Engineering Economics

This course covers the basics of cost accounting and cost estimation for engineering projects. Basic engineering economics topics include mathematics of finance, time value of money and economic analyses using three worths, internal rate of return and benefit cost figures of merit. Advanced topics include after tax analysis, inflation, risk analysis and multi attribute analysis. Laboratory exercises include introduction to the use of spreadsheet and a series of labs that parallel the lecture portion of the course. The student is introduced to an economic model (Spreadsheet to Determine the Economics of Engineering of Design and Development - SEED), which is used to design and provide typical venture capital financials. These financials are income statement, balance sheet, break-even analysis and sensitivity analysis.