INS 301 - Engineering Economics

Course Objectives

1. To provide students with a sound understanding of the principles and basic concepts of construction economy.
2. To help students develop skills for applying the basic concepts to engineering problems.
2. To help students develop skills for finding the most economical solution among the alternatives in engineering 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.