ECONOMICS APPLIED TO ENGINEERING A - L

Topics

References to the texts

1. PRINCIPLES OF ECONOMY

Economic science and the economy *.

Text 1: chapters 1

(Lesson notes)

2. MICROECONOMICS*

Demand, supply and operation of the market. The utility-based theory of demand; the theory of consumer behavior and indifference curves; demand elasticity.

Text 1: chapters 2, 3, and 4

(Lesson notes)

3. MICROECONOMICS *

The theory of production: the production function. Production costs. Functions of short and long-term costs. Returns to scale

Text 1: chapter 5 and 6

(Lesson notes)

4. MICROECONOMICS *

Market structure and business behavior (maximization of economic profit): fundamental characteristics and short and long-term balance in the following market forms: perfect competition, monopoly, oligopoly and monopoly competition.

Text 1: chapters 7,8 and 9

(Lesson notes)

5. INTRODUCTION TO ECONOMIC WELFARE *

Fairness and efficiency. Perfect competition and Paretian efficiency. The general economic equilibrium theory and the Edgeworth box. Externalities, the environmental economy.

Text 1: cap. 10

(Lesson notes)

6. MACROECONOMICS*

Macroeconomic variables. Monetary variables. Economic policy. Fiscal policy. Monetary policy.

Text 1: chapter 11

(Lesson notes)

hours: approximately 20 hours

Expected learning outcomes: understanding of micro- and macroeconomic issues.

The knowledge acquired will be useful in providing students and future professionals with the basic tools to interpret: the dynamics of economic growth and employment in order to gain awareness of issues relating to sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, in accordance with Goal 8 of the 2030 Agenda; needs, assets, economic resources, economic activities and markets in order to gain awareness of issues relating to inclusive, safe, sustainable and resilient cities and human settlements, in accordance with Goal 11 of the 2030 Agenda; consumption, production and the externalities of consumption and production in order to raise awareness of sustainable patterns of consumption and production, in accordance with Goal 12 of the 2030 Agenda.

7. THE COMPANY AND THE DECISION AND MANAGEMENT CONTROL PROCESSES: GENERAL ACCOUNTING, FINANCIAL STATEMENTS AND STRATEGIC PLANNING

Company, business and entrepreneur. Legal forms of the company.

Business informative system. Management and detection of administrative facts *.

The capital of the company under the qualitative and quantitative aspect *.

The Annual financial statements: the balance sheet and the income statement*.

Principles of preparation of the statutory financial statements.

Business analysis by indices, margins and flows *.

The strategic planning process *.

Text 1: chapters  12, 13, 14, 15, 16, 17, 18, 19 and 20

(Teaching materials)

hours: approximately 18 hours

Expected learning outcomes: understanding of the structure of the company, its decision-making processes and management control.

The knowledge acquired will be useful in providing students and future professionals with the basic tools to interpret accounting, financial statements and the business context, enabling them to gain awareness of resilient infrastructure and promote innovation and fair, responsible and sustainable industrialisation, in accordance with Goal 9 of the 2030 Agenda.

8. ECONOMIC AND FINANCIAL ASSESSMENT OF INVESTMENT PROJECTS *

Elements of financial mathematics. Financial analysis.

Main methods of investment selection: Net Present Value (NPV); the Internal Rate of Return (TIR); comparative analysis between the VAN method and the TIR method; Average recovery period (PBP); Accounting rate of return (TRC) and Discounted cash flow. Cost-benefit analysis and cost-income analysis principles.

Testo 1: chapters 21 and 22

(Teaching materials)

hours: approximately 10 (1) + 6(2) hours

Expected learning outcomes: knowledge of financial mathematics aimed at supporting the economic and financial evaluation of investment projects and investment evaluation criteria.

The knowledge acquired will equip students and future professionals with the basic tools for evaluating investments to promote access for all to affordable, reliable, sustainable and modern energy systems, as well as innovation and fair, responsible and sustainable industrialisation, in accordance with Goals 8 and 9 of the 2030 Agenda.