Engineering economics provides a set of tools to
aid in deciding which course of economic action is most desirable
to take in an engineering project. In this course, money and profit
are the critical measures of performance in engineering design.
Topics
- Introduction to capital allocation problems
- The time value of money
- Application of economic equivalence to engineering
design problems
- Economic criteria for comparing projects
- Depreciation and taxation
- Retirement and replacement
- Effects of inflation and escalation on economic
evaluations
- Use of optimization methods to evaluate many
alternatives
- Decision Analysis: the effect of risk and attitudes
- Accounting fundamentals: income and balance
sheets
