Basic Engineering Economics
Kevin A. Mussmacher, P.E.
This four-hour online course gives the working engineer an overview of the economics methods employed in effective engineering decisions as related to the designing, planning and implementation of successful projects. It emphasizes the practical benefits of the applications of such tools as Time Value of Money calculations, Depreciation, Replacement Analysis, Benefit to Cost Ratios, Break-even Analysis, and Life Cycle Cost.
This course includes
a multiple-choice quiz at the end, which is designed to enhance the understanding
of the course materials.
The objective of this course is to give the working engineer an overview of the economics methods employed in effective engineering decisions as related to the designing, planning and implementation of successful projects. This course is valuable to engineers, architects and other related professions as well as students in these disciplines.
At the conclusion of this course, the student will:
Course Introduction and Course Content
The introduction and the course content are in a PDF file (56 KB) Basic Engineering Economics. You need to open or download this document to study this course.Course Summary
Engineers and other
professionals must not have technical tunnel vision when approaching real world
projects. Everything involves making intelligent decisions and designs based
on factors both technical and economic. This course provides the professional
with the tools to take a complete look at the technical and monetary effects
of design decisions or alternatives. The applications of the principals presented
here will produce a more rounded and complete project designer with a better
chance of meeting both technical and budgetary requirements on assigned tasks.
For additional information related to this subject, please refer to the following books on the subject:
Engineering Economics, Fourth Edition by James Riggs, David Bedworth and Sabah Randhawa. February 1996, McGraw-Hill Publishing.
Economics, Third Edition by Chan S. Park, 2002, Prentice Hall
Once you finish studying the above course content, you need to take a quiz to obtain the PDH credits.