Engineering Economy

Catalog description

Prerequisites: MTH 182; student must have at least sophomore standing. Course focuses on the coupling of technical analysis and economic feasibility to determine the best course of action among alternatives competing for scarce resources in both public and private sector projects. Studies the principles, concepts, and methodology of the time value of money as applied to governmental, industrial, and personal economic decisions. Topics include benefit-cost analysis, inflation, depreciation, taxes, tax abatements, risk and sensitivity analysis, and the comparison of alternatives. Discussion includes the ethical and social responsibilities of engineers as they apply to project decisions affecting job creation and loss, personnel placement, and capital expenditure. Social Science.