Description
Book SynopsisThis must-have textbook for students in mechanical, civil, and electrical engineering departments addresses issues not sufficiently covered by existing engineering economics texts. Clearly presenting fundamental concepts that engineering students need to master in one semester, the author effectively applies an incremental learning method, starting with resolving personal financial matters and gradually progressing to the complexities of engineering economic calculations. Ample practical examples and exercises with answers at the end of each chapter teach students to solve problems using Microsoft Excel without the need for calculus. Future engineers also will gain valuable skills such as the ability to effectively communicate the results of their analyses to financial professionals.
Applied Engineering Economics Using ExcelBy Merwan B. Mehta This is one of the most innovative textbooks for teaching the fundamentals of engineering economi
Trade ReviewApplied Engineering Economics Using ExcelBy Merwan B. Mehta This is one of the most innovative textbooks for teaching the fundamentals of engineering economics. Written clearly and concisely to allow a firm grasp of the concepts, this is a noncalculus-based book geared toward teaching undergraduate and graduate students with a wide range of technical backgrounds. It also is an excellent reference for students seeking a refresher course on the subject or for others interested in applying core principles to evaluating projects in the workplace.
Engineering economics can be described as a course for life. The book exemplifies this point of view by including many real-world examples that are useful in making decisions to benefit an organization, individual, or society. Each of the eleven chapters begins with a list of the concepts to be discussed, and these are built upon incrementally and are supported by gradually increasing the complexity of the exercises.
Merwan Mehta's approach is practical in nature, emphasizing the application of technology for problem solving, yet comprehensive enough to prepare students for future managerial roles that involve capital project decision-making. Educators who emphasize learning through problem-solving will find this book to be an invaluable resource in the classroom. It will be a keeper for many students who have the privilege of using it in a university course.
Overall, I felt that this was not just another textbook on engineering economy, but a practical guide and resource with a great deal of utility. I recommend it as a necessary addition to the library of anyone who has or will have the responsibility of evaluating and justifying technology and engineering projects to benefit a private enterprise or the public sector.
-- Jeanne-Marie Lawrence, Teaching Instructor at East Carolina University
Table of ContentsCh.1: Introduction to Engineering Economics; Ch.2: Interest and Financial Equivalence; Ch. 3: Cash Flow Diagrams and Time Value of Money; Ch. 4: Cash Flow Series and Net Present Value; Ch. 5: Nominal and Effective Interest Rates; Ch. 6: Project Justification; Ch. 7: Sensitivity Analysis; Ch. 8: Amortization, Depreciation, and Income Taxes; Ch. 9: Creating Realistic Project Cash Flows; Ch. 10: Choosing Best Option from Multiple Projects; Ch. 11: Cost Benefit Analysis for Public Projects.
