Engineering Economic Analysis

Catalog description

Students learn the time value of money and the basic tools used in engineering economic decision making. The tools include engineering factor notation, algebraic formulas, and Excel functionality. The time value effect is studied as equivalences for present worth, annual worth, or future worth evaluations. Useful algorithms are presented for making sound economic investment decisions involving replacement theory, risk analysis, depreciation, tax incentives, rate of return, cost benefit ratio, return on investment, and economic service life.