ECONOMY FOR ENGINEERING

وصف المقرر

An "Economy for Engineering" course typically focuses on the economic principles and financial analysis skills that engineers need to make informed decisions in their professional practice. Here's a brief overview:

• Basic Economic Concepts: Understanding supply and demand, cost-benefit analysis, and economic feasibility.

• Role of Engineers: How economic factors influence engineering decisions.

• Interest Rates: Simple and compound interest.

• Present and Future Value: Calculating the present and future value of money for engineering projects.

• Annuities and Cash Flow Analysis: Understanding and applying cash flow models over time.

• Fixed vs. Variable Costs: Differentiating between fixed and variable costs in engineering projects.

• Cost Estimation: Methods for estimating the costs of engineering projects.

• Break-Even Analysis: Determining the point at which a project becomes profitable.

• Internal Rate of Return (IRR): Understanding IRR for investment decision-making.

• Payback Period: Assessing how quickly investments will pay off.

A strong economy begins with a strong, well-educated workforce.

- Bill Owens -