ADMA 385 Engineering Economy

This course introduces economic analysis from an engineering/manufacturing and personal finance perspective involving cost concepts (i.e., total revenue, profit, etc.) as well as the time value of money concept with equivalence involves present, future, and uniform series cash flows.  The student will learn how to handle various economic scenarios involving the evaluation of both single and mutually exclusive alternative projects/products utilizing present worth, future worth, annual worth, internal rate of return, payback methods, and cost-benefit analysis.  In addition, the student will learn how to interpret job offer letters (i.e., salaries and benefit packages) such that they are prepared to understand their own financial situation/status as they start their career pathways in advanced manufacturing after graduation.