9780131354579 - Fundamentals of Engineering Economics: International Edition von Park, Chan S. (2 Ergebnisse)

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Softcover. Zustand: gut. Auflage: 2nd International edition. This work offers a concise, but in-depth coverage of all fundamental topics of engineering economics. For Engineering Economics courses, found in departments of Industrial, Civil, Mechanical, and Electrical Engineering. From the author of the best-selling Contemporary Engineering Economics text, Fundamentals of Engineering Economics offers a concise, but in-depth coverage of all fundamental topics of Engineering Economics. Chan S. Park is currently a Professor of Industrial and Systems Engineering at Auburn University. He received the M.S. and Ph.D. degrees in industrial engineering from Purdue University and the Georgia Institute of Technology, respectively. Over his 25-year academic career, he has been actively involved in a variety of areas of research, teaching, and professional consulting. His work has been recognized internationally in the fields of engineering economics, strategic and economic decisions within service sectors, financial engineering (real options valuation), risk analysis, and capital budgeting. He also authored or coauthored leading textbooks on the related subjects, including Contemporary Engineering Economics (Prentice Hall), and Advanced Engineering Economics (John Wiley & Sons). He is the Editor-in-Chief of the journal The Engineering Economist and is a licensed Professional Engineer. Content: PART 1 UNDERSTANDING MONEY AND ITS MANAGEMENT 1 Chapter 1 Engineering Economic Decisions 2 1.1 The Rational-Decision-Making Process 4 1.1.1 How Do We Make Typical Personal Decisions? 4 1.1.2 How Do We Approach an Engineering Design Problem? 7 1.1.3 What Makes Economic Decisions Different from Other Design Decisions? 10 1.2 The Engineer's Role in Business 10 1.2.1 Making Capital-Expenditure Decisions 10 1.2.2 Large-Scale Engineering Economic Decisions 11 1.2.3 Impact of Engineering Projects on Financial Statements 13 1.3 Types of Strategic Engineering Economic Decisions 14 1.4 Fundamental Principles in Engineering Economics 18 Summary 19 Chapter 2 Time Value of Money 20 2.1 Interest: The Cost of Money 22 2.1.1 The Time Value of Money 22 2.1.2 Elements of Transactions Involving Interest 24 2.1.3 Methods of Calculating Interest 26 2.2 Economic Equivalence 28 2.2.1 Definition and Simple Calculations 28 2.2.2 Equivalence Calculations Require a Common Time Basis for Comparison 31 2.3 Interest Formulas for Single Cash Flows 33 2.3.1 Compound-Amount Factor 33 2.3.2 Present-Worth Factor 35 2.3.3 Solving for Time and Interest Rates 38 2.4 Uneven-Payment Series 40 2.5 Equal-Payment Series 42 2.5.1 Compound-Amount Factor: Find F, Given A, i, and N 43 2.5.2 Sinking-Fund Factor: Find A, Given F, i, and N 47 2.5.3 Capital-Recovery Factor (Annuity Factor): Find A, Given P, i and N 49 2.5.4 Present-Worth Factor: Find P, Given A, i, and N 52 2.5.5 Present Value of Perpetuities 57 2.6 Dealing with Gradient Series 57 2.6.1 Handling Linear Gradient Series 58 2.6.2 Handling Geometric Gradient Series 64 2.7 Composite Cash Flows 68 Summary 72 Problems 73 Chapter 3 Understanding Money Management 86 3.1 Market Interest Rates 87 3.1.1 Nominal Interest Rates 88 3.1.2 Annual Effective Yields 88 3.2 Calculating Effective Interest Rates Based on Payment Periods 91 3.2.1 Discrete Compounding 91 3.2.2 Continuous Compounding 92 3.3 Equivalence Calculations with Effective Interest Rates 94 3.3.1 Compounding Period Equal to Payment Period 94 3.3.2 Compounding Occurs at a Different Rate than That at Which Payments Are Made 97 3.4 Debt Management 100 3.4.1 Borrowing with Credit Cards 100 3.4.2 Commercial Loans--Calculating Principal and Interest Payments 102 3.4.3 Comparing Different Financing Options 106 Summary 111 Problems 111 Chapter 4 Equivalence Calculations under Inflation 126 4.1 Measure of Inflation 127 4.1.1 Consumer Price Index 128 4.1.2 Producer Price Index 129 4.1.3 Average Inflation Rate (f) 130 4.1.4 General Inflation Rate (f) versus Specific Inflation (fj) 132 4.2 Actual versus Constant Dollars 134 4.2.1 Conversion from Constant to Actual Dollars 135 4.2.2 Conversion from Actual to Constant Dollars 136 4.3 Equivalence Calculations under Inflation 1404.3.1 Market and Inflation-Free Interest Rates 141 4.3.2 Constant-Dollar Analysis 141 4.3.3 Actual-Dollar Analysis 141 4.3.4 Mixed-Dollar Analysis 146 Summary 149 Problems 150 PART 2 EVALUATIING BUSIINESS AND ENGIINEERIING ASSETS 159 Chapter 5 Present-Worth Analysis 160 5.1 Loan versus Project Cash Flows 162 5.2 Initial Project Screening Methods 163 5.2.1 Benefits and Flaws of Payback Screening 166 5.2.2 Discounted-Payback Period 167 5.3 Present-Worth Analysis 168 5.3.1 Net-Present-Worth Criterion 168 5.3.2 Guidelines for Selecting a MARR 172 5.3.3 Meaning of Net Present Worth 175 5.3.4 Net Future Worth and Project Balance Diagram 177 5.3.5 Capitalized-Equivalent Method 180 5.4 Methods to Compare Mutually Exclusive Alternatives 182 5.4.1 Doing Nothing Is a Decision Option 182 5.4.2 Service Projects versus Revenue Projects 183 5.4.3 Analysis Period Equals Project Lives 184 5.4.4 Analysis Period Differs from Project Lives 186 Summary 192 Problems 192 Chapter 6 Annual Equivalence Analysis 208 6.1 Annual Equivalent Worth Criterion 210 6.1.1 Benefits of AE Analysis 214 6.1.2 Capital (Ownership) Costs versus Operating Costs 214 6.2 Applying Annual-Worth Analysis 218 6.2.1 Unit-Profit or Unit-Cost Calculation 218 6.2.2 Make-or-Buy Decision 221 6.3 Comparing Mutually Exclusive Projects 224 6.3.1 Analysis Period Equals Project Lives 224 6.3.2 Analysis Period Differs from Project Lives 229 Summary 232 Problems 232 Chapter 7 Rate-of-Return Analysis 248 7.1 Rate of Return 250 7.1.1 Return on Investment 250 7.1.2 Return on Invested Capital 251 7.2 Methods for Finding Rate of Return 252 7.2.1 Simple versus Nonsimple Investments 252 7.2.2 Computational Methods 254 7.3 Internal-Rate-of-Return Criterion 260 7.3.1 Relationship to the PW Analysis 260 7.3.2 Decision Rule for Simple Investments 261 7.3.3 Decision Rule for Nonsimple Investments 265 7.4 Incremental Anal.