Practice-Oriented Approach to the Study of Economics to Students of Engineer-Geological Specialties: Using the Example of Solving a Task Concerning the Processing of Technogenic Mineral Resources

Practice-Oriented Approach to the Study of Economics to Students of Engineer-Geological Specialties: Using the Example of Solving a Task Concerning the Processing of Technogenic Mineral Resources

Vadim Vitalievich Ponkratov, Andrey Sergeevich Pozdnyaev, Tatiana Alekseevna Bloshenko, Alena Fedorovna Kireyeva
Copyright: © 2019 |Pages: 11
DOI: 10.4018/978-1-5225-3395-5.ch020
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Practice-oriented models are essential when teaching economics to engineering students. This chapter will discuss how to set and solve the applied scientific task of processing technogenic mineral reserves. Tools will be offered relating to engineering geological, economic, and mathematical sciences, as well as to form a group of students with various specialties. Experiments will aim to find solutions to these tasks with a generalized gradient method. This chapter will use evolutionary algorithms to calculate ad valorem MET rates. Technogenic raw materials are of economic interest to extract valuable components and produce finished goods. Often, the content of valuable components in technogenic deposits (TD) exceeds the content in natural fields. While secondary mineral resources harm the ecosystem, it is impossible to prevent environmental risks due to the lack of subsoil use. Differentiated rates will be selected based on maximum MET capacity on all valuable components extracted from deposits provided that each deposit is considered an investment project for the stated problem.
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Training students of engineering specialties is growing due to modern conditions. Graduates can apply their fundamental knowledge of basic economics and experience in making calculations in the following areas:

  • Innovative entrepreneurship and technological start-up;

  • Collaborative initiatives with economic agencies within large corporations;

  • Integration into modern hi-tech businesses;

  • High-level research and engineer studies, as well as their subsequent commercialization.

Aside from traditional workshops and lectures, practice-oriented teaching methods (i.e., a case study method, brainstorming sessions, etc.) are required. It is effective to conduct classes in mixed groups depending on their field specialization (i.e., merging engineers, technologists, economists, etc.). As Russian universities abolish the engineer-economist specialty, this approach will be valuable.

The following section will consider the extended example of interrelated application of engineering geological, economic, and mathematical tools to solve the applied scientific task concerning the processing of technogenic mineral reserves.

Key Terms in this Chapter

Categories of Reserves: ?, ?, ?1, ?2. Reserves of categories A and B are geologically the most detail investigated deposits of operating mines where the current or prior operational prospecting by underground drilling has been fulfilled. Reserves of category C1 are the basic category created by detail prospecting which are used together with A and B for compilation of mine projects, estimation of profitability of ores refinement. Reserves of category C2 are amassed on the flanks of deposits of rich cupriferous ores and deep mines. Besides balance and off-balance reserves in deposits and ore regions ??? the forecasted recourses of categories P1, P2 and P3 are estimated.

NPV: Net present value, the sum of the discounted values of the flow of payments given to today.

MET: Severance tax. It is paid when developing fields proceeding from quantity or cost of the extracted mineral raw materials.

Cadastre of Technogenic Deposit: Should be supplemented by the information: 1) capital and operating project costs on the development of each TD; 2) annual extraction of each useful component in the case of realization the investment project when NPV is more than zero; 3) price forecast for all components in the raw materials for the term of investment project.

IRR: Internal rate of return.

Technogenic Deposit (TD)/Technogenic Fields (TF): Mining mineral wastes. Technical difficulties to reproduce them are usually absent.

Tax Base: Cost, physical or other characteristic of an object of the taxation.

Tax Rate: The size of tax charges on a unit of measure of tax base.

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