- Instructor: Kylie Garrison
- Lectures: 45
- Students: 89885
- Duration: 10 weeks
This course offers a comprehensive look at engineering economic analysis, covering its fundamental principles, methodologies, and practical applications. The material introduces core concepts such as cash flow analysis, the time value of money, and various interest formulas used to assess the equivalence of financial alternatives. Key decision-making techniques, including present worth, rate of return (IRR), and benefit-cost ratio analysis, are detailed alongside methods for handling cost estimating, depreciation, and the impact of income taxes and inflation. Furthermore, the sources address complex scenarios like replacement analysis, risk and uncertainty (including simulation), capital rationing, and the necessary link between engineering decision-making and accounting principles.
Engineering Economic Analysis Course is based on textbook learning material by Academy Europe.
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Audience
This course by Academy Europe aims at imparting quality education and training to students.
Academy Europe is dedicated to its students, their specific learning requirements, and their overall learning success.
This course is directed toward a student-centered, independent study, asynchronous learning approach.
After completing this course on Academy Europe, students will get self improvement and promotion in their careers.
This course is based on at least two learning skills which are provided to the users through audio & visuals, videos, verbal presentations and articles, all of which are asynchronized with distance education approach.
Prerequisites
Before you start proceeding with this course on Academy Europe, we are assuming that you have a good aptitude and can think logically. You should want to try something different.
Ideal candidates for the course would typically possess:
– Discipline and attentiveness
– Ability to conduct research
– Ability to perform tasks with speed, efficiency, and accuracy
– Analytical judgment
– Patience to interpret technical/scientific data
– A willingness to learn, roll up your sleeves and work toward your dream!
– A computer, tablet or smartphone and an internet connection
– Basic computer skills
Curriculum
- 8 Sections
- 45 Lessons
- 10 Weeks
- Introduction1
- A Student's Guide to Smart Engineering Decisions: The Core of Economic Analysis6
- 2.1Introduction: Why Economics Matters to an Engineer
- 2.21. A Framework for Rational Decisions
- 2.32. The Golden Rule: Money’s Value Changes Over Time
- 2.43. Thinking Like an Economist: Understanding the Real Costs
- 2.54. Making the Final Choice: A Simple Guide
- 2.65. Conclusion: Your Journey into Economic Analysis
- Understanding the Building Blocks of Cost: A Guide for Future Engineers6
- Briefing Document: Core Principles of Engineering Economic Analysis8
- 4.1Executive Summary
- 4.2I. The Foundation of Engineering Economic Decisions
- 4.3II. Cost Concepts and Cost Estimating
- 4.4III. The Time Value of Money and Equivalence
- 4.5IV. Core Methodologies for Alternative Analysis
- 4.6V. Incorporating Real-World Complexities
- 4.7VI. Specialized Analysis Contexts
- 4.8VII. The Role of Accounting and Spreadsheets
- Comprehensive Lecture Notes: Principles of Engineering Economic Analysis7
- 5.1Introduction: The Engineer’s Role in Economic Decision-Making
- 5.2Module 1: Foundations of Decision-Making and Cost Analysis
- 5.3Module 2: The Time Value of Money and Equivalence
- 5.4Module 3: Core Project Evaluation Methods: PW, FW, and AW Analysis
- 5.5Module 4: Rate of Return (IRR) and Incremental Analysis
- 5.6Module 5: Real-World Factors: Depreciation, Taxes, and Inflation
- 5.7Module 6: Advanced Topics and Special Analyses
- A Strategic Framework for Engineering Project Investment Decisions8
- 6.1Introduction: The Imperative for Analytical Rigor in Engineering Investments
- 6.21.0 The Foundational Process for Rational Decision-Making
- 6.32.0 A Taxonomy of Engineering Costs: Assembling Relevant Financial Data
- 6.43.0 The Core Principle: Time Value of Money and Economic Equivalence
- 6.54.0 A Toolkit of Analytical Methodologies for Project Comparison
- 6.65.0 Integrating Real-World Complexities into the Analysis
- 6.76.0 Application Highlight: The Asset Replacement Decision
- 6.87.0 Conclusion: From Analysis to Strategic Advantage
- A Framework for Prudent Public Works Investment: Maximizing Societal Benefit Through Rigorous Economic Analysis5
- Study Guide for Engineering Economic AnalysisThis guide provides a comprehensive review of key concepts in engineering economic analysis. It includes a short-answer quiz with a corresponding answer key to test understanding, a set of essay questions to encourage deeper synthesis of the material, and a detailed glossary of essential terms and definitions.4
Requirements
- Discipline and attentiveness
- Ability to conduct research
- Ability to perform tasks with speed, efficiency, and accuracy
- Analytical judgment
- Patience to interpret technical/scientific data
- A willingness to learn, roll up your sleeves and work toward your dream!
- A computer, tablet or smartphone and an internet connection
- Basic computer skills
Features
- Before you start proceeding with this course on Academy Europe, we are assuming that you have a good aptitude and can think logically. You should want to try something different.
Target audiences
- This course by Academy Europe aims at imparting quality education and training to students.
- Academy Europe is dedicated to its students, their specific learning requirements, and their overall learning success.
- This course is directed toward a student-centered, independent study, asynchronous learning approach.
- After completing this course on Academy Europe, students will get self improvement and promotion in their careers.
- This course is based on at least two learning skills which are provided to the users through audio & visuals, videos, verbal presentations and articles, all of which are asynchronized with distance education approach.
