An easy-to-follow contemporary engineering economics text that helps making sound economic decisions without advanced mathematics.
This one-semester introduction to the fundamentals of engineering economics provides an overview of the basic theory and mathematics underlying operational business decisions that engineering technology, engineering, and industrial technology students will face in the workplace. A basic knowledge of economics empowers a manager to balance costs with production.
This new edition of Fundamentals of Economics for Engineering Technologists and Engineers is written in plain language. Concepts have been simplified and kept straightforward with an emphasis on "how to apply" economic principles.
Practical examples as a tool for managing business data and giving detailed analysis of business operations. throughout the text make good use of Microsoft Excel templates, provided on the book’s companion website, for students. Chapter-end exercises provide discussion and multiple-choice questions along with numerical problems, and a solutions manual and instructor resources is given for adopting instructors.
1. Introduction 2. Cashflows 3. Single payment 4. Multiple payments 5. Payback period 6. Time value of money 7. Rate of return 8. Benefit-cost ratio 9. Comparison 10. Depreciation 11. Income tax 12. Replacement analysis 13. Break even analysis 14. Risk analysis 15. Other considerations