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APSC 221 Economic and Business Practice Units: 3.00
This course will provide students in the Engineering program with the ability to appropriately incorporate selected economic and business practices into the practice of engineering. The topics covered include introductions to: cost concepts, cost estimation, time value of money, cash flow analysis, the effects of taxes and inflation on project economics, replacement analysis, risk and change management, and financial strength and viability of a new business venture. Assignments and examples are based on situations from engineering-based industries. This is an online course but requires students to write in-person examinations (mid-terms and final) at Queen's University during the Fall and Winter Terms (during the Summer Term, all examinations are completed online).
K3 (Lec: Yes, Lab: No, Tut: No)
K3 (Lec: Yes, Lab: No, Tut: No)
Requirements: Prerequisites:
Corequisites:
Exclusions: APSC 321, COMM 244
Offering Term: FWS
CEAB Units:
Mathematics 0
Natural Sciences 0
Complementary Studies 36
Engineering Science 0
Engineering Design 0
Offering Faculty: Smith Engineering
Course Learning Outcomes:
- Recognise different cost concepts and apply them using a variety of cost estimation techniques.
- Solve cash flow analysis problems utilizing the time value of money.
- Determine the effect of taxes and inflation on project viability.
- Apply replacement analysis concepts to determine minimum equivalent annual costs.
- Examine risk and change management approaches for project management.
- Assess the financial strength and viability of a new venture.
- Write a basic business plan.