1. Course Description

This course provides engineers with the skills to evaluate the costs and benefits of engineering investments, such as product and technology development programs and capital purchases. It also presents how to make rational and intelligent decisions to choose an alternative among others based on the time value of money. This choice is made based on present, future and annual value, and the analysis of the rate of return. Other topics include Cost Estimating and Depreciation Methods. This course emphasizes the analytical analysis of money and its impact on decision making.

2. Course Main Objective

This course aims to provide students with the knowledge to be able to know the principles and techniques of economic analysis in engineering as it is applied in different fields of engineering, to evaluate a single project or to choose among several alternatives.