IET 3424: Engineering Economy

3 Credit Hours

Prerequisite: MATH 1113 or STAT 1401
Concurrent: MATH 1190 or MATH 1179 AND MATH 1189
As an introduction to the effect of the time value of money, this course will use equivalent annual cost, present worth, internal rates of return, and benefit to cost ratios in making economic analysis. Tax consequences, replacement theory and economic life will be examined in the analysis of engineering problems.