentals of Engineering Economics, Chapter 4
7 Breakeven Analysis Engineering Economy Chapter 13
8 Cost Analysis Engineering Economy Chapter 15
9 Midterm Exam
10 Cost Analysis Engineering Economy Chapter 15
11 Depreciation Calculations Engineering Economy Chapter 16
12 Cash Flow Calculations Fundamentals of Engineering Economics, Bölüm 13
13 Profitability Analysis Fundamentals of Engineering Economics, Bölüm 13
14 General Review
15 Preparation for the final exam
16 Preparation for the final exam

 

Course Notes/Textbooks

Engineering Economy , Leland Blank, Anthony Taquin, McGraw-Hill

Suggested Readings/Materials

Fundamentals of Engineering Economics, 3rd ed., Chan S. Park, Prentice Hall

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
20
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
40
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
2
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
2
32
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
2
10
20
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
20
20
Final Exam
1
30
30
    Total
150

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To have adequate knowledge in Mathematics, Science and Genetics and Bioengineering; to be able to use theoretical and applied information in these areas on complex engineering problems.

2

To be able to identify, define, formulate, and solve complex Genetics and Bioengineering problems; to be able to select and apply proper analysis and modeling methods for this purpose.

3

To be able to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the requirements; to be able to apply modern design methods for this purpose.

4

To be able to devise, select, and use modern techniques and tools needed for analysis and solution of complex problems in Genetics and Bioengineering applications; to be able to use information technologies effectively.

5

To be able to design and conduct experiments, gather data, analyze and interpret results for investigating complex engineering problems or Genetics and Bioengineering research topics.

6

To be able to work efficiently in Genetics and Bioengineering disciplinary and multi-disciplinary teams; to be able to work individually.

7

To be able to communicate effectively in Turkish, both orally and in writing; to be able to author and comprehend written reports, to be able to prepare design and implementation reports, to present effectively, to be able to give and receive clear and comprehensible instructions.

8

To have knowledge about global and social impact of Genetics and Bioengineering practices on health, environment, and safety; to have knowledge about contemporary issues as they pertain to engineering; to be aware of the legal ramifications of Genetics and Bioengineering solutions.

9

To be aware of ethical behavior, professional and ethical responsibility; to have knowledge about standards utilized in Genetics and Bioengineering applications.

10

To have knowledge about industrial practices such as project management, risk management, and change management; to have awareness of entrepreneurship and innovation; to have knowledge about sustainable development.

11

To be able to collect data in the area of Genetics and Bioengineering, and to be able to communicate with colleagues in a foreign language.

12

To be able to speak a second foreign language at a medium level of fluency efficiently.

13

To recognize the need for lifelong learning; to be able to access information, to be able to stay current with developments in science and technology; to be able to relate the knowledge accumulated throughout the human history to Genetics and Bioengineering.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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