Basic knowledge of economic models of behaviours and interactions among market actors (consumers and firms). Analysis of cost accounting and capital budgeting methods and tools, aimed at understanding the role of risk evaluation.
Curriculum
scheda docente
materiale didattico
Learning unit: Elements of economic analysis
- Consumer and producer behaviour: the problem of optimal consumer choice subject to the budget constraint, elasticity of demand
- Production decisions (short- and long-run): technology and production function, returns to scale
- Production costs: average and marginal costs; fixed and variable production costs.
Learning unit: The nature of accounting systems - management accounting
- The nature of management accounting
- The classification of costs according to their behaviour
- Full costs and their use: Direct costs and indirect costs; Comparison of direct costs and variable costs; Special costs and common costs versus direct costs and indirect costs; Cost flow diagrams; Life Cycle Costing;
- Job-order and process-based costing systems; The recognition of direct costs (labour and materials); The problem of indirect cost allocation; Cost centres; Overhead cost allocation coefficients;
- Activity-based costing: Activity Based Costing (outline)
Learning unit: The decision-making and control processes of enterprises: Methodologies for analysing investment projects
- Present value and opportunity cost of capital; The net present value rule; Valuation of long-term assets; Perpetual and annuity annuities; Compound interest and present value; Nominal and real interest rates;
- Criteria for choosing alternative investments to Net Present Value: Payback Time; Internal Rate of Return
- Investment decisions using the NPV method: Estimating cash flows and interaction between projects; Annual equivalent costs
Reference Text:
"ECONOMICS APPLIED TO ENGINEERING", EDITION 2022 - "CREATE" BOOK SPECIFIC TO THE COURSE HELD AT THE ENGINEERING DEPARTMENT, FROM THE MC GRAW HILL PUBLISHING HOUSE - AVAILABLE IN SOME COPIES AT THE "EFESTO" BOOKSTORE AND AT ONLINE BOOKSTORE SITES
THE DIGITAL VERSION CAN BE PURCHASED ON THE MCGRAW-HILL WEBSITE https://www.mheducation.com/highered/custom, SELECTING ITALY AS THE COUNTRY AND ENTERING THE ISBN CODE 9781307851151
THE TEXT IS CREATED WITH CHAPTERS FROM THE FOLLOWING BOOKS
BERNHEIM, WHINSTON, "MICROECONOMICS", 3/ED, MC GRAW HILL, 2020 - CHAPTERS 1 TO 4 and 6 TO 8 (chapters are the same if you refer to the 4th edition of 2023)
ANTHONY, HAWKINS, MACRI, MERCHANT, "CONTROL SYSTEMS" 15/ED, MAC GRAW HILL, 2021 - CHAPTERS 1 TO 5 AND 14 TO 17
BERNHEIM, WHINSTON, “Microeconomia”, 3/ED, MC GRAW HILL, 2020 – CAPITOLI DA 1 A 4 e da 6 a 8 (i capitoli sono gli stessi, se si fa riferimento alla 4a edizione del 2023)
ANTHONY, HAWKINS, MACRI’, MERCHANT, “SISTEMI DI CONTROLLO” 15/ED, MAC GRAW HILL, 2021 – CAPITOLI DA 1 A 5 E DA 14 A 17
Programma
Contents:Learning unit: Elements of economic analysis
- Consumer and producer behaviour: the problem of optimal consumer choice subject to the budget constraint, elasticity of demand
- Production decisions (short- and long-run): technology and production function, returns to scale
- Production costs: average and marginal costs; fixed and variable production costs.
