Study program:
Environmental Engineering (VII semester -BsC)
Mining Engineering (V semester -BsC)
Petroleum Engineering (VIII semester -BsC) |
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Name of subject: Engineering Economics |
Instructors:
Prof. Čedomir Beljić, Katarina Urošević |
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Status: Compulsory |
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ECTS: 5 |
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Prerequisites: Second year of basic academic studies completed |
Course Objectives:
Introduction to students with basic aspects of modern mining economy. Providing basic information on: the economics of mineral raw materials, and the economics of mining companies. Studying the connection with the link between engineering (technical and technological) activities and economics. |
Learning Outcomes:
Mining engineer- educated and familiar with the basics of microeconomics as a science and practically applied in mining. |
Content:
Theory teaching
Introduction, economics in general. Macroeconomics, basic information. Microeconomics, basic information. Economics and technology. Theoretical, empirical and strategic aspects of the economics of technical and technological systems. The concept, types and functions of the company. Means of mining enterprises. Costs of mining companies. Cost and price calculations.The profit of the mining company. Depreciation. Royalty.Principles of productivity, economy and profitability as indicators of the efficiency of mining production. Time concept of treating the value of money, a discounted cash flow. Sensitivity and risk analysis on examples from mining. Application of microeconomic theories in the work of mining companies.Mining studies. Practical teaching
Exercises, creation of an essay. |
Suggested Reading List:
- Janković S. i Milovanović D., Ekononmska geologija i osnovi ekonomike mineralnih sirovina, RGF Beograd, 1985.
- Milutinović,V.,Rudnička ekonoija, RGFBeograd,1972.
- Dovd P.A., Mine Finance and Valuation, University of Leeds 1994.
- F.W.Wellmer;M.Dalheimer;M.Wagner;Economic evaluation in Exploration, 2nd edition;Springer 2008.
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Conduct of the Course:
Lectures, interactive lecturer-student relationship. Multi-media presentations. |
Fund hours:
| Lectures |
Exercises |
Other forms of teaching |
Study research |
| 2 |
2 |
0 |
0 |
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Assessment:
| Final Exam |
ECTS |
| Oral Exam | 15 | | Written exam | 15 |
| Classwork Assessment |
ECTS |
| Class Participationа | 10 | | Written tests | 30 | | Seminars | 30 |
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Additional Assessment Criteria: - |
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