WINONA STATE UNIVERSITY
PROPOSAL FOR NEW COURSES
Department: Engineering Date : February 15, 2006
Refer to Regulation 3-4, Policy for Changing the Curriculum, for complete information on submitting proposals for curricular changes.
_ENGR 401 Engineering Economics 1 Credit
Course No. Course Name Credits
This proposal is for a(n) __X__ Undergraduate Course ______Graduate Course
Applies to: ___X _ Major ______Minor ______University Studies*
_____ Required _____ Required ______Not for USP
_____ Elective _____ Elective
Prerequisites _MATH 160 (Calculus I)______
Grading method __X___ Grade only ______P/NC only ______Grade and P/NC Option
Frequency of offering _Once every year______
*For University Studies Program course approval, the form Proposal for University Studies Courses must also be completed and submitted according to the instructions on that form.
Provide the following information:
A. Course Description (Please see attached)
1. Catalog description.
2. Course outline of the major topics and subtopics (minimum of two-level outline).
3. Instructional methods utilized. Please indicate the contributions of lectures, laboratories, web-based materials, internships, and other instructional methods to this course.
4. Course requirements (papers, lab work, projects, etc.) and means of evaluation.
5. Course materials (textbook(s), articles, etc.).
6. List of references.
B. Rationale
1. Statement of the major focus and objectives of the course.
2. Specify how this new course contributes to the departmental curriculum.
3. Indicate any course(s) which may be dropped if this course is approved.
C. Impact of this Course on other Departments, Programs, Majors, or Minors
1. Does this course increase or decrease the total credits required by a major or minor of any other department? If so, which department(s)?
2. List the department(s), if any, which have been consulted about this proposal.
Attach a Financial and Staffing Data Sheet.
Attach an Approval Form with appropriate signatures.
Department Contact Person for this Proposal:
Beckry Abdel-Magid 457-5658
Name (please print) Phone e-mail address
A. Course Description
1. Catalog Description:
ENGR 401 – Engineering Economics – 1 S.H.
One-credit lecture course. Fundamentals of engineering economics and its relationship to the engineering design process. Topics include interest and time value of money; annual, discrete and continuous compounding; rate of return, payback period and investment alternatives. Pre-requisites: MATH 160. (Calculus I). Grade Only.
2. Course Outline of the Major Topics and Subtopics (minimum of two-level outline):
· Basic Concepts
Interest
Simple and compound interest
Time value of money
Inflation
Taxes
Cash Flows
· Annual Compounding
Single Payments
Uniform Series
Gradient Series
· Discrete and Periodic Compounding
Nominal and Effective Interest Rates
· Continuous Compounding
Discrete Payments
Continuous Payments
· Equivalence
Economic Equivalence
The cost of Capital
Stock and Bond Valuation
· Applications of Money-Time Relationships
Present Worth, Future Worth
Equivalent Series
Capital Recovery
Capitalized Equivalent
Net Present Value
Rate of Return
Payback Period
Benefit-Cost Ratio
· Choosing Among Investment Alternatives
Setting the MARR
Project Selection and Budget Allocation
The Reinvestment Fallacy
3. Instruction Methods:
Lecture
Problem-solving sessions
4. Course Requirements and Means of Evaluation:
Reading assignments
Homework
Quizzes
Final Exam
In addition to testing the students’ knowledge of the subject, the evaluation is based on students’ attainment of the program outcome of understanding the economic impact in engineering decisions and engineering design. Some questions in the HW, quizzes and exams are designed for such evaluation.
5. Course Materials:
Textbook: Engineering Economics, by Sepulveda, Souder, and Gottfried; Schaum’s Outlines, McGraw-Hill, 1984.
6. List of References:
Engineering Economy, Tenth Edition, by E.P. DeGarmo, W.G. Sullivan, J.A. Bontadelli, and E.M. Wicks; Prentice Hall, 1997.
Contemporary Engineering Economics, by C. Park, Addison Wesley, 1997.
B. Rationale
1. Major focus and objectives of the course:
· To learn the cost concepts and the principles of money-time relationships.
· To learn the applications of money–time relationships in engineering.
· To learn to develop and demonstrate methodology for the economic analysis and comparison of mutually exclusive alternatives.
· To learn how to use the benefit/cost ratio method as a criterion for project selection.
2. Specify how this new course contributes to the departmental curriculum
The course enables students in the CME program to achieve two program outcomes and one educational objective. The program outcomes are: To attain the theoretical knowledge and hands-on ability to confidently design components, systems, and processes to meet the needs of the composites industry within a set of realistic constraints including economic, environmental, social, political, ethical, health and safety, manufacturability, and sustainability; and to attain an understanding of the impact of their engineering decisions in a global, economic, environmental, and societal context. The educational objective is to prepare graduates who can successfully address engineering problems within a given global, economic, environmental, and societal context.
3. Indicate any courses which may be dropped if this course is approved
This course will replace two courses that will be dropped from the CME curriculum, namely, ENGR 282 Topics in Composite Materials Engineering M, and ENGR 392 Topics in Composite Materials Engineering C. The topics on engineering economics in these courses will be covered in this new course. The topics in composite materials in these two courses will be covered in other engineering courses.
C. Impact of this Course on other Departments, Programs, Majors, or Minors
This course has no impact on other departments, programs, majors or minors.
WINONA STATE UNIVERSITY
FINANCIAL AND STAFFING DATA SHEET
Course or Program: ENGR 410 Engineering Economics
Include a Financial and Staffing Data Sheet with any proposal for a new course, new program, or revised program.
Please answer the following questions completely. Provide supporting data.
1. Would this course or program be taught with existing staff or with new or additional staff? If this course would be taught by adjunct faculty, include a rationale.
Course will be taught by existing faculty.
2. What impact would approval of this course/program have on current course offerings? Please discuss number of sections of current offerings, dropping of courses, etc.
No impact.
3. What effect would approval of this course/program have on the department supplies? Include data to support expenditures for staffing, equipment, supplies, instructional resources, etc.
No Impact.
Approval/Disapproval Recommendations
Department Recommendation: Approved_____ Disapproved____ Date:______
Chairperson Signature______Date______
Dean's Recommendation: Approved_____ Disapproved ____* Date:______
Dean's Signature______Date______
*In the case of a Dean's recommendation to disapprove a proposal a written rationale for the recommendation to disapprove shall be provided to USS
USS Recommendation: Approved_____ Disapproved____ Date:______
University Studies Director's Signature______Date______
A2C2 Recommendation: Approved_____ Disapproved_____ Date:______
A2C2 Chairperson Signature______Date______
Faculty Senate Recommendation: Approved_____ Disapproved____ Date:______
FA President's Signature______Date______
Academic Vice President's Recommendation: Approved_____ Disapproved____ Date:______
VP's Signature______Date______
President's Decision: Approved_____ Disapproved____ Date:______
President's Signature______Date______