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Designed as a textbook for undergraduate students in various engineering disciplines—Mechanical, Civil, Industrial Engineering, Electronics Engineer-ing and Computer Science—and for postgraduate students in Industrial Engineering and Water Resource Management, this comprehensive and well-organized book, now in its Second Edition, shows how complex economic decisions can be made from a number of given alternatives. It provides the managers not only a sound basis but also a clear-cut approach to making decisions. These decisions will ultimately result in minimizing costs and/or maximizing benefits. What is more, the book adequately illustrates the concepts with numerical problems and Indian cases. While retaining all the chapters of the previous edition, the book adds a number of topics to make it more comprehensive and more student friendly. What’s New to This Edition • Discusses different types of costs such as average cost, recurring cost, and life cycle cost. • Deals with different types of cost estimating models, index numbers and capital allowance. • Covers the basics of nondeterministic decision making. • Describes the meaning of cash flows with probability distributions and decision making, and selection of alternatives using simulation. • Discusses the basic concepts of Accounting. This book, which is profusely illustrated with worked-out examples and a number of diagrams and tables, should prove extremely useful not only as a text but also as a reference for those offering courses in such areas as Project Management, Production Management, and Financial Management.
This substantially revised and updated edition of Engineering Economics and Costing continues to build on the fundamental principles and applications of the subject. Divided into three parts: Part I, Engineering Economics; Part II, Financial System; and Part III, Cost Accounting, the text discusses, in a simple and easy-to-understand language, such topics as interest formulas and their applications, and various methods, for example, the present worth method of comparison, future worth method, annual equivalent method, and the rate of return method. It also includes, in its Appendix, interest tables for a wide range of interest rates (0.25-50%) and for a period ranging from one year to 100 years. These tables, along with the topics discussed, will help students of both Engineering and MCA in evaluating engineering projects. What is New to This Edition: Chapter 2 gives a distinction between Microeconomics and Macroeconomics. Chapter 2 also explains the concept of income elasticity, cross elasticity of demand, and elasticity of substitution. At the end Chapter 3, a variety of simple numerical problems with solutions are given to illustrate the concepts discussed. Chapter 8 provides more examples illustrating the various aspects of break-even analysis. While the book is intended primarily as a text for B.Tech. and MCA courses of Biju Patnaik University of Technology (BPUT), Orissa, it would also be highly useful for BE/B.Tech. students of other universities/institutes. Besides, practising engineers and project consultants making economic decision analysis would find this well-organized book immensely valuable. What the Reviewer Says: The book is very clear in exposition of the concepts and theories of Economics. I am confident that it will be extremely helpful to the engineering students. --Dr. NIRMAL CHANDRA SAHU Professor, Postgraduate Department of Economics Berhampur University, Orissa
The book has been written to conform to the syllabi requirement of the Indian technical universities. It meets the needs of engineering students who have to consider and evaluate economic and financial aspects of alternatives before them. Relevant accounting and economic concepts and their use have been explained in precise, adequate and easily comprehensible manner. Each topic covered in it is self-contained and obviates the need for additional reading. There are a large number of solved illustrative examples as also addenda of learning objectives, key words and review questions. Since an engineering economist uses several conversion factors involving time placements, an appendix has been provided explaining the symbols representing these conversion factors, the formulas used for calculating them, together with some illustrative tables.
The book will help the students to understand variety of economics and sociological issues and concepts. It shall provide to them an insight and knowledge to understand the impact of developments in business and society. The book will meet the requirements of the engineers to evaluate the comparison of alternatives that involve spending money and their likely outcomes.
The fourth edition of this text has streamlined the material into 15 chapters. The sequence flows through fundamentals required for economic analysis, structural procedures for performing those analyses, specific considerations for the public sector, depreciation and income tax considerations, inflation considerations, advanced concepts, including risk and decision. An emphasis on a clear writing style with numerous examples and review exercises offsets traditional ideas that the subject matter can be dull.
Biology is an important part of engineering analysis and design, and it is important that students in engineering programs, as well as ecologists and environmentalists, become well-acquainted with the fundamentals of biology as they relate to their field. This is the first book on the subject designed specifically for students of BTech and BE courses, as the subject has now been introduced to the syllabus.
Engineering Economics: Financial Decision Making for Engineers¿ is designed for teaching a course on engineering economics to match engineering practice today. It recognizes the role of the engineer as a decision maker who has to make and defend sensible decisions. Such decisions must not only take into account a correct assessment of costs and benefits, they must also reflect an understanding of the environment in which the decisions are made. The 5th edition has new material on project management in order to adhere to the CEAB guidelines as well the new edition will have a new spreadsheet feature throughout the text.
Due to its simple language, straightforward approach to explaining concepts, and the right kind of examples, this book has established itself as student's companion in almost all leading universities in India. With its authentic text and a large number of questions taken from various university examinations, coupled with regular revisions, the book has served well for more than 20 years now. In the attempt to keep the book aligned with various syllabuses and to reach out to students of more and more universities, more details have been included for the fourth edition, which has been completely recast and reformatted. The book is meant for the first year engineering degree courses of Indian universities. STRENGTH OF THE BOOK • Numerous solved problems • Large number of questions from various universities for exhaustive practice • Boxes featuring important and popular aspects of the topic NEW IN THE FOURTH EDITION • Completely recast and reformatted text • New topics like: Cooling curves for one- and two-component eutectics; Electrode polarization and overvoltage; Decomposition potential; Solar cells; Pitting corrosion; Metallurgy and medicine; Reverse osmosis; Bioengineering.
Appropriate for one- or two-semester Advanced Engineering Mathematics courses in departments of Mathematics and Engineering. This clear, pedagogically rich book develops a strong understanding of the mathematical principles and practices that today's engineers and scientists need to know. Equally effective as either a textbook or reference manual, it approaches mathematical concepts from a practical-use perspective making physical applications more vivid and substantial. Its comprehensive instructional framework supports a conversational, down-to-earth narrative style offering easy accessibility and frequent opportunities for application and reinforcement.