Scribd
Upload
12 views3 pages

COURSE OUTLINE (Engineering Eco)

The course GEG 501/ECN 471, titled Engineering Economics, focuses on evaluating costs and benefits of technical projects, emphasizing the time value of money and discounted cash flow methods. Key topics include economic analysis, interest formulas, present worth methods, depreciation, and value analysis. Recommended readings include various editions of engineering economy texts to support the curriculum.

Uploaded by

Olorode Durotimi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
12 views3 pages

COURSE OUTLINE (Engineering Eco)

The course GEG 501/ECN 471, titled Engineering Economics, focuses on evaluating costs and benefits of technical projects, emphasizing the time value of money and discounted cash flow methods. Key topics include economic analysis, interest formulas, present worth methods, depreciation, and value analysis. Recommended readings include various editions of engineering economy texts to support the curriculum.

Uploaded by

Olorode Durotimi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

COURSE OUTLINE

Course Code: GEG 501/ECN 471


Course Title: Engineering Economics
Course Lecturers: K.B. AJIDE and S.I. OJO

Course Description
Engineering economics emphasizes the systematic evaluation of the
costs and benefits associated with proposed technical projects. The
student will be exposed to the concepts of the “time value of money”
and the methods of discounted cash flow. Students are prepared to
make decisions regarding money as capital within a technological or
engineering environment. This course is mainly concerned with
economic analysis for engineering and managerial decision making
by the use of techniques for evaluating the worth of prospective
projects, investment opportunities and design choices.
TOPIC ONE: Introduction
Economics
 Flow in an Economy
 Law of Supply and Demand
Concept of Engineering Economics
 Types of Efficiency
 Definition and Scope of Engineering Economics
Elements of Costs
 Other Costs/Revenues
 Marginal Cost
 Marginal Revenue
 Sunk Cost
 Opportunity Cost
Break-Even Analysis
Profit/Volume Ratio (P/V Ratio)

TOPIC TWO: Elementary Economic Analysis


Introduction
Examples for Simple Economic Analysis
 Material Selection for a Product/Substitution of Raw Material
 Design Selection for a Product
 Building Material Selection
 Process Planning/Process Modification

TOPIC THREE: Interest Formulas and Their Applications


Introduction
Time Value of Money
Interest Formulas
 Single-Payment Compound Amount
 Single-Payment Present Worth Amount
 Equal-Payment Series Compound Amount
 Equal-Payment Series Sinking Fund
 Equal-Payment Series Present Worth Amount
 Equal-Payment Series Capital Recovery Amount
 Uniform Gradient Series Annual Equivalent Amount
 Effective Interest Rate
Bases for Comparison of Alternatives

TOPIC FOUR: Present Worth Method of Comparison


Introduction
Revenue-dominated Cash Flow Diagram
Cost-dominated Cash Flow Diagram

TOPIC FIVE: Rate of Return Method

TOPIC SIX: Replacement and Maintenance Analysis


Introduction
Types of Maintenance
Types of Replacement Problem
Determination of Economic Life of an Asset
Replacement of Existing Asset with a New Asset
 Capital Recovery with Return
 Concept of Challenger and Defender
Simple Probabilistic Model for Items Which Fail Completely

TOPIC SEVEN: Depreciation


Introduction
Methods of Depreciation
 Straight Line Method of Depreciation
 Declining Balance Method of Depreciation
 Sum-of-the-Years-Digits Method of Depreciation
 Sinking Fund Method of Depreciation
 Service Output Method of Depreciation

TOPIC EIGHT: Value Analysis /Value Engineering


Introduction
When to Apply Value Analysis
 Value Analysis versus Value Engineering
Function
Aims
Value Engineering Procedure
Advantages and Application Areas

TOPIC NINE: Linear Programming


Introduction
Development of LP Models
Graphical Method
Simplex Method

Recommended Book(s)
Engineering Economy, Leland Blank and Anthony Tarquin, Latest
Edition
Engineering Economy, WG Sullivan, EM Wicks And CP
Koelling, 14th Edition
Fundamentals of Engineering Economics, 3rd ed., by Chan S. Park
Engineering Economy. Macmillan Publishing Company, New
York .DeGarmo, E. Paul; Sullivan, G. William and Bontadelli, A.
James.
Engineering Economic and Cost Analysis. Harper & Row, Publishers,
New York. Collier, A. Courtland and Ledbetter, B. William.
Principles of Engineering Economic Analysis. John Wiley &
Sons.White, A. John; Agee H. Marvin and Case, E. Kenneth.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy