Welcome to Spring 2019

Department of Electrical Engineering

 Engineering Economics & Management (Theory)
Course Code: HSS-411
Credit Hours: 3
Pre requisite: None
Objectives: This course is designed to increase the understanding of
the students about economics, the economic effects of
decisions and methods for comparing engineering
alternatives using economic criteria. Students will learn
various managerial skills and how the knowledge of project
management can be applied to manage projects
professionally.
OBE Frame Work

BEE Programme
 Background
 For OBE system implementation of BEE Program, the
University Vision, Program Mission, Program Educational
Objectives (PEOs), Program Learning Outcomes (PLOs), Course
Learning Outcomes (CLOs) should be mapped.
University
Vision
Program
Mission
Program
Educational
Objectives
Program
Learning
Outcome
Course
Learning 4
Outcome
University Vision
To remain committed to the attainment of highest standards
in teaching, learning and research, at par with the
international standards.
Departmental Vision
Commitment to prepare students for professional and
research activities with an ability to learn independently,
within a diverse multi-cultural environment, and enabling
them to become the global leaders in their respective fields.
BEE Program Mission
The mission of BEE program is to produce ethically sound and
technically competent engineers who can serve in the diverse
fields of research, design & development, teaching, system
installation, support and maintenance.
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 BEE Program Educational Objectives
PEO 1: Professional Employment 
Find employment related to Electrical engineering in the fields of design,
development, research, operations and maintenance, technical sales and marketing as
well as explore entrepreneurship and find jobs in diverse areas like business, law,
NGOs, media etc.
PEO 2:Technical competence 
Demonstrate technical competence in the field of electrical engineering through
finding solutions to complex problems, design new products, and use their analytic,
engineering and problem solving skills to provide value to their industry.
PEO 3:Professional growth 
Pursue their professional growth by taking up higher studies for advanced degrees,
learn new technologies as they emerge, develop skills in the usage of new tools,
undertake professional development courses and keep themselves current in their
chosen specialization.
PEO 4:Social Engagement 
Work in multicultural teams, provide leadership in their area; be sensitive to ethical,
moral, environmental, gender and societal issues and leave an impact of their work on
the society and the community.
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PLOs (Attributes)

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 Design Structure of OBE

 Inclusion of Complex Engineering Problems

 Open Ended Labs
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 OBE Learning Domains – Bloom’s Taxonomy
Cognitive Level
Knowledge – C1
Comprehension –C2  Involving intellectual
Application –C3 activities
Analysis –C4  What the learner knows
Synthesis–C5 Cognitive
Evaluation– C6
Psychomotor Level
Perception – P1  Response involving motor and
Set –P2 LEARNING psychological components
Guided Response –P3 DOMAINS
 What learner able to perform
Mechanism –P4
Complex Overt Response –P5
Adaptation – P6
Orgination – P7 Affective Psychomotor
Affective Level
Receiving – A1  the manner in which we deal
Responding –A2 with things emotionally, such as
Valuing –A3 feelings, values, appreciation,
Organization–A4 enthusiasms, motivations, and 10
Characterization –A5 attitudes
Cognitive Domain

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Cognitive Domain

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Psychomotor Domain

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Psychomotor Domain

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Affective Domain

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 EE&M CLOs
Course Learning Outcomes (CLOs): CLO 1: (A3): Describe the fundamental concepts of Engineering
Economics and management to Justify the use of these concepts
when considering economic efficiency.
 
CLO 2: (C4): Understand the concept of supply and demand in the
market, properties of its curves and the concepts of price ceiling and
price flooring. Analyze problems using the appropriate engineering
economics analysis method(s) i.e. time value of money, rate of
return, break-even analysis, benefit-cost ratio.
 
CLO 3: (C3): Acquire knowledge related to basics of project
management, project planning, project life cycle and its phases, risk
management, scope management, communication management
and apply this knowledge to manage project professionally.

 
 
 

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 EE&M PLO Mapping
Mapping of CLO to PLOs

CLOs MAPPED LEVEL CONTRIBUTION

PLO

CLO1: (A3): Describe the fundamental concepts of PLO 6 A3 2

Engineering Economics and management to Justify the use
of these concepts when considering economic efficiency.

CLO2: (C4): Understand the concept of supply and demand PL0 2 C4 3

in the market, properties of its curves and the concepts of
price ceiling and price flooring. Analyze problems using the
appropriate engineering economics analysis method(s) i.e.
time value of money, rate of return, break-even analysis,
benefit-cost ratio.

CLO3: (C3): Acquire knowledge related to basics of project PLO 11 C3 3

management, project planning, project life cycle and its
phases, risk management, scope management,
communication management and apply this knowledge to
manage project professionally.

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 EE&M Grading Scheme

Grading Rubric

Assessment Method CLO 1 CLO 2 CLO 3

Final Exam 10 20 20
Midterm Exam 10 x 10
Assignments 10 7 3
Quizzes 2 5 3
Total (100) 32 32 36

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Course Outline:  Introduction to Engineering Economics and
Management
 Economic Environment
 Demand and Supply
 Engineering Economic decisions
 Time Value of Money
 Cost Concepts relevant to decision making
 Rate of return analysis
 Introduction to Project Management
 Project Lifecycle
 Project Stakeholder Management
 Project Scope Management
 Project Communication Management
 Project Risk Management
 Project Procurement Management

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Resources: Text Books:
 Engineering Economy by Leland T. Blank and
Anthony Tarquin
 Contemporary Engineering Economics by Chan S.
Park, 6th edition, Pearson 2015, ISBN: 978-
0134105598
 Project Management: A System Approach to
Planning Scheduling and Controlling by Harold
Kerzner, 11th edition, John Willey 2013, ISBN: 978-1-
118-02227-6

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 Engineering Economics & Management
(Theory)
HSS-411

This course is designed to increase the understanding of the students about economics,
the economic effects of decisions and methods for comparing engineering alternatives
using economic criteria. You will learn various managerial skills and how the knowledge
of project management can be applied to manage projects professionally.
 Introduction to Economics
• Flow in an economy,
• Law of supply and demand,
• Concept of Engineering Economics –
– Engineering efficiency,
– Economic efficiency,
• Scope of engineering Economics –
– Element of costs,
– Marginal cost,
– Marginal Revenue,
– Sunk cost,
– Opportunity cost,
– Break-even analysis,
• Elementary Economic Analysis –
– – Material selection for product Design selection for a product, Process planning.
 Define Engineering Economics.
• Engineering economics defined as how limited
resources used to satisfy unlimited human wants
• In other words, it can be defined as a set of principles,
concepts, techniques and methods by which
alternatives with in a project can be compared and
evaluated for the best monetary return.
• Engineering economics deals with the methods that
enable one to take economic decisions towards
minimizing costs and/or maximizing benefits to
business organizations.