Course overview
This course aims to provide students with necessary knowledge and skills to analyse economic decisions within engineering contexts, utilizing various analytical tools. Building upon concepts of time value of money, the course delves into the economic processes of decision-making, life-cycle cost, and multi-attribute analysis with the consideration of interest, depreciation and taxation. Learners will develop critical thinking and problem-solving skills essential for conducting effective decision analysis. This course provides a comprehensive understanding of engineering economic analysis and be equipped to apply their knowledge and skills to solve complex problems in professional settings, while effectively communicating their analyses and recommendations.
- Fundamentals of Engineering Economic Analysis
- Economic Analysis Techniques
- Economic Evaluations
Course learning outcomes
- Explain the principles of financial accounting and economic decision-making process
- Examine the financial conditions of a manufacturing company
- Analyse different product and service costs and benefits in manufacturing
- Apply appropriate techniques for measuring the equivalent worth of project investments in terms of interest rate, depreciation and taxation
- Demonstrate an effective decision-making process in the presence of multiple attributes, uncertainties, or risks
Availability
Class details
Mawson Lakes
Group 1
Class number 61551
Section FR01
Size 50
Available 49
Class number 61552
Section WS01
Size 50
Available 49
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