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Contemporary Engineering Economics
ISBN: 9780130893109 | 0130893102
Edition: 3rdFormat: Hardcover
Publisher: PRENTICE HALL
Pub. Date: 1/1/2002
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This book is intended for undergraduate engineering students taking the introductory engineering economics course at the university level. The third edition of Contemporary Engineering Economics has been thoroughly revised and updated while continuing to adopt a contemporary approach to the subject, and teaching, of engineering economics. This text aims not only to build a sound and comprehensive coverage of engineering economics, but also to address key educational challenges, such as student difficulty in developing the analytical skills required to make informed financial decisions.
9Most chapters end with a Summary, Self-Test Questions, and Problems.
I. FINANCIAL AND COST INFORMATION.
1. Engineering Economic Decisions.
2. Understanding Financial Statements.
3. Cost Concepts and Behaviors.
The Rational Decision-Making Process. Economic Decisions. Predicting the Future. Role of Engineers in Business. Large-Scale Engineering Projects. Types of Strategic Engineering Economic Decisions.
2. Understanding Financial Statements.
... MORE
3. Cost Concepts and Behaviors.
General Cost Terms. Classifying Costs for Financial Statements. Cost Classification for Predicting Cost Behavior. Cost Concepts Relevant to Decision Making. Thinking on the Margin: Fundamental Economic.
II. MONEY AND INVESTING.
4. Time Is Money.
5. Understanding Money and Its Management.
6. Principles of Investing.
Interest: The Cost of Money. Economic Equivalence. Development of Interest Formulas. Unconventional Equivalence Calculations.
5. Understanding Money and Its Management.
Nominal and Effective Interest Rates. Equivalence Calculations when Payment Periods and Compounding Periods Coincide. Equivalence Calculations when Payment Periods and Compounding Periods Differ. Equivalence Calculations with Continuous Payments. Changing Interest Rates. Debt Management. Amortized Loans.
6. Principles of Investing.
Investing in Financial Assets. Investment Strategies. Investing in Stocks. Investing in Bonds.
III. EVALUATING BUSINESS AND ENGINEERING ASSETS.
7. Present Worth Analysis.
8. Annual Equivalent Worth Analysis.
9. Rate of Return Analysis.
Describing Project Cash Flows. Initial Project Screening Method. Present Worth Analysis. Variations of Present Worth Analysis. Comparing Mutually Exclusive Alternatives.
8. Annual Equivalent Worth Analysis.
Annual Equivalent Criterion. Applying Annual Worth Analysis. Mutually Exclusive Projects. Design Economics.
9. Rate of Return Analysis.
Rate of Return. Methods for Finding Rate of Return. Internal Rate of Return Criterion. Mutually Exclusive Alternatives.
IV. DEVELOPMENT OF PROJECT CASH FLOWS.
10. Depreciation.
11. Corporate Income Taxes.
12. Developing Project Cash Flows.
13. Inflation and Its Impact on Project Cash Flows.
Asset Depreciation. Factors Inherent to Asset Depreciation. Book Depreciation Methods. Tax Depreciation Methods. Depletion. Repairs or Improvements to Depreciable Assets.
11. Corporate Income Taxes.
After-Tax Cash Flow. Corporate Taxes. Tax Treatment of Gains or Losses on Depreciable Assets. Income Tax Rate to be Used in Economic Analysis.
12. Developing Project Cash Flows.
Estimating Cost/Benefit for Engineering Projects. Incremental Cash Flows. Developing Cash Flow Statements. Generalized Cash Flow Approach.
13. Inflation and Its Impact on Project Cash Flows.
Meaning and Measure of Inflation. Equivalence Calculations under Inflation. Effects of Inflation on Project Cash Flows. Rate of Return Analysis under Inflation.
V. SPECIAL TOPICS IN ENGINEERING ECONOMICS.
14. Project Risk and Uncertainty.
15. Replacement Decisions.
16. Capital Budgeting Decisions.
17. Economic Analysis in the Public Sector.
Appendix A. Computing IRR for Nonsimple Investments.
Appendix B. Simulation.
Appendix C. Electronic Spreadsheets: Summary of Built-In Financial Functions.
Appendix D. Interest Factors for Discrete Compounding.
Answers to Self-Test Questions.
Index.
Origins of Project Risk. Methods of Describing Project Risk. Probability Concepts for Investment Decisions. Probability Distribution of NPW. Decision Trees and Sequential Investment Decisions.
15. Replacement Decisions.
Replacement Analysis Fundamentals. Economic Service Life. Replacement Analysis When Required Service Is Long. Replacement Analysis with Tax Considerations.
16. Capital Budgeting Decisions.
Methods of Financing. Cost of Capital. Choice of Minimum Attractive Rate of Return. Capital Budgeting.
17. Economic Analysis in the Public Sector.
Framework of Benefit-Cost Analysis. Valuation of Benefits and Costs. Benefit-Cost Ratios. Analysis of Public Projects Based on Cost-Effectiveness.
Appendix A. Computing IRR for Nonsimple Investments.
Predicting Multiple i*s. Net Investment Test. External Interest Rate for Mixed Investments. Calculation of Return on Invested Capital for Mixed Investments. Trial-and-Error Method for Computing IRR.
Appendix B. Simulation.
Computer Simulation. Model Building. Monte Carlo Sampling. Simulation Output Analysis. Dependent Random Variables.
Appendix C. Electronic Spreadsheets: Summary of Built-In Financial Functions.
Nominal Versus Effective Interest Rates. Single-Sum Compounding Functions. Annuity Functions. Loan Analysis Functions. Bond Functions. Project Evaluation Tools. Depreciation Functions.
Appendix D. Interest Factors for Discrete Compounding.
Answers to Self-Test Questions.
Index.
