- To introduce the discipline concerned with the economic aspects of engineering; it involves the systematic evolution of the costs and benefits of proposed technical projects.
- To introduce students the principles and methodology of engineering economy which is the integral part of the daily management and operation of private-sector companies and corporations, regulated public utilities, and nonprofit organizations
- It presents mathematical techniques and practical advice for evaluating decisions in the design and operation of engineering systems. These procedures support both selection and justification of design alternatives, operating policies, and capital expenditure.
- The concepts of interest and time value of money; product/project costs and financial statements
- How to evaluate engineering projects with economic decisions using present worth, annual worth and rate of return analyses..
- The impact of depreciation and taxation on
project decisions .
- Teacher: Nagaraj Ashok