421-358 Technoeconomic Decision Making

Students enrolled in the Bachelor of Engineering (Management) are required to enrol into 421-358. Students enrolled in the Bachelor of Engineering (Civil or Environmental) are required to enrol into 421-355. Students may only gain credit for one of 421-358 or 421-355 Management for Engineers 1

On completion of this subject students should have an appreciation of the legal, economic and financial framework within which engineers must practise and the effect these factors play in planning an engineering project.

Engineering decision making within the framework of macro and microeconomics, supply and demand, budgetary and monetary policy.

Financial evaluation and analysis, and accounting principles, ledgers, profit and loss statements, balance sheets applied to engineering systems. Financial evaluation of Research and Development and technological innovation.

Introduction to law, contact, tort, project delivery systems and engineering contracts, liability and intellectual property corporations law, environmental law. An introduction to systems management, systems analysis, mathematical and linear programming.

At the end of this subject a student should have an:

• ability to apply knowledge of basis science and engineering fundamentals

• ability to communicate effectively, not only with engineers but also with the community at large

• ability to undertake problem identification, formulation and solution

• ability to utilise a systems approach to design and operational performance

• understanding of professional and ethical responsibilities and commitment to them.

One three-hour written examination (70%) and assignments totalling not more than 5000 words, or equivalent (30%).