Company Economics and Finance

Unit Outline (Higher Education)

Level of Unit in Course

AQF Level(s) of Course

Level of Unit in Course

Introductory

Intermediate

Effective Term:

2024/20

Institute / School :

Institute of Innovation, Science & Sustainability

Unit Title:

Company Economics and Finance

Unit ID:

ENGIN5510

Credit Points:

15.00

Prerequisite(s):

Nil

Co-requisite(s):

Nil

Exclusion(s):

(ENMIN5150)

ASCED:

030303

Other Change:

Brief description of the Unit

This unit qualifies participants to apply an advanced body of knowledge in the area of mineral economics and equips them with highly developed skills for research and enquiry. Students enrolled in this unit will be able to apply the body of knowledge to a range of contexts within the mining industry enabling them to undertake professional or highly skilled work within the mining industry and allow them to undertake further study.

Grade Scheme:

Graded (HD, D, C, P, MF, F, XF)

Work Experience Indicator:

No work experience

Placement Component:

Supplementary Assessment:Yes

Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment

Course Level:

Learning Outcomes:

Knowledge:

K1.	Review capital and operating costs for mining systems employed in the mining industry.

K2.	Recognise and interpret the relationship between mining costs and revenues.

K3.	Identify and analyse the effect of time on the determination of the feasibility of mining projects.

Skills:

S1.	Appraise, consolidate and synthesise knowledge and identify and provide solutions to complex mine problems.

S2.	Evaluate complex ideas in mineral economics.

S3.	Select appropriate tools (that may include software) to solve problems in mineral economics.

Application of knowledge and skills:

A1.	Design a mining system/project from an economics perspective.

A2.	Interpret the economical viability of mining projects.

Unit Content:

Topics may include:
1. In depth analysis of techniques employed in the mining industry, focussing on the estimation of capital and operating costs and the impact of limited information on the estimation of these.
2. Taking into account time in economic feasibility determination for mines.
3. Mining Project Analysis: accounting for uncertainty.
4. Production Economics: Production from orebody extensions at marginal cost; Equipment maintenance and replacement decisions; Optimisation of blasting patterns; The cost of secondary breaking; Cost control systems and reporting.

Graduate Attributes:

	Learning Outcomes Assessed	Assessment Tasks	Assessment Type	Weighting
1.	K1-3, S1-3, A1	Numerical and conceptual tasks	Written assignments	50-60%
2.	K1-3, S1-3, A2	Evaluation of a mining project	Project report and associated Excel files	40-50%

Adopted Reference Style:

Other (IEEE-Refer to the library website for more information)

Professional Standards / Competencies:

