Introduction to the Practice of Engineering Economics

Overview

In today's competitive business environment, it is more important than ever for engineers to be able to make sound economic decisions. This book provides a comprehensive introduction to the practice of engineering economics, with a focus on the practical application of economic principles to real-world engineering problems.

Key Features

• Comprehensive coverage: This book covers all the essential topics in engineering economics, including:
  • Time value of money
  • Interest rates
  • Inflation
  • Depreciation
  • Cost-benefit analysis
  • Risk analysis
  • Decision-making under uncertainty
• Real-world examples: The book is full of real-world examples that illustrate how economic principles can be applied to solve engineering problems. These examples are drawn from a variety of industries, including manufacturing, construction, and transportation.
• End-of-chapter problems: Each chapter includes end-of-chapter problems that allow readers to test their understanding of the material. These problems are designed to be challenging, but they are also fair and provide valuable practice for solving real-world engineering economics problems.
• Instructor's manual: An instructor's manual is available for this book, which includes solutions to all of the end-of-chapter problems.

Benefits of Reading This Book

This book will provide you with the knowledge and skills you need to make sound economic decisions in your engineering career. You will learn how to:

• Evaluate the economic viability of engineering projects
• Compare different investment options
• Manage risk and uncertainty
• Make decisions that are in the best interests of your company

Who Should Read This Book?

This book is ideal for undergraduate and graduate students in engineering who are interested in learning more about engineering economics. It is also a valuable resource for practicing engineers who want to stay up-to-date on the latest economic principles and techniques.

Conclusion

If you are an engineer who wants to make sound economic decisions, then this book is a must-read. It provides a comprehensive introduction to the practice of engineering economics, with a focus on the practical application of economic principles to real-world engineering problems.