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Economic decision making from an engineering perspective. This course is designed to provide undergraduate engineering students with sufficient knowledge to perform engineering economy studies. Topics covered include time value of money, decision making criteria, break-even studies, depreciation and taxes, inflation, and life cycle cost analysis.
Prerequisites & Corequisites: Prerequisite: Recommend MATH 1230.
Credits: 2 hours
Lecture Hours - Laboratory Hours: (2 - 0)
Performance Criteria Measured1
|Evaluate multiple alternatives using time value of money techniques||f||
|Solve real-world problems in engineering cost analysis||f|
|Determine depreciation of a tangible asset using a variety of methods||b|
Calculate income taxes for a corporation or an individual
Performance Criteria1: IME performance criteria may be found at http://www.wmich.edu/ime/performance-criteria.html
ABET-TAC Outcomes2: Outcomes may be found at http://www.abet.org/
*results tracked in ABET course notebooks
Newnan, D.G.; T.G. Eschenbach and J.P. Lavelle; Engineering Economic Analysis, 2009, Tenth Ed., Oxford University Press, www.oup.com, ISBN 978-0-19-533541-5.
Study Guide for Engineering Economic Analysis, Tenth Ed., Prepared by Ed Wheeler, Oxford University Press, ISBN 978-0-19-533624-5.
Western Michigan University
E-216 Parkview Campus
Kalamazoo, Michigan 49008-5336
Revision Date: Summer 2011