14-09-2017, 06:22 PM
Engineering economics by r k Hegde book free download PDF
Very very much needed
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engineering economics by rk hegde pdf book download
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Engineering economics by r k Hegde book free download PDF
Very very much needed
15-09-2017, 10:23 AM
Engineering economics, formerly known as engineering economics, is a subset of economy-related use and "... application of economic principles" in the analysis of engineering decisions. As a discipline, it focuses on the branch of economics known as microeconomics in which it studies the behavior of individuals and companies in making decisions about the allocation of limited resources. Therefore, it focuses on the decision-making process, its context and environment. It is pragmatic in nature, integrating economic theory with the practice of engineering. But it is also a simplified application of micro-economic theory to the extent that it avoids a number of micro-economic concepts such as price determination, competition, and demand / supply. However, as a discipline, it is closely related to others, such as statistics, mathematics, and cost accounting. It is based on the logical framework of economics, but adds to that analytical power of mathematics and statistics.
Engineers look for solutions to the problems, and the economic viability of each potential solution is normally considered along with the technical aspects. Fundamentally, engineering economics involves formulating, estimating, and evaluating economic outcomes when alternatives are available to achieve a defined purpose.
In some civil engineering studies programs in the United States, engineering economics is a required course. It is a subject in the Engineering Fundamentals exam, and questions could also be asked in the Engineering Principles and Practice exam; both are part of the Professional Engineering registration process.
Considering the time value of money is fundamental to most engineering economics. Cash flows are discounted using an interest rate, except for the most basic economic studies.
For each problem, there are usually many possible alternatives. An option that should be considered in each analysis, and is often the option, is the alternative to do nothing. The opportunity cost of making a choice over another should also be considered. There are also non-economic factors to consider, such as color, style, public image, etc .; such factors are called attributes.
In some civil engineering studies programs in the United States, engineering economics is a required course. It is a subject in the Engineering Fundamentals exam, and questions could also be asked in the Engineering Principles and Practice exam; both are part of the Professional Engineering registration process.
Considering the time value of money is fundamental to most engineering economics. Cash flows are discounted using an interest rate, except for the most basic economic studies.
For each problem, there are usually many possible alternatives. An option that should be considered in each analysis, and is often the option, is the alternative to do nothing. The opportunity cost of making a choice over another should also be considered. There are also non-economic factors to consider, such as color, style, public image, etc .; such factors are called attributes.
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