ENGR 355 Engineering Economics
Students learn a set of Engineering Economic techniques that serve as powerful tools to aid in the design, implementation and continued improvement of any engineering project or process. The primary goal of this course is to help students develop an ability to make sound economic decisions, thereby facilitating effective evaluation and selection of alternative technical, design, and engineering solutions. In this course students will be exposed to the analysis of financial data, the concept of interest rates, the time value of money, economic analysis using the three worths, internal rate of return and benefit cost analysis. Furthermore, the student will gain a comprehensive knowledge about advanced engineering economy topics such as depreciation, capital cost and recovery, after tax analysis, inflation, sensitivity analysis, risk analysis and simulation. Laboratory exercises include the use of spreadsheets to solve engineering economy problems and a series of labs that parallel the lecture portion of the course.