MF-304 ENGINEERING ECONOMICS
CREDIT HOURS
Theory = 2
Practical = 0
COURSE LEARNING OUTCOMES (CLOs)
| S. No. | CLOs | PLO | Taxonomy |
| 1 | Apply techniques of engineering economics to accomplish given objective. | PLO-6 The Engineer and the World |
Cognitive Level 3* |
| 2 | Analyze alternatives using engineering economics indicators independently in evolving engineering applications. | PLO-11 Lifelong Learning |
Cognitive Level 4* |
COURSE CONTENT
- Introduction: Introduction and Principles of Engineering Economics.
- The Economic Environment: Consumer and producer goods, measures of economic worth. price, supply, & demand relationship. Cost Concepts.
- Time Value of Money: Simple interest, compound interest, cash flow diagrams, interest formulas, nominal versus effective interest rate, continuous compounding. Depreciation.
- Comparing Alternatives: Present economy, selection among machines, materials, processes, and designs, payback period method, present worth method, uniform annual cost method, rate of return method, alternatives having identical lives, alternatives having different lives. Cost-Benefit Analysis.
- Linear Programming: Mathematical statement of linear programming problems graphic solution.
RECOMMENDED BOOKS
Text Book(s)
- William Sullivan, Elin Wicks, C Koelling, ‘Engineering Economy’, 17th ed., Pearson, 2018.
- Hamdy Taha, ‘Operations Research: An Introduction’, 11th ed., Pearson, 2022.
*For details of Taxonomy Levels CLICK HERE
