The “dollars and cents” business side of Engineering often doesn’t receive the emphasis that employers would like. While engineers typically work towards a goal of finding the most efficient solution to a problem, in the business world, “efficiency” often means the least-cost solution. Engineering Economics provides the tools for determining the most cost-effective alternative in an organized fashion.
In this course the student will learn some of the fundamentals of Engineering Economics. This topic is relevant to any engineer who must consider cost in his or her decisions.
After completing this course, the student should understand time value of money calculations, the effects of inflation, the accounting concept of depreciation, and how to recognize and organize project cash flows.
The student must take a multiple-choice quiz consisting of twelve questions at the end of this course to obtain PDH credits.
Specific Knowledge or Skill Obtained
This course teaches the following specific knowledge and skills:
- Time value of money
- Discount rate
- Project cash flows
Click on the following link to the PDF document to review the course material before taking the quiz for credit.
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