Student, who passed the course satisfactorily will be able to:
- Apply the principles of engineering economics and time value of money to engineering projects
- Estimate the performance of a petroleum asset and convert the performance to a cash-flow analysis using prices and costs
- Incorporate government related laws such as taxes and royalty into the economic study
- Evaluate and compare different investment alternatives based on their economic indicators such as NPV, ROR, DPI, etc. and recommend a decision
- Analyze the recommended decision by conducting appropriate sensitivity and risk analysis through expected value concept, decision trees and visual analysis