ENGINEERING ECONOMY AND SYSTEM ANALYSIS (4 Credits)
Learning Outcomes:
On successful completion of this course, student will be able to: Explain basic engineering economy to calculate the time value of money, different between present and future worth, interest rate, Apply investment decision criteria by using economic decisions (present worth, future worth, IRR, NPV, and Payback Analysis), Apply simple data collection and analysis techniques in a broad range of industrial system engineering problems, Analyze selected systems engineering problems by applying tools, methodologies, and procedures
Topics:
- Foundation of Engineering Economics
- Nominal and Effective Interest Rate
- Present Worth Analysis
- Future Worth and Annual Worth Analysis
- Economic Decision (Rate of Return (ROR), Benefit/Cost, Break Event, and Payback Analysis)
- The System Design Process
- Optimization in Design and Operation
- Design for Usability (human Factors)
- Design for Logistics and Supportability
- Systems Engineering, Planning and Organization
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