INS 301 - Engineering Economics

Course Objectives

Introduction to the concepts of economic analysis and their role in engineering decision making such as engineering costs, time value of money, cash flow models, and comparison of alternatives. Application of analytical methods such as present/future worth analysis, rate of return analysis, benefıt/cost ratio analysis, and replacement analysis to practical engineering problems. Understanding the implications and importance of depreciation, taxes, and inflation in engineering economic problems.

Course Description

Introduction to the concepts of economic analysis and their role in engineering decision making such as engineering costs, time value of money, cash flow models, and comparison of alternatives. Application of analytical methods such as present/future worth analysis, rate of return analysis, benefıt/cost ratio analysis, and replacement analysis to practical engineering problems. Understanding the implications and importance of depreciation, taxes, and inflation in engineering economic problems.