Department of Industrial and Manufacturing Engineering - Leading Process and Product Improvement

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IME 3090 - Engineering Economy for Mechanical Engineers


Catalog Description:

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)


Course Objectives, Performance Criteria, and Outcomes:

Course Objectives

ABET-TAC Outcomes2

 

Performance Criteria Measured1

Evaluate multiple alternatives using time value of money techniques f  

None measured
Mechanical Engineering course only

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
i  

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


Textbooks:

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:

Study Guide for Engineering Economic Analysis, Tenth Ed., Prepared by Ed Wheeler, Oxford University Press, ISBN 978-0-19-533624-5.


Course Coordinator:

Bob White
Western Michigan University
E-216 Parkview Campus
Kalamazoo, Michigan 49008-5336
Phone: 276-3379
Email: bob.white@wmich.edu


Revision Date: Summer 2011

 

Department of Industrial and Manufacturing Engineering
Western Michigan University
Kalamazoo MI 49008-5336 USA
(269) 276-3350 | (269) 276-3353 Fax



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Questions: ime-info@wmich.edu