Engineering Economics

Engineering Economics

Description. This course includes Economic evaluation methods for industrial projects; deterministic and stochastic methods; deterministic investment analysis, application of algebraic, linear, and non-linear programming models; comparison of multiple projects under singular or multiple constraints.

Prerequisites. None. (2nd year Standing)

Objectives. At the end of the course, the student should be able to: 1) apply economic evaluation and mathematical programming methods in making decisions in single and multiattribute decision environments and 2) conduct modeling and tradeoff analysis for multicriteria and/or multi-objective problems.

 

TOPICS (tentative)

1.     Foundations of Engineering Economy

2.     Interest and Time Value of Money

3.     Economic Equivalence

4.     Nominal and Effective Interest Rates

5.     Depreciation

6.     Capital Financing

7.     Basic Analysis Tools

8.     Break-even and Payback analysis

9.     Benefit/Cost Ratio

10. Selection Among Alternatives

11. Decisions Under Uncertainty

12. Review of Probability

13. Multi-Attribute Decision-Making

Reference Text

Sullivan, W., Wicks, E., and Luxhoj, J. (2006). Understanding Engineering Economy (13th ed). Jurong, Singapore: Pearson Education South Asia Pte. Ltd.

Clemen, R. and Reilly, T. (2014). Making Hard Decisions with DecisionTools®, (3rd ed). Ohio, USA: Cengage Learning.

Blank, L. and Tarquin, A. (2012). Engineering Economy., (7th edition). Avenue of the Americas, New York: McGraw-Hill Companies.

Sta. Maria, H.B. (2007) Engineering Economy. 3Rd Edition. National Book Store

Sharma, K.R. (2011) Fundamentals of Engineering Economics. University Readers Inc., United States of America.

Tiong, J. (2014). General Engineering and Applied Science Third Edition. Imus, Cebu City. First Benchmark Publisher, Inc.

 

Course Requirement/s: (tentative)

Attendance (Async/Sync)

1. Examinations

2. Quizzes

3. Worksheets (Assignment, Problem sets)

NOTES

1. The references are not limited to the references listed in the syllabus.

2. Utilization of other instructional materials like the use of the internet, using reliable websites for surfing, etc. are also a part of the actual instruction.

3. A new trend in technology relevant to the subject matter not mentioned in this course syllabus is also a part of the actual instructions

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