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Computational Economic Analysis for Engineering and Industry




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ISBN 9780849374777
Published June 7, 2007 by CRC Press
304 Pages - 107 B/W Illustrations

 
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Book Description

Recent global anxiety indicates that more focus needs to be directed at economic issues related to industry. Conventional techniques often do not adequately embrace the integrated global factors that affect unique industries and industry focused computational tools have not been readily available. Until now. Computational Economic Analysis for Engineering and Industry presents direct computational tools, techniques, models, and approaches for economic analysis with a specific focus on industrial and engineering processes.

Here are just a few of the topics you'll find:

  • New economic analysis models and techniques
  • Tent-shaped cash flows
  • Industrial economic analysis
  • Project-based economic measures
  • Profit ratio analysis
  • Equity break-even point
  • Utility based analysis
  • Project-balance analysis
  • Customized ENGINEA software tool
  • Engineering conversion factors

    The authors supply downloadable software, ENGINEA, that allows you to easily perform the various techniques outlined in the text, such as investment justification, breakeven analysis, and replacement analysis. Providing a high-level presentation of economic analysis of the unique aspects of industrial processes, they integrate mathematical models, optimization, computer analysis, and managerial decision processes. A comprehensive treatment of economic analysis considering the specific needs of industry, the book is a pragmatic alternative to conventional economic analysis books.
  • Table of Contents

    APPLIED ECONOMIC ANALYSIS
    Cost- and Value-Related Definitions
    Economics of Worker Assignment
    Economics of Resource Utilization
    Minimum Annual Revenue Requirement (MARR) Analysis

    COST CONCEPTS AND TECHNIQUES
    Project Cost Estimation
    Cost Monitoring
    Project Balance Technique
    Cost and Schedule Control Systems Criteria
    Sources of Capital
    Commercial Loans
    Bonds and Stocks
    Interpersonal Loans
    Foreign Investment
    Investment Banks
    Mutual Funds
    Supporting Resources
    Activity-Based Costing
    Cost, Time, and Productivity Formulas
    Practice Problems for Cost Concepts and Techniques

    FUNDAMENTALS OF ECONOMIC ANALYSIS
    The Economic Analysis Process
    Simple and Compound Interest Rates
    Investment Life for Multiple Returns
    Nominal and Effective Interest Rates
    Cash-Flow Patterns and Equivalence
    Compound Amount Factor
    Present Worth Factor
    Uniform Series Present Worth Factor
    Uniform Series Capital Recovery Factor
    Uniform Series Compound Amount Factor
    Uniform Series Sinking Fund Factor
    Capitalized Cost Formula
    Permanent Investments Formula
    Arithmetic Gradient Series
    Increasing Geometric Series Cash Flow
    Decreasing Geometric Series Cash Flow
    Internal Rate of Return
    Benefit/cost ratio
    Simple Payback Period
    Discounted Payback Period
    Fixed and Variable Interest Rates
    Practice Problems for Fundamentals of Economic Analysis

    ECONOMIC METHODS FOR COMPARING INVESTMENT ALTERNATIVES
    Net Present Value Analysis
    Annual Value Analysis
    Internal Rate of Return Analysis
    Incremental Analysis
    Guidelines for Comparison of Alternatives
    Practice Problems: Comparing Investment Alternatives

    ASSET REPLACEMENT AND RETENTION ANALYSIS
    Considerations for Replacement Analysis
    Terms of Replacement Analysis
    Economic Service Life (ESL)
    Replacement Analysis Computation
    Practice Problems for Replacement and Retention Analysis

    DEPRECIATION METHODS
    Terminology of Depreciation
    Depreciation Methods
    Practice Problems: Depreciation Methods

    Break-even analysis
    Profit Ratio Analysis
    Practice Problems: Break-Even Analysis

    EFFECTS OF INFLATION AND TAXES
    Mild Inflation
    Moderate Inflation
    Severe Inflation
    Hyperinflation
    Foreign-Exchange Rates
    After-Tax Economic Analysis
    Before-Tax and After-Tax Cash Flow
    Effects of Taxes on Capital Gain
    After-Tax Economic Analysis
    Practice Problems: Effects of Inflation and Taxes

    ADVANCED CASH-FLOW ANALYSIS TECHNIQUES
    Amortization of Capitals
    Introduction to Tent Cash-Flow Analysis
    Special Application of AGS
    Design and Analysis of Tent Cash-Flow Profiles
    Derivation of General Tent Equation

    MULTIATTRIBUTE INVESTMENT ANALYSIS AND SELECTION
    The Problem of Investment Selection
    Utility Models
    The Analytic Hierarchy Process
    Investment Benchmarking
    References

    BUDGETING AND CAPITAL ALLOCATION
    Top-Down Budgeting
    Bottom-Up Budgeting
    Mathematical Formulation of Capital Allocation

    THE ENGINEA SOFTWARE: A TOOL FOR ECONOMIC EVALUATION
    The ENGINEA Software
    The Excel Spreadsheet Functions
    Reference

    COST BENCHMARKING CASE STUDY
    Abstract
    Introduction
    Basis of the Methodology
    Evaluation Baselines
    Data Collection Processes
    Analysis of the Factors
    Conclusions and Recommendations
    Reference

    Appendix A: Definitions and Terms
    Appendix B: Engineering Conversion Factors
    Appendix C: Computational and Mathematical Formulae
    Appendix D: Units of Measure
    Appendix E: Interest Factors and Tables
    Index

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