FACULTY OF ENGINEERING

Department of Food Engineering

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
X
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 Being able to transfer knowledge and skills acquired in mathematics and science into engineering, X
2 Being able to identify and solve problem areas related to Food Engineering, X
3 Being able to design projects and production systems related to Food Engineering, gather data, analyze them and utilize their outcomes in practice, X
4

Having the necessary skills to develop and use novel technologies and equipment in the field of food engineering,

X
5

Being able to take part actively in team work, express his/her ideas freely, make efficient decisions as well as working individually,

X
6

Being able to follow universal developments and innovations, improve himself/herself continuously and have an awareness to enhance the quality,

X
7

Having professional and ethical awareness,

X
8 Being aware of universal issues such as environment, health, occupational safety in solving problems related to Food Engineering, X
9

Being able to apply entrepreneurship, innovativeness and sustainability in the profession,

X
10

Being able to use software programs in Food Engineering and have the necessary knowledge and skills to use information and communication technologies that may be encountered in practice (European Computer Driving License, Advanced Level),

X
11

Being able to gather information about food engineering and communicate with colleagues using a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

Being able to speak a second foreign language at intermediate level.

13

Being able to relate the knowledge accumulated during the history of humanity to the field of expertise

X

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

 


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