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Department of Chemical Engineering

Gadjah Mada University


COURSE INFORMATION
Academic Year
Semester

:
:

2012/2013
1

Engineering Economic

Subject
Prerequisites

Instructor

Code: TKK 215


(semester credit unit: 2)
This course is a prerequisite for the plan design course (with minimum grade of
D), entrepreneurship and management courses (minimum grade is
unnecessary).
by topic:
Prof. Ir. Panut Mulyono, M.Eng., D.Eng.
Office
Phone
Email

Teaching Assistant
Class Schedule

:
:

:
:
:

AnIns Lab., Chem. Eng. Bldg.


+62-274-6492171
pmulyono@chemeng.ugm.ac.id

Thursday 07.00 - 08.50

Room: S-101
Student Learning Time (SLT)

Lecture

Assignments; HW, etc.

16 class periods for the semester, 2 class


periods per week, 50 minutes per class period
2 50 minutes

Independent Learning

2 50 minutes

Textbooks

Recommended References

Computer Usage

Newnan, D.G., 1990, Engineering Economic Analysis, 3rd ed., Binarupa


Aksara Engineering Press, Inc., Jakarta.
Sullivan, W.G., Wicks, E.M., and Koelling, C.P., 2012, Engineering
Economy, 15th ed., Pearson Education Limited, Edinburgh Gate, Harlow.
Aries, R.S. and Newton, R.D., 1955, Chemical Engineering Cost
Estimation, McGraw-Hill Book Company, New York.
1. Garrett, D.E., 1989, Chemical Engineering Economics, Van Nostrand
Reinhold, New York.
2. Peters, M.S. and Timmerhaus, K.D., 1991, Plant Design and Economics
for Chemical Engineers, Fourt Edition, McGraw-Hill, Inc., New York.
3. Schweyer, H.E., 1955, Process Engineering Economics, McGraw-Hill
Book Company, Inc., New York.
Microsoft excel is required

Laboratory Work

None

Learning Outcomes

Transferable skills

At the end of this course, the students should be able to:


1.
understand the principle of economical calculation
2.
evaluate profitability and feasibility of an investment plan based on the
time value of money
3.
select the most prospective investment plans
Critical thinking, conceptual understanding, economical calculation,
uncertainties factors in economical calculation.

Course Description

This course is offered in semester 3 of the 8 semesters curriculum of the


Chemical Engineering Department. The topics studied in this course are cash
flow analysis, time value of money, investment plans analysis, economical
analysis by consideration of a risk, fixed and working capitals, expenses,
depreciation, product sales, profitability analysis and profitability parameters
such as ROI, Payback period/pay-out time, IRR/DCFRR, BEP, SDP, etc. This
course is a prerequisite for the plan design course (with minimum grade of D),
entrepreneurship and management courses (minimum grade is unnecessary).

Course Policy

Grading Criteria

Assignment , test, quiz

Minimum attendance is 75%.


A student may request to turn in an assignment late in the case of an
illness or unavoidable situation. Students should get prior approval from
the instructor to reschedule the assignment if there is a professional
schedule conflict.
:

20%

Mid - exam
: 35% (Closed note and book)
Final - exam
: 45% (Closed note and book)
Note:
To obtain the highest grade (A), all the assignments should be attempted
and submitted on time. In general, exams cannot be made up and no late
assignment sets will be accepted.
Homework problems will be the basis for class discussion, and solutions
will be given in class. Some of the home works will be collected and
evaluated by a grader.

Course Outline
Week

Topic Covered

Introduction
a. Course outline, learning outcome, course contract
b. Principles of engineering economic
c.
Engineering economic application in Chemical Engineering fields

II

Cash Flow
a. Cash flow definition
b. Cash income
c.
Cash cost
d. Cash flow development in the form in the form of table and figure

III

Time Value of Money


a. Simple interest: ordinary and exact
b. Compound interest: nominal and effective

IV

Time Value of Money (continued)


a. Uniform series payment
b. Uniform series compound amount factor, uniform series sinking fund factor
c.
Capital recovery
d. Present value uniform series

Time Value of Money (continued)


a. Arithmetic gradient

b.

Geometric gradient

VI

Investment Plan Analysis


a. Present value analysis
b. Annual value analysis

VII

Economical Analysis with Risk Consideration


Uncertainty factors and risk

VIII

Mid Test 1 (scheduled formally)

IX

Mid Test 1 (scheduled formally)

Economical Analysis with Risk Consideration (continued)


Problem solving process in economical analysis with risk consideration

XI

Capital
a. Fixed capital
b. Working capital

XII

Expense
a. Expenses in plant operation
b. Manufacturing cost
c.
General expense

XIII

Depreciation and Profit Analysis


a. Depreciation
b. Sales
c.
Profit

XIV

Profitability Parameters
a. Percent profit on sales
b. ROI
c.
Venture profitability
d. Pay-out time

XV

Profitability Parameters (continued)


a. IRR/DCFRR
b. BEP
c.
SDP

XVI

Case Study
a. Case study
b. Discussion

Relationship of Course Learning Outcomes to Program Outcomes:


Course Learning Outcomes (CO)

1.
2.

3.

Program Outcomes

Understanding the principle of


economical calculation.
Evaluation of the profitability and
feasibility of an investment plans
based on the time value of
money.
Selection of the most prospective
investment plans.

PO01

PO02

PO03

PO04

PO05

PO06

PO07

PO08

PO09

PO010

PO011

PO012

PO013

PO014

PO015

Learning Strategies
Method of
Assessment
Delivery
Method of
Student
Performance
Lecture, class
discussion
Lecture, class
discussion,
problem
solving

Assignment,
quiz, exam
Assignment,
quiz, exam

Lecture, class
discussion,
problem
solving

Assignment,
quiz, exam

Note:
= CO slightly addresses PO; = CO moderately addresses PO; = CO significantly addresses PO

*) Program outcomes key words:


1=fundamental concept, 2=innovation, 3=design and work safety, 4=material behavior, 5=equipment principles, 6=calculation, 7=economy evaluation, 8=research, 9=environment, 10=ethic,
11=life-long learning, 12=communication and team work, 13=flexibility, 14=excellent personality, 15=contemporary

Date of Preparation
Prepared by

:
:

August 31, 2012


Prof. Ir. Panut Mulyono, M.Eng., D.Eng.