Engineering Economics and Cost Analysis (EM/PME600)

This course covers the fundamentals of engineering economics and basic accounting. It will help students understand how an organization can utilize its capital economically when it makes capital decisions. The three major learning objectives are to understand of the Economics of Engineering, which includes the Time Value of money and the Mathematics of Finance (loans, mortgages, etc). Secondly students need to know how to use Figures of Merit (NPV, IRR, BC etc.) in making engineering design and business decisions. Lastly, students need to master After Tax Analysis (ATA) using the income statement format. These topics are essential to commercialize new technology which is the basis for Technogenesis.