GEN484

Course Description

This course gives students a working knowledge of making economic comparison of investment alternatives in Engineering Project Environment. The course includes the time value of money, methods of comparing alternatives from economic point of view studying rate-of return (ROR), Present Worth (PW), and Annual Equivalent (AE) approaches; breakeven and payback analysis; inflation, depreciation, replacement and cost-benefit analysis, enabling students to make suitable decisions in their professional life when they have to make a decision on an economical basis. This course studies essential economy concepts for engineers such as: Interest and money-time relationship, depreciation, basic concepts and methods for economic analyses and related studies, decision analysis, selection between alternatives and replacement problems and applications related to various construction projects. Ethical and other non-economic issues related to professional economic decisions are discussed.

Course Details