Learning unit: The nature of accounting systems - management accounting
- The nature of management accounting
- The classification of costs according to their behaviour
- Full costs and their use: Direct costs and indirect costs; Comparison of direct costs and variable costs; Special costs and common costs versus direct costs and indirect costs; Cost flow diagrams; Life Cycle Costing;
- Job-order and process-based costing systems; The recognition of direct costs (labour and materials); The problem of indirect cost allocation; Cost centres; Overhead cost allocation coefficients;
- Activity-based costing: Activity Based Costing (outline)
Learning unit: The decision-making and control processes of enterprises: Methodologies for analysing investment projects
- Present value and opportunity cost of capital; The net present value rule; Valuation of long-term assets; Perpetual and annuity annuities; Compound interest and present value; Nominal and real interest rates;
- Criteria for choosing alternative investments to Net Present Value: Payback Time; Internal Rate of Return
- Investment decisions using the NPV method: Estimating cash flows and interaction between projects; Annual equivalent costs
Reference Text:
"ECONOMICS APPLIED TO ENGINEERING", EDITION 2022 - "CREATE" BOOK SPECIFIC TO THE COURSE HELD AT THE ENGINEERING DEPARTMENT, FROM THE MC GRAW HILL PUBLISHING HOUSE - AVAILABLE IN SOME COPIES AT THE "EFESTO" BOOKSTORE AND AT ONLINE BOOKSTORE SITES
THE DIGITAL VERSION CAN BE PURCHASED ON THE MCGRAW-HILL WEBSITE https://www.mheducation.com/highered/custom, SELECTING ITALY AS THE COUNTRY AND ENTERING THE ISBN CODE 9781307851151
THE TEXT IS CREATED WITH CHAPTERS FROM THE FOLLOWING BOOKS
BERNHEIM, WHINSTON, "MICROECONOMICS", 3/ED, MC GRAW HILL, 2020 - CHAPTERS 1 TO 4 and 6 TO 8 (chapters are the same if you refer to the 4th edition of 2023)
ANTHONY, HAWKINS, MACRI, MERCHANT, "CONTROL SYSTEMS" 15/ED, MAC GRAW HILL, 2021 - CHAPTERS 1 TO 5 AND 14 TO 17
Testi Adottati
IL TESTO E’ CREATO CON I CAPITOLI DEI SEGUENTI LIBRIBERNHEIM, WHINSTON, “Microeconomia”, 3/ED, MC GRAW HILL, 2020 – CAPITOLI DA 1 A 4 e da 6 a 8 (i capitoli sono gli stessi, se si fa riferimento alla 4a edizione del 2023)
ANTHONY, HAWKINS, MACRI’, MERCHANT, “SISTEMI DI CONTROLLO” 15/ED, MAC GRAW HILL, 2021 – CAPITOLI DA 1 A 5 E DA 14 A 17
Modalità Erogazione
TraditionalModalità Frequenza
Attendance is not mandatoryModalità Valutazione
The examination consists of a written test with questions on the theory of the various course topics and the resolution of some exercises. A possible oral examination may be added to the written test.
scheda docente
materiale didattico
Learning unit: Elements of economic analysis
- Consumer and producer behaviour: the problem of optimal consumer choice subject to the budget constraint, elasticity of demand
- Production decisions (short- and long-run): technology and production function, returns to scale
- Production costs: average and marginal costs; fixed and variable production costs.
Learning unit: The nature of accounting systems - management accounting
- The nature of management accounting
- The classification of costs according to their behaviour
- Full costs and their use: Direct costs and indirect costs; Comparison of direct costs and variable costs; Special costs and common costs versus direct costs and indirect costs; Cost flow diagrams; Life Cycle Costing;
- Job-order and process-based costing systems; The recognition of direct costs (labour and materials); The problem of indirect cost allocation; Cost centres; Overhead cost allocation coefficients;
- Activity-based costing: Activity Based Costing (outline)
Learning unit: The decision-making and control processes of enterprises: Methodologies for analysing investment projects
- Present value and opportunity cost of capital; The net present value rule; Valuation of long-term assets; Perpetual and annuity annuities; Compound interest and present value; Nominal and real interest rates;
- Criteria for choosing alternative investments to Net Present Value: Payback Time; Internal Rate of Return
- Investment decisions using the NPV method: Estimating cash flows and interaction between projects; Annual equivalent costs
Reference Text:
"ECONOMICS APPLIED TO ENGINEERING", EDITION 2022 - "CREATE" BOOK SPECIFIC TO THE COURSE HELD AT THE ENGINEERING DEPARTMENT, FROM THE MC GRAW HILL PUBLISHING HOUSE - AVAILABLE IN SOME COPIES AT THE "EFESTO" BOOKSTORE AND AT ONLINE BOOKSTORE SITES
THE DIGITAL VERSION CAN BE PURCHASED ON THE MCGRAW-HILL WEBSITE https://www.mheducation.com/highered/custom, SELECTING ITALY AS THE COUNTRY AND ENTERING THE ISBN CODE 9781307851151
THE TEXT IS CREATED WITH CHAPTERS FROM THE FOLLOWING BOOKS
BERNHEIM, WHINSTON, "MICROECONOMICS", 3/ED, MC GRAW HILL, 2020 - CHAPTERS 1 TO 4 and 6 TO 8 (chapters are the same if you refer to the 4th edition of 2023)
ANTHONY, HAWKINS, MACRI, MERCHANT, "CONTROL SYSTEMS" 15/ED, MAC GRAW HILL, 2021 - CHAPTERS 1 TO 5 AND 14 TO 17
BERNHEIM, WHINSTON, “Microeconomia”, 3/ED, MC GRAW HILL, 2020 – CAPITOLI DA 1 A 4 e da 6 a 8 (i capitoli sono gli stessi, se si fa riferimento alla 4a edizione del 2023)
ANTHONY, HAWKINS, MACRI’, MERCHANT, “SISTEMI DI CONTROLLO” 15/ED, MAC GRAW HILL, 2021 – CAPITOLI DA 1 A 5 E DA 14 A 17
Programma
Contents:Learning unit: Elements of economic analysis
- Consumer and producer behaviour: the problem of optimal consumer choice subject to the budget constraint, elasticity of demand
- Production decisions (short- and long-run): technology and production function, returns to scale
- Production costs: average and marginal costs; fixed and variable production costs.
