Computational Economic Analysis for Engineering and Industry

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More About This Textbook

Overview

Recent global anxiety indicates that more focus needs to be directed at economic issues related to industry. Conventional techniques often do not adequately embrace the integrated global factors that affect unique industries and industry focused computational tools have not been readily available. Until now. Computational Economic Analysis for Engineering and Industry presents direct computational tools, techniques, models, and approaches for economic analysis with a specific focus on industrial and engineering processes.

Here are just a few of the topics you'll find:

  • New economic analysis models and techniques
  • Tent-shaped cash flows
  • Industrial economic analysis
  • Project-based economic measures
  • Profit ratio analysis
  • Equity break-even point
  • Utility based analysis
  • Project-balance analysis
  • Customized ENGINEA software tool
  • Engineering conversion factors

The authors supply downloadable software, ENGINEA, that allows you to easily perform the various techniques outlined in the text, such as investment justification, breakeven analysis, and replacement analysis. Providing a high-level presentation of economic analysis of the unique aspects of industrial processes, they integrate mathematical models, optimization, computer analysis, and managerial decision processes. A comprehensive treatment of economic analysis considering the specific needs of industry, the book is a pragmatic alternative to conventional economic analysis books.

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Product Details

  • ISBN-13: 9780849374777
  • Publisher: CRC Press
  • Publication date: 6/15/2007
  • Series: Industrial Innovation Series , #3
  • Pages: 304
  • Product dimensions: 6.10 (w) x 9.30 (h) x 0.80 (d)

Table of Contents

APPLIED ECONOMIC ANALYSIS
Cost- and Value-Related Definitions
Economics of Worker Assignment
Economics of Resource Utilization
Minimum Annual Revenue Requirement (MARR) Analysis

COST CONCEPTS AND TECHNIQUES
Project Cost Estimation
Cost Monitoring
Project Balance Technique
Cost and Schedule Control Systems Criteria
Sources of Capital
Commercial Loans
Bonds and Stocks
Interpersonal Loans
Foreign Investment
Investment Banks
Mutual Funds
Supporting Resources
Activity-Based Costing
Cost, Time, and Productivity Formulas
Practice Problems for Cost Concepts and Techniques

FUNDAMENTALS OF ECONOMIC ANALYSIS
The Economic Analysis Process
Simple and Compound Interest Rates
Investment Life for Multiple Returns
Nominal and Effective Interest Rates
Cash-Flow Patterns and Equivalence
Compound Amount Factor
Present Worth Factor
Uniform Series Present Worth Factor
Uniform Series Capital Recovery Factor
Uniform Series Compound Amount Factor
Uniform Series Sinking Fund Factor
Capitalized Cost Formula
Permanent Investments Formula
Arithmetic Gradient Series
Increasing Geometric Series Cash Flow
Decreasing Geometric Series Cash Flow
Internal Rate of Return
Benefit/cost ratio
Simple Payback Period
Discounted Payback Period
Fixed and Variable Interest Rates
Practice Problems for Fundamentals of Economic Analysis

ECONOMIC METHODS FOR COMPARING INVESTMENT ALTERNATIVES
Net Present Value Analysis
Annual Value Analysis
Internal Rate of Return Analysis
Incremental Analysis
Guidelines for Comparison of Alternatives
Practice Problems: Comparing Investment Alternatives

ASSET REPLACEMENT AND RETENTION ANALYSIS
Considerations for Replacement Analysis
Terms of Replacement Analysis
Economic Service Life (ESL)
Replacement Analysis Computation
Practice Problems for Replacement and Retention Analysis

DEPRECIATION METHODS
Terminology of Depreciation
Depreciation Methods
Practice Problems: Depreciation Methods

Break-even analysis
Profit Ratio Analysis
Practice Problems: Break-Even Analysis

EFFECTS OF INFLATION AND TAXES
Mild Inflation
Moderate Inflation
Severe Inflation
Hyperinflation
Foreign-Exchange Rates
After-Tax Economic Analysis
Before-Tax and After-Tax Cash Flow
Effects of Taxes on Capital Gain
After-Tax Economic Analysis
Practice Problems: Effects of Inflation and Taxes

ADVANCED CASH-FLOW ANALYSIS TECHNIQUES
Amortization of Capitals
Introduction to Tent Cash-Flow Analysis
Special Application of AGS
Design and Analysis of Tent Cash-Flow Profiles
Derivation of General Tent Equation

MULTIATTRIBUTE INVESTMENT ANALYSIS AND SELECTION
The Problem of Investment Selection
Utility Models
The Analytic Hierarchy Process
Investment Benchmarking
References

BUDGETING AND CAPITAL ALLOCATION
Top-Down Budgeting
Bottom-Up Budgeting
Mathematical Formulation of Capital Allocation

THE ENGINEA SOFTWARE: A TOOL FOR ECONOMIC EVALUATION
The ENGINEA Software
The Excel Spreadsheet Functions
Reference

COST BENCHMARKING CASE STUDY
Abstract
Introduction
Basis of the Methodology
Evaluation Baselines
Data Collection Processes
Analysis of the Factors
Conclusions and Recommendations
Reference

Appendix A: Definitions and Terms
Appendix B: Engineering Conversion Factors
Appendix C: Computational and Mathematical Formulae
Appendix D: Units of Measure
Appendix E: Interest Factors and Tables
Index

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