Standard / Competency

Engineers Australia - Stage 1 (Professional): 2017 accreditation & AQF

Attribute			Assessed	Level
1 Knowledge and Skill Base
	1.1 Comprehensive, theory based understanding of the underpinning natural and physical sciences and the engineering fundamentals applicable to the engineering discipline.
		1.1.1 Engages with the engineering discipline at a phenomenological level, applying sciences and engineering fundamentals to systematic investigation, interpretation, analysis and innovative solution of complex problems and broader aspects of engineering practice.	Yes	Advanced
	1.2 Conceptual understanding of the, mathematics, numerical analysis, statistics, and computer and information sciences which underpin the engineering discipline.
		1.2.1 Develops and fluently applies relevant investigation analysis, interpretation, assessment, characterisation, prediction, evaluation, modelling, decision making, measurement, knowledge management and communication tools and techniques pertinent to the engineering discipline.	Yes	Advanced
	1.3 In-depth understanding of specialist bodies of knowledge within the engineering discipline.
		1.3.1 Proficiently applies advanced technical knowledge and skills in at least one specialist practice domain of the engineering discipline.	Yes	Advanced
	1.4 Discernment of knowledge development and research directions within the engineering discipline.
		1.4.1 Identifies and critically appraises current developments, advanced technologies, emerging issues and interdisciplinary linkages in at least one specialist practice domain of the engineering discipline.	Yes	Advanced
	1.5 Knowledge of contextual factors impacting the engineering discipline.
		1.5.1 Identifies and understands the interactions between engineering systems and people in the social, cultural, environmental, commercial, legal and political contexts in which they operate, including both the positive role of engineering in sustainable development and the potentially adverse impacts of engineering activity in the engineering discipline.	Yes	Advanced
		1.5.3 Is aware of the fundamentals of business and enterprise management.	No	Advanced
	1.6 Understanding of the scope, principles, norms, accountabilities and bounds of contemporary engineering practice in the specific discipline.
		1.6.2 Appreciates the basis and relevance of standards and codes of practice, as well as legislative and statutory requirements applicable to the engineering discipline.	Yes	Advanced
		1.6.4 Appreciates the social, environmental and economic principles of sustainable engineering practice.	Yes	Advanced
		1.6.5 Understands the fundamental principles of engineering project management as a basis for planning, organising and managing resources.	No	Advanced
2 Engineering Application Ability
	2.1 Application of established engineering methods to complex engineering problem solving.
		2.1.1 Identifies, discerns and characterises salient issues, determines and analyses causes and effects, justifies and applies appropriate simplifying assumptions, predicts performance and behaviour, synthesises solution strategies and develops substantiated conclusions.	Yes	Advanced
		2.1.4 Partitions problems, processes or systems into manageable elements for the purposes of analysis, modelling or design and then re-combines to form a whole, with the integrity and performance of the overall system as the paramount consideration.	Yes	Advanced
	2.2 Fluent application of engineering techniques, tools and resources.
		2.2.4 Applies a wide range of engineering tools for analysis, simulation, visualisation, synthesis and design, including assessing the accuracy and limitations of such tools, and validation of their results.	Yes	Advanced
		2.2.9 Understands the need for systematic management of the acquisition, commissioning, operation, upgrade, monitoring and maintenance of engineering plant, facilities, equipment and systems.	No	Advanced
		2.2.10 Understands the role of quality management systems, tools and processes within a culture of continuous improvement.	No	Advanced
	2.3 Application of systematic engineering synthesis and design processes.
		2.3.2 Addresses broad contextual constraints such as social, cultural, environmental, commercial, legal political and human factors, as well as health, safety and sustainability imperatives as an integral part of the design process.	Yes	Advanced
	2.4 Application of systematic approaches to the conduct and management of engineering projects.
		2.4.2 Seeks out the requirements and associated resources and realistically assesses the scope, dimensions, scale of effort and indicative costs of a complex engineering project.	Yes	Advanced
		2.4.3 Accommodates relevant contextual issues into all phases of engineering project work, including the fundamentals of business planning and financial management.	Yes	Advanced
		2.4.5 Is aware of the need to plan and quantify performance over the full life-cycle of a project, managing engineering performance within the overall implementation context.	No	Advanced
3 Professional and Personal Attributes
	3.1 Ethical conduct and professional accountability.
		3.1.1 Demonstrates commitment to uphold the Engineers Australia - Code of Ethics, and established norms of professional conduct pertinent to the engineering discipline.	No	Advanced
		3.1.2 Understands the need for due-diligence in certification, compliance and risk management processes.	No	Advanced
		3.1.3 Understands the accountabilities of the professional engineer and the broader engineering team for the safety of other people and for protection of the environment.	No	Advanced
		3.1.4 Is aware of the fundamental principles of intellectual property rights and protection.	Yes	Advanced
	3.2 Effective oral and written communication in professional and lay domains.
		3.2.2 Prepares high quality engineering documents such as progress and project reports, reports of investigations and feasibility studies, proposals, specifications, design records, drawings, technical descriptions and presentations pertinent to the engineering discipline.	Yes	Advanced
	3.3 Creative, innovative and pro-active demeanour.
		3.3.3 Is aware of broader fields of science, engineering, technology and commerce from which new ideas and interfaces may be may drawn and readily engages with professionals from these fields to exchange ideas.	Yes	Advanced
	3.4 Professional use and management of information.
		3.4.1 Is proficient in locating and utilising information - including accessing, systematically searching, analysing, evaluating and referencing relevant published works and data; is proficient in the use of indexes, bibliographic databases and other search facilities.	Yes	Advanced
	3.5 Orderly management of self, and professional conduct.
		3.5.3 Demonstrates commitment to life-long learning and professional development.	No	Advanced
		3.5.4 Manages time and processes effectively, prioritises competing demands to achieve personal, career and organisational goals and objectives.	Yes	Advanced
	3.6 Effective team membership and team leadership.
		3.6.4 Recognises the value of alternative and diverse viewpoints, scholarly advice and the importance of professional networking.	No	Advanced
		3.6.5 Confidently pursues and discerns expert assistance and professional advice.	No	Advanced