Learning unit: The nature of accounting systems - management accounting
- The nature of management accounting
- The classification of costs according to their behaviour
- Full costs and their use: Direct costs and indirect costs; Comparison of direct costs and variable costs; Special costs and common costs versus direct costs and indirect costs; Cost flow diagrams; Life Cycle Costing;
- Job-order and process-based costing systems; The recognition of direct costs (labour and materials); The problem of indirect cost allocation; Cost centres; Overhead cost allocation coefficients;
- Activity-based costing: Activity Based Costing (outline)
Learning unit: The decision-making and control processes of enterprises: Methodologies for analysing investment projects
- Present value and opportunity cost of capital; The net present value rule; Valuation of long-term assets; Perpetual and annuity annuities; Compound interest and present value; Nominal and real interest rates;
- Criteria for choosing alternative investments to Net Present Value: Payback Time; Internal Rate of Return
- Investment decisions using the NPV method: Estimating cash flows and interaction between projects; Annual equivalent costs
Reference Text:
"ECONOMICS APPLIED TO ENGINEERING", EDITION 2022 - "CREATE" BOOK SPECIFIC TO THE COURSE HELD AT THE ENGINEERING DEPARTMENT, FROM THE MC GRAW HILL PUBLISHING HOUSE - AVAILABLE IN SOME COPIES AT THE "EFESTO" BOOKSTORE AND AT ONLINE BOOKSTORE SITES
THE DIGITAL VERSION CAN BE PURCHASED ON THE MCGRAW-HILL WEBSITE https://www.mheducation.com/highered/custom, SELECTING ITALY AS THE COUNTRY AND ENTERING THE ISBN CODE 9781307851151
THE TEXT IS CREATED WITH CHAPTERS FROM THE FOLLOWING BOOKS
BERNHEIM, WHINSTON, "MICROECONOMICS", 3/ED, MC GRAW HILL, 2020 - CHAPTERS 1 TO 4 and 6 TO 8 (chapters are the same if you refer to the 4th edition of 2023)
ANTHONY, HAWKINS, MACRI, MERCHANT, "CONTROL SYSTEMS" 15/ED, MAC GRAW HILL, 2021 - CHAPTERS 1 TO 5 AND 14 TO 17
Testi Adottati
IL TESTO E’ CREATO CON I CAPITOLI DEI SEGUENTI LIBRIBERNHEIM, WHINSTON, “Microeconomia”, 3/ED, MC GRAW HILL, 2020 – CAPITOLI DA 1 A 4 e da 6 a 8 (i capitoli sono gli stessi, se si fa riferimento alla 4a edizione del 2023)
ANTHONY, HAWKINS, MACRI’, MERCHANT, “SISTEMI DI CONTROLLO” 15/ED, MAC GRAW HILL, 2021 – CAPITOLI DA 1 A 5 E DA 14 A 17
Modalità Erogazione
TraditionalModalità Frequenza
Attendance is not mandatoryModalità Valutazione
The examination consists of a written test with questions on the theory of the various course topics and the resolution of some exercises. A possible oral examination may be added to the written test.