Develop essential engineering skills with expert instruction and practical examples.
This course consists of fundamentals of engineering economy, the basic principles of the time value of money, drawing the cash-flow diagrams different interest rates i. e. , simple, compound, MARR, ROR, nominal and effective, comparing economic alternatives based on equivalent present worth (PW), future worth (FW), annual worth (AW), Using of depreciation methods related to machines/projects and Performing replacement and breakeven, Performing calculations according to both nominal and effective interest rate.
By the end of this course, the learner will be able to:Understand Fundamentals of Engineering Economics. Understand the Time Value of Money. Understand Importance of Engineering Economics Study.
Understand The Role Engineering Economic in decision making. How to draw and read Cash Flow Diagrams (CFD). Understand interest rate (IR), Rate Of Return (ROR) Return on Investment (ROI).
Differentiate between simple and compound interest amounts. Understand The meaning of the present, future, and annual flows. Derive the relationships between the present, future, and annual flows.
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