Fundamentals of Engineering Economics

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In today’s rapidly changing global economy, business managers must have the tools and know-how to quickly evaluate the economic viability of potential solutions to engineering problems. An entire field of study has evolved to meet this need, yet there are few straightforward texts that outline the basics of engineering economics.

Fundamentals of Engineering Economics is an accessible, comprehensive guide to the fundamental principles, concepts, and methods of engineering economics. Utilizing detailed case studies and exercises reflecting current trends and issues in economics, this book introduces students to a variety of key concepts, including estimation of the time value of money, evaluation of a single project, decision analysis, depreciation and taxes. This is an ideal textbook for Economic Analysis and Technical Applications students, or anyone seeking to gain an understanding of the core concepts of engineering economics.

Fundamentals of Engineering Economics is organized into the following topical chapters:

Overview of Engineering Economy

Fixed and Variable Costs

Time Worth of Money

Five Methods for Evaluation of Capital Project

Comparison of Alternates and Decision Analysis

Depreciation and Replacement Analysis

Taxes, Tariffs, and Duties

Public Sector Initiatives and Benefit-to-Cost Ratio

Break-Even Analysis and Spider Plots