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Engineering Economics ENG 2B03

This course covers the essential principles of Engineering Economics, emphasizing decision-making in financial ventures, personal financing, and project investments. Students will learn to analyze production and operational costs while assessing the financial attractiveness of various projects. Topics include cost estimating, sustainability, social responsibility, and the ethics of engineering practices. Key areas such as cost categories, accuracy of estimates, and valuation methods will be examined, enhancing students' competencies in both economic analysis and sustainable practices relevant in modern engineering.

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Engineering Economics ENG 2B03

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  1. Engineering Economics ENG 2B03

  2. Calendar Description • Engineering criteria for decision-making. Money flow. Financial ventures. Personal financing. Total project investment. Production and operations costs. Economic analysis. Financial attractiveness. • Anti-Requisites • CIV ENG 3RR3 • CHEM ENG 4N04

  3. Assessment

  4. New Components • Sustainability • Ethics • Cost Estimating • Valuating Environmental and Social Costs

  5. Cost Estimating • Week 12 Topics: • Categories of Cost • Accuracy • Sources of Information • Special Considerations • Types of Estimates • Order of Magnitude to Definitive Estimates • Estimating Models • Per-Unit Model (Unit Technique) • Cost Indexes • Power-Sizing Model • Improvement and the Learning Curve

  6. Sustainability • Week 1 Topics: • Sustainability Competencies for Graduates of Engineering Programs • The Triple Bottom Line • Case Studies: Interface Carpets and ING Headquarters

  7. Sustainability • Week 8 Topics: • Defining Social Responsibility • Sustainability and Ethics • Definition of Ethics • Four Ethical Theories • Whistleblowing

  8. Sustainability • Week 13 Topics: • Exxon Valdez vs. BP Oil Spill • Types of Environmental Benefits • Valuation Methods • Travel cost method • Hedonic pricing • Contingent valuation • Life-Cycle Cost Analysis

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