Erasmus +

Engineering economics

Engineering economics
Department or Chair within the Faculty: Department for Organization, Technology and Management
Study program: Undergraduate (bachelor) university study programme
Study level: 1st cycle
Course title: Engineering economics
Course code: 5.01-101
Language of instruction: English
Course description:
The course addresses economic and business issues, generally and with focus on the construction industry. It starts with an introduction into a relevant regulatory framework. After that, it provides an insight into fundamental professional terms regarding economy, supply, and demand at the market as well as expenses and income coming out from business performance and forming business result of a company. Costs are being especially carefully analysed in relation to capacity and source of their origin. Finally, financial reports being balance sheet and profit and loss account are being critically examined, as well as the main macroeconomic indicators.
Upon completion of the course, students will be able to:
  • Use the acquired knowledge regarding the various legal options for registration of companies and trades
  • Understand the means of work and objects of work
  • Distinguish between the basic categories of business performance: income, expenses, and operating result
  • Understand the capacity, breakeven point, economies of scale and the difference between fixed and variable costs
  • Analyse direct and indirect costs
  • Calculate the allocation key and apply it to the distribution of indirect costs
  • Calculate the cost price
  • Calculate the bid price
  • Analyse financial performance of a company
  • Understand the performance on a macroeconomic level
Form of teaching: Lectures, practical exercises, individual seminar
Form of assessment: Essay, on-line quiz and oral exam
Number of ECTS: 4
Class hours per week: 2 (lectures) + 2 (practical work)
Minimum number of students:

The teaching method for incoming Erasmus mobility students will vary depending on the number of students enrolled in each course. The academic department responsible for the course will communicate the details of the teaching method to the students before the beginning of the academic term. Incoming students are encouraged to review the course description carefully to understand the teaching method and requirements.

 

For the ex-cathedra teaching method, a minimum of 10 students is required to ensure the course is educationally sustainable. In addition, each student must possess at least a B1 level of English proficiency according to the Common European Framework of Reference for Languages (CEFR). In the event that the minimum number of students is not met, the course will be organised using more individualised teaching methods in consultation with the professor. These methods may include project-based, case-based, individualised learning plans, one-on-one tutoring, flipped classroom, and hybrid approaches. There is no requirement regarding English proficiency for the individualised approach teaching methods.
Recommended prerequisites:
 None
Period of realization: Summer semester
Lecturer: Ivana Šandrk Nukić

 

 

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