CMDP-4001Engineering Economics
This course provides an introduction to engineering decision making. It deals primarily with cash flows associated with engineering projects and related mathematical tools for manipulating monetary values over time. The course also presents less quantifiable considerations related to business policy, social responsibility, and ethics. Key studies include basic elements of engineering decision making, financial depreciation of assets, economic methods for comparing costs and benefits that occur at different times, cash flow analysis using principal formulas and compound interest factors, methods of evaluating and comparing projects, and methods of making choices about possible replacement of assets.
