Engineering/Science Management Courses

ESM 605 - Engineering Economy

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3.0 Semester Credit Hours

Catalog Description

The science of fiscal decision making. Graduate level studies in problems of replacement, economic selections, income tax accounting, engineering evaluation and introduction to the problems of depreciation.

Course Objective

Prerequisites

N/A

Expected Outcomes:

At the conclusion of this course, the students will:

•	Understand the quantitative and qualitative aspects of alternatives
•	Perform economy equivalence calculations using interest rates, formulas and factors
•	Understand the process in selecting interest rates and understand inflation
•	Evaluate mutually exclusive alternatives using present worth, annual worth, benefit-cost, and internal rate-of-return methods
•	Evaluate mutually exclusive alternatives using other methods that do not consider equivalence
•	Perform constrained alternative selections.
•	Perform sensitivity analyses for alternative evaluation
•	Calculate Depreciation and After-Tax Cash Flows
•	Understand the issues with Public-Sector Engineering Economy Analysis
•	Understand probability and uncertainty
•	Understand Cost Estimating