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Courses » Engineering Economic Analysis

Engineering Economic Analysis

ABOUT THE COURSE:

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. The basic purpose of this course is to provide a 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.

INTENDED AUDIENCE:

Bachelor students in Mechanical/Production/Industrial/Metallurgical/Civil Engineering

PRE-REQUISITES:

Basic Knowledge of economics & mathematics

INDUSTRIES THAT WILL RECOGNIZE THIS COURSE:

NIL

COURSE INSTRUCTOR


Dr Pradeep K. Jha is presently working as Associate Professor in the Department of Mechanical & Industrial Engineering at IIT Roorkee. He has been teaching the course on “Engineering Economy” to 2nd year undergraduate students of the Department for the last six years (a semester every year).


COURSE LAYOUT

Week 1:    Introduction to Engineering Economy, Time value of money, Cash flow diagrams, Interest and Interest rate, Discrete compounding and payment

Week 2:    Interest formulae for discrete compounding and discrete payments- Gradient series factors, Nominal & Effective interest

Week 3:    Economic equivalence, Methods of comparison of alternatives

Week 4:    Replacement analysis, Economic life of the asset

Week 5:    Depreciation and Depletion

Week 6:    Elements of cost, Break even analysis, Economic order quantity,

Week 7:    Cost estimation, Decision under risk and uncertainty

Week 8:    Effect of taxation on economic studies, Income tax analysis


SUGGESTED READING
  • Engineering Economy, (DeGarmo, Sullivan & Canada), Collier Macmillan
  • Engineering Economy, (Thuesen & Fabrycky), Pearson
  • Engineering Economics, (Panneerselvam), PHI
  • Engineering Economic Analysis, (Newnan, Eschenbach & Lavelle), Oxford University Press
  • Engineering Economy, (Blank & Tarquin), McGraw-Hill


CERTIFICATION EXAM

  •     The exam is optional for a fee.
  •     Date and Time of Exams: April 28 (Saturday) and April 29 (Sunday) : Afternoon session: 2pm to 5pm
  •     Exam for this course will be available in one session on both 28 and 29 April. 
  •     Registration url: Announcements will be made when the registration form is open for registrations.
  •     The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published.


CERTIFICATES:

  •  Final score will be calculated as : 25% assignment score + 75% final exam score.
  •  25% assignment score is calculated as 25% of average of  best 6 out of 8 assignments.
  •  E-Certificate will be given to those who register and write the exam and score greater than or equal to 40% final score. Certificate will have your name, photograph and the score in the final exam with the breakup. It will have the logos of NPTEL and IIT ROORKEE. It will be e-verifiable at nptel.ac.in/noc