Fundamentals of Engineering Economics

Catalog description

Analysis of cost elements in engineering projects and operations. Topics include: comparison of project alternatives; selecting an alternative by applying Benefit/Cost Analysis, Present Worth Method, Annual Worth Method, and Internal Rate of Return; introduction to risk analysis, accounting fundamentals, financial statements, and capital financing and allocation. Ethical and social responsibilities as applied to engineering project decisions. Practical applications of cost concepts and the application towards the different phases of manufacturing or project implementation. Use of Microsoft Excel in performing analysis.