Engineering Economics is a
enables the student to understand the basics of economics and cost analysis related to
engineering so as to take economically sound.
To introduce the concepts of scarcity and efficiency; to
explain principles of micro economics relevant to managing an organization; to
describe principles of macro economics.
objective of main this course is
Describe the concept of engineering economics
Explain the value engineering assessment methods
Understand the worth of an asset by various cash flow diagrams
Understand the replacement and maintenance analysis
Explain the economic alternative investments
are expected to become familiar with both principles of micro and macro
economics. They would also become familiar with application of these principles
to appreciate the functioning of both product and input markets as well as the
the end of this course the student are able to
Demonstrate the concept of engineering economics and classify the elements of
by implementing the value engineering assessment methods
Analyze the worth of an asset by various cash flow
Infer replacement and maintenance analysis to take economically sound decisions
CO5. Evaluate economic alternative investments based on
depreciation and inflation.