602-What Every Engineer Should Know About Engineering Economic Analysis, Part II
By: O. Geoffrey Okogbaa, Ph.D., PE
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Course Objective
This continuing education course is written specifically for professional engineers with the objective of relating to and enhancing the practice of engineering.
Course Description
This course is sequel to course, “What Every Engineer should Know about Engineering Economic Analysis I”. In that course we examined some of the basic principles and underlying assumptions of Engineering Economic Analysis. However, in this course, our focus is on some of the fundamental issues that make it easy to transition from the basic concepts developed in the earlier course to more robust and complex issues that undergird the framework of Engineering Economic Analysis. These fundamental issues build upon the basic principles and assumptions to form the building blocks that are central to understanding the subject matter of Engineering Economic Analysis.
No unnecessary assumptions were made, and every formula was developed from first principles so that the engineer would feel comfortable that they at least can see and know where the formulas came from. We were careful to provide the formulas for the computation of the interest factors since we did not provide any interest tables.
The questions on quiz were ALL taken from the course material, every single one. So, there are no magic or tricky questions because we developed this as a hands-on practical course for the Professional Engineer.
We hope that the Professional Engineer would be excited to have a ready reference for this important topic of Engineering Economic Analysis.
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