Engineering Economics is one of the rare engineering courses that you can immediately use the material you have learned in your everyday life. You will learn how to evaluate alternatives to choose the most viable option based on engineering economic criteria, you will learn to estimate costs, you will learn to determine the effect of taxes, as well as analyze various alternatives based on the risk that each carry.
As an engineer, regardless of your discipline, you will be working with projects and most likely having to evalutate alternatives. This course will teach you how to evaluate alternatives based on engineering economic criteria.
UW Colleges Catalog Course Description for EGR 282: Engineering Economics - 3 credits: Economic and financial factors in the engineering environment to be considered in managerial decision making. Emphasizes the time value of money, present worth analysis, uniform series, rate of return, benefit cost ratios, depreciation, income taxes, inflation. EL
Prerequisites: MAT 110.
This course is about making decisions with respect to economics. You will learn the process that engineers undertake when making a decision, general estimating techniques that can be used by all types of engineers, and the concept of interest and equivalence. You will then learn to analyze individual projects and ascertain if they are economically feasible.
Upon completion of analyzing individual projects, you will learn to make decisions between multiple alternatives using the three most common engineering economic analysis approaches. You will then learn how depreciation and taxes affect our decision making as well as an introduction to making decisions under risk.
Successful completion of this course will enhance the student's ability to:
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