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Subject professor
Term consultation:

wednesday 11-13

E-mail: cedomir.beljic@rgf.bg.ac.rs

Engineering Economics

Course Description

Study program: Environmental Engineering (VII semester -OAS), Mining Engineering (V semester -OAS), Petroleum Engineering (VIII semester -OAS)

Name of subject: Engineering Economics

Instructors: Dr Čedomir Beljić, Veljko Lapčević

Status: Compulsory


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.


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.Тhe 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

  1. Јанковић С. и Миловановић Д., Екононмска геологија и основи економике минералних сировина, РГФ Београд, 1985.
  2. Милутиновић,В.,Рудничка еконоија, РГФБеоград,1972.
  3. Dovd P.A., Mine Finance and Valuation, University of Leeds 1994.
  4. F.W.Wellmer;M.Dalheimer;M.Wagner;Economic evaluation in Exploration, 2nd edition;Springer 2008.

Fund Hours:

Lectures Exercises Other forms of teaching Study research
2 2 0 0

Conduct of the Course: Lectures, interactive lecturer-student relationship. Multi-media presentations.

AssessmentОцена знања:

Final Exam ECTS
Oral Exam 15
Written Exam 15
Classwork Assessment ECTS
Class Participation 10
Written Tests 30
Seminars 30

Additional Assessment Criteria -