On successful completion of this course, all students will have developed knowledge and understanding of:

• The fundamental concepts of engineering economy
• How to use engineering economy factors to account for the time value of money
• Service, revenue, mutually exclusive, and independent alternatives
• Economic analyses of alternatives using present worth, annual worth, future worth, and rate of return methods
• Selecting and applying a suitable technique for the evaluation of independent alternatives
• Selecting and applying a suitable technique for the comparison of mutually exclusive alternatives
• Determining the level of activity necessary or the value of a parameter to breakeven
• How to consider inflation in an engineering economy analysis