Engineering Economy - E-book - ePub

"Engineering Economy: Theory and Practice" is a comprehensive guide designed to provide engineering students and professionals with the essential knowledge and skills to make informed economic decisions in the field of engineering. Within the pages of this book, readers will find:Fundamental Concepts: An in-depth exploration of fundamental economic principles relevant to engineering, including time value of money, cash flow analysis, and cost estimation techniques.
Financial Analysis Tools: Practical guidance on applying various financial analysis tools such as net present value (NPV), internal rate of return (IRR), payback period, and sensitivity analysis to evaluate engineering projects and investments. Decision-Making Strategies: Strategies for selecting among alternative engineering projects based on economic criteria, considering factors such as risk, uncertainty, and project constraints.
Real-World Case Studies: Real-world case studies and examples drawn from diverse engineering sectors, providing readers with hands-on experience in applying economic principles to solve complex engineering problems. Ethical Considerations: Discussions on the ethical implications of engineering economic decisions, emphasizing the importance of considering social, environmental, and ethical factors in addition to financial considerations.
Future Trends: Insights into emerging trends and technologies shaping the field of engineering economy, including the integration of sustainability principles, the impact of digitalization, and the role of data analytics in decision-making processes. Whether you're a student embarking on your engineering career or a seasoned professional looking to enhance your understanding of engineering economics, "Engineering Economy: Theory and Practice" equips you with the knowledge and tools necessary to navigate the economic complexities of engineering projects with confidence and competence.