Engineering Economics P - Z

.  "Knowledge and  understanding". The course introduces the  knowledge of the  principles of economic rationality and  provides the  basic  methods for business decisions in the  field of cost analysis, market analysis, and  economic analysis of engineering design. Finally, the  student is introduced to the  main  macroeconomic aggregates and  basic  models for the  analysis of economic systems.

2.  “Applying knowledge and  understanding”. Upon completion of the  course, students must be able,  for each economic decision, to identify  the  cost  items and  the  expected benefits. They must also be able  to identify  the  variables of the  macroeconomic context that are  relevant to business decisions. Finally, they  will have to be able  to apply  the  main  criteria for evaluating the  economic value  of a project.

3.  "Making  judgments". Based on the  basic  principles learned, the  student will be able  to autonomously investigate further aspects relating to business and  engineering decisions in the economic-financial field.

4.  "Communication skills". At the  end  of the  course, the  student must be able  to communicate the reasons underlying the  analysis of costs, of the  market, and  of engineering projects using specialized language.

5.  “Learning skills”. The principles of economics provided at the  beginning of the  course will be a basis  for conveying further contents in the  microeconomic, macroeconomic and  engineering project fields.  They can  be used by the  learner to refine and  deepen their  skill set  through independent learning and  knowledge acquisition.

The course is organised as a mix of theoretical lectures (concerning the  principles of Microeconomics, Macroeconomics, and  the  foundations of project appraisal) and  tutorials during  which exercises on the course topics  will be discussed.

N.B. Should  teaching be carried out in mixed  mode or remotely, it may  be necessary to introduce changes with respect to previous statements, in line with the  programme planned and  outlined in the syllabus. Learning assessment may  also be carried out on line, should  the  conditions require it.

Economics of the firm and of markets

How economists think. The logic of costs and benefits. The market. Individual and aggregate demand. Theory of production: the production function and short and long run costs. Market structures: perfect competition, monopoly, imperfect competition. Strategic interaction in oligopolistic markets.

Contemporary economics.

Macroeconomic variables: GDP, price level and inflation, employment and unemployment, balance of payments, public budget, money, financial markets and interest rates. The determination of the national income in the short run. The economic cycle. The AD-AS model. Economic Policy. Principles of open economies.

Project Analysis
Formulating investment alternatives. Project costs. Some representative short-term decisions (make-or-buy, choice of materials). Principles of financial mathematics. Decision Criteria: NPV, IRR, payback, other criteria. Choosing among alternative projects. Capital depreciation. Taxation. Economic evaluation of public sector projects.

O’SULLIVAN A., SHEFFRIN S.M., PEREZ S.J., BIANCHI C. (2015). Elementi di Economia, Pearson.

SULLIVAN W.G., WICKS, E.M., LUXHOJ (2006). Economia applicata all’ingegneria. Pearson Prentice-Hall.

A similar test is available at: https://docs.google.com/forms/d/1g6fw5VAdVlTCOmDpkT9UjsroJOaFV06Pnq9IkeERN5M/edit

Micro and macro economy, VAN, TRI.
Currently questions are shared through exams.net platform. It means that a laptop or a mobile device is required.

the list is just an example:

What's the difference between real GDP and nominal GDP?

Which stakeholder has more power in a monopoly?