The course unit
emphasizes the systematic evaluation of the costs and benefits associated with
proposed technical projects. The student will be exposed to the concepts of the
“time value of money” and the methods of discounted cash flow. Students are
prepared to make decisions regarding money as capital within a technological or
The course focuses on economic and cost analysis of engineering
projects, giving insights on modern techniques and methods used on economic
feasibility studies relating to design and implementation of engineering
projects. It provides sound understanding of concepts and principles of
engineering economy and to develop proficiency with methods for making rational
decisions regarding problems likely to be encountered in professional practice.
By the end of this
course, the student should be able to:
Outline the principles of engineering
Apply Economics in the field of
Acquire knowledge for project investment
Learn about investment decision analysis
A student on
completing this course is expected to:
the general theory of economics.
the effects of economics on factors of production.
the fiscal and monetary policies affect the