Engineering Economics

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Description of Topic

01Introduction to Economics: Micro and Macro Economics
02Supply and demand theory, supply, and demand equilibrium
03Engineering Economics: Principles of Engineering Economy
04Engineering Economy Methodology
05Steps in Engineering Economic Analysis
06Cost and Value Concepts: Sunk and opportunity costs
07Fixed, variable, and incremental costs
08Recurring and nonrecurring costs, direct, indirect, & overhead costs
09Standard costs, cash versus book costs, life cycle costs
10Value, market value, use value, fair value, book value, salvage value
11Sources of costing information: labor, material, overheads, fixed
12variable cost, absorption costing marginal costing, standard costing
13Inventory Valuation Methods
14Comparing alternatives: Net present value, net present cost
15Cost Benefit analysis, internal rate of return, payback period,
16levelized costs, break-even analysis for capital investment
17Margin of safety application in Master Production Scheduling.
18Depreciation: Types & methods of computing depreciation
19Economic life of equipment and replacement decisions

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