Engineering Economics

Engineering Economics

In order to advance to upper and top management, engineering professionals must have a clear understanding of the finance and economics that directly impact the engineering profession and the firm or clients they serve. Engineers who run divisions, firms or companies must master another spectrum of skills; they must understand engineering economics.

In addition, this course directed to help foreign-trained engineers by offering engineering economics courses with a focus on preparing candidates to write and pass the APEGGA Professional Engineering exam. Engineering Economics is a program focused on capital investment decision-making and related investment issues. At the conclusion of this program, the participants will understand:

The organization’s criteria for investment decisions.
The time-value-of-money concept.
How to assess alternative investments.
How to assess and minimize risk associated with alternative investments.
This course provides an overview of financial techniques utilized by practicing engineers to solve a variety of problems. These will include annual cost, present worth, rate of return, depreciation, and benefit-cost methods of determining prospective differences between or among design alternatives. Fixed and variable costs, retirement and replacement issues will also be covered.
Course Outline and Covered Topics:

Introduction
Decision-Making Process
Interest and Equivalence
Present Worth Analysis
Annual Cash Flow Analysis
Rate of Return Analysis
Incremental Analysis
Other Analysis Techniques
Depreciation
Replacement Analysis
Inflation and Price Change
Income taxes
Disposal tax Effects
Income Tax Effects on Investments

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