This course is designed to enhance the student’s knowledge of and ability to apply: 1. Identification, formulating and solving engineering problems. 2. Time-money relationships, cash flow, and effects of inflation. 3. Present worth (PW) method, annual worth (AW) method, rate of return (ROR) method, benefit/cost ratio (B/C) method, and incremental rate of return analysis. 4. Depreciation schedules, replacement analysis, and after-tax analysis. 5. Engineering economy principles in conjunction with the Fundamentals of Professional Engineering Examination and Registration Process.

The systematic evaluation of the economic benefits and costs of projects involving engineering design and analysis. Economic decision-making in an environment of limited resources and uncertainty. Present economy, the economy of multi-year projects, selection among competing alternatives, sensitivity of outcomes to input parameters, before- and after-tax analysis, replacement economy, inflation, and estimation of future events.