Engineering economics - 2014
| Class date(s): | 08 September 2014 onwards | ||||
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Selected references
The following printed materials have influenced the course content. In alphabetical order:
| Author(s) | Title | Library link | Google search for ISBN | Amazon link for ISBN |
|---|---|---|---|---|
| Blank and Tarquin | Engineering Economy (7th edition, or earlier) | McMaster | Amazon | |
| Fraser et al. | Engineering Economics in Canada (3rd edition, or earlier) | McMaster | Amazon | |
| Fraser et al. | Global Engineering Economics (4th edition, or earlier) | McMaster | Amazon | |
| Park, Zuo and Pelot | Contemporary Engineering Economics, a Canadian perspective (3rd edition, or earlier) | McMaster | NA | |
| Peters and Timmerhaus | Plant Design and Economics for Chemical Engineers | McMaster | Amazon | |
| Stermole and Stermole | Economic Evaluation and Investment Decision Methods (13th edition, or earlier) | NA | Amazon | |
| Turton et al. | Analysis, Synthesis and Design of Chemical Processes (4th edition, or earlier) | McMaster | Amazon | |
| Woods, Donald | Cost Estimation for the Process Industries (McMaster download, 30 Mb) | NA | NA | NA |
Readings and resources
- The slides from the 2013 class are available for those that want to read ahead. I'm modifying the slides somewhat from last year, but feel free to go through the 2013 ones if you want.
Class slides, videos, and other resources
| Date | Class number | Topic | Slides for class | Video and audio files | References and Notes | |
|---|---|---|---|---|---|---|
| 08 September | 02A |
In this class we give an overview of the "Engineering Economics" section of the course. We start by introducing the topic of the time-value of money. |
Slides | Video | Audio |
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| 10 September | 02B |
We looked at the investing point of view last class; in this class we look at the inflationary viewpoint and why money in the future is worth less in today's terms. |
Slides | Video | Audio |
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| 12 September | 02C |
We looked at an example the considered the time value of money; then discussed various criteria related to assessing an investment. Our focus in the next class is more detail around these "profitability metrics" |
Slides | Video | Audio |
We will be covering not only engineering economics in 4N, but also a bit of "personal economics".
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| 15 September | 03A |
We looked at what NPV means and how you can explain it to someone else. Details around payback time, and the minimum acceptable rate of return (MARR) were discussed. |
Slides | Video | Audio |
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