Course Objectives : At the end of this course, the student will
- learn how to evaluate the economic performance of engineering projects using the time value of money,
- learn basic cost terminology and concepts and the way they are used in engineering economic analysis and decision making,
- be able to generate and evaluate mutually exclusive alternatives for investment decision from a list of feasible project proposals,
- be able to learn the effect of depreciation and income tax considerations in investment decisions,
- learn how to evaluate public projects,
- learn break-even and sensitivity analysis methods and how to apply them in decision-making process,
- learn how to make decision for replacing an existing asset with a new one among the available ones,
- learn how inflation will effect the economic evaluation of investment projects.