Postgraduate courses
ECONOMIC DECISIONS IN MANUFACTURING MANAGEMENT
Subject Code: MFET5011
Aim
To provide students with a knowledge of manufacturing systems and manufacturing competitiveness through strategic planning.
On completion of this subject, the student should be able to:
- understand the different levels of manufacturing activities.
- assess the strengths and weaknesses of different manufacturing systems and philosophies.
- introduce improved procedures into existing manufacturing activities.
- develop a strategic framework for manufacturing competitiveness.
By undertaking this subject, students will progress in the development of the following qualities:
|
Graduate Quality |
Body of knowledge |
Life-long learning |
Effective problem solvers |
Work alone and in teams |
Ethical Action |
Communicate effectively |
International perspective |
|
Indicative Point weighting |
2.0 |
0.6 |
0.5 |
0.4 |
0.2 |
0.5 |
0.3 |
Syllabus
Financial statement analysis, budgeting and analysis of performance, analysing fixed and variable cost, allocation of indirect costs, analysis of product costs. Investment appraisal, net present value, internal rate of return, depreciation and taxation, multi-attribute analysis. Measures of investment worth under risk, utility theory, risk analysis, decision tree analysis.
Teaching and Learning Arrangements
This subject will be delivered using the following means:
Lectures: to introduce basic concepts
Tutorials: to allow opportunity to develop and understand concepts and techniques
Case studies: to apply concepts and techniques
Internet support.
Assessment
Assignments and project 50%
Examination 1 x 3hrs 50%
Textbook
H.E. Riggs Financial and Cost Analysis: For Engineering and Technology Management, John Wiley & Sons, 1990
C.S. Park and G.P. Sharp-Bette, Advanced Engineering Economics, John Wiley & Sons, 1990
References
To be advised
Staff member responsible for the subject - Professor Lee Luong