Introduction to Economics: Supply and demand theory, supply and demand equilibrium, micro-and macro-economic analysis
Engineering Economics: Principles of engineering economy, engineering economy methodology, steps in an engineering economic analysis
Cost and Value Concepts: Sunk and opportunity costs, fixed, variable and incremental costs, recurring and non- recurring costs, direct, indirect, and overhead costs, standard costs, cash versus book costs, life cycle costs, value, market value, use value, fair value, book value, salvage value, value addition.
Comparing alternatives: Net present value, net present cost, Cost Benefit analysis, internal rate of return, payback period, levelized costs, break-even analysis applicable to capital investment.
Margin of safety application in Master Production Scheduling.
Depreciation: Types of depreciation, methods of computing depreciation.
Economic life of equipment and replacement decisions.
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/ September 16, 2024