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Need Summary of engineering economics course

Need Summary of engineering economics course

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The crux of engineering economics is basically supposed to emphasize on the systematic assessment of the proposed costs and benefits of a particular technical project. The tools of economics that are used to analyse the decision making process are taught to come handy in engineering analysis. Particular topics include but is not restricted to rate of return, net present value, cost benefit analysis and multi variable objective funtion. The main objective of this course is to apply the methods of economics in engineering decisions to reach at output maximising cost minimising solutions. It derives the core principles from microeconomics.

The syllabus and course structrue will vary from institute to institute but the fundamentals stay unaltered.

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