Pre-requisites: none
COURSE OBJECTIVES:
To provide students with a sound understanding of the principles, basic concepts and methodology of engineering economics.
ESSENTIAL TOPICS TO BE COVERED:
COURSE DESCRIPTION:
Introduction to Engineering Economics, Cost Concepts and Design Economics, Money-Time Relationships and Equivalence, Application of Money-time Relationship, Comparing Alternatives, Depreciation and Income Taxes, Evaluating Projects with the Benefits \ Cost Ratio Methods, Cost Estimation Techniques, Price Changes Exchange Rates, Dealing with Uncertainty, Replacement Analysis, Capital Financing and allocation, Engineering Economic Study Results
Recommended Text(s):
- Engineering Economy by William G. Sullivan, James A. Bontadelli, Elin M. Wicks
- Engineering Economy by De Garmo
Reference:
Contemporary Engineering Economics by Chan S. Park
