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Fundamentals of Engineering Economics

Learn the fundamentals of engineering economics with many examples
3.8
3.8/5
(4 reviews)
17 students
Created by

8.7

CourseMarks Score®

9.6

Freshness

8.0

Feedback

7.8

Content

Platform: Udemy
Video: 3h 43m
Language: English
Next start: On Demand

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Detailed Analysis

CourseMarks Score®

8.7 / 10

CourseMarks Score® helps students to find the best classes. We aggregate 18 factors, including freshness, student feedback and content diversity.

Freshness Score

9.6 / 10
This course was last updated on 8/2021.

Course content can become outdated quite quickly. After analysing 71,530 courses, we found that the highest rated courses are updated every year. If a course has not been updated for more than 2 years, you should carefully evaluate the course before enrolling.

Student Feedback

8.0 / 10
We analyzed factors such as the rating (3.8/5) and the ratio between the number of reviews and the number of students, which is a great signal of student commitment.

New courses are hard to evaluate because there are no or just a few student ratings, but Student Feedback Score helps you find great courses even with fewer reviews.

Content Score

7.8 / 10
Video Score: 8.1 / 10
The course includes 3h 43m video content. Courses with more videos usually have a higher average rating. We have found that the sweet spot is 16 hours of video, which is long enough to teach a topic comprehensively, but not overwhelming. Courses over 16 hours of video gets the maximum score.
Detail Score: 9.9 / 10

The top online course contains a detailed description of the course, what you will learn and also a detailed description about the instructor.

Extra Content Score: 5.5 / 10

Tests, exercises, articles and other resources help students to better understand and deepen their understanding of the topic.

This course contains:

0 article.
0 resource.
0 exercise.
0 test.

Table of contents

Description

The need of engineering economy is primarily motivated by the fact that everything in engineering has to be carried out economically and optimally – whether designing an equipment, choosing between alternatives, operating a plant, marketing a product or maintaining a plant, all of which involve a decision-making process. The decision-making process involves the fundamental elements of cash flows of money, time, and interest rates. This course introduces the basic concepts and terminology necessary for an engineer to combine these three essential elements to solve problems that will lead to better decisions. The formulas and techniques used in engineering economics are equally useful in business and for individuals since they are applicable to all types of money matters. In this course you will find the fundamentals of engineering economics explained with video lectures, and many examples that are carefully selected are given and explained to let you practice and understand the concepts very well. This course involves the following three sections:
1- Foundations of Engineering Economy
In this section, you will learn about engineering economics and its role in decision making. Also, you will learn about cash flow diagrams, interest and interest rate, simple interest, and compound interest.
2- Factors: How Time and Interest Affect Money
In this section, you will learn about cash flows that occur in many configurations and amounts—isolated single values, series that are uniform, and series that increase or decrease by constant amounts or constant percentages.
3- Nominal and Effective Interest Rates
In this section, you will learn about interest rates that are compounded more frequently than once a year such as semiannually, quarterly, and monthly. This requires the introduction of two new terms— nominal and effective interest rates. This section explains how to understand and use nominal and effective interest rates. Equivalence calculations for any compounding frequency in combination with any cash flow frequency are presented.

After completing this course, you will be able to understand and work problems that account for the time value of money, cash flows occurring at different times with different amounts, and equivalence at different interest rates. The techniques you master here form the basis of how an engineer in any discipline can take economic value into account in virtually any project environment.

What are you waiting for?
See you in the first lecture!

You will learn

✓ Basics of Engineering Economics.
✓ What is engineering economics and its role in decision making.
✓ Understand cash flows and how to graphically represent them.
✓ Calculate simple and compound interest amounts for one or more time periods.
✓ Perform calculations for interest rates and rates of return.
✓ Use factors for single amounts— compound amount (F/P) and present worth (P/F) factor.
✓ Use factors for uniform series—present worth (P/A) and capital recovery (A/P) factors.
✓ Use factors for uniform series— compound amount (F/A) and sinking fund (A/F) factors.
✓ Use the present worth (P/G) and uniform annual series (A/G) factors for arithmetic gradients.
✓ Use the geometric gradient series factor (P/A,g) to find present worth.
✓ Perform calculations for interest rates that vary over time.
✓ Use equivalence relations to determine i (interest rate or rate of return) or n for a cash flow series.
✓ Understand interest rate statements that include nominal and effective rates.
✓ Determine the effective interest rate for any stated time period.
✓ Determine the payment period (PP) and compounding period (CP) for equivalence computations.
✓ Perform equivalence calculations for single amount cash flows and PP ≥ CP
✓ Perform equivalence calculations for series and gradient cash flows and PP ≥ CP
✓ Perform equivalence calculations for cash flows with PP < CP.
✓ Use the effective interest rate formula for interest rates that are compounded continuously.

Requirements

• None

This course is for

• Engineering students.
• Business students.
• Economics students.
• Anyone who want to learn about the fundamentals of economics.

How much does the Fundamentals of Engineering Economics course cost? Is it worth it?

The course costs $14.99. And currently there is a 40% discount on the original price of the course, which was $24.99. So you save $10 if you enroll the course now.

Does the Fundamentals of Engineering Economics course have a money back guarantee or refund policy?

YES, Fundamentals of Engineering Economics has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

Currently we could not find a scholarship for the Fundamentals of Engineering Economics course, but there is a $10 discount from the original price ($24.99). So the current price is just $14.99.

Who is the instructor? Is Abdullah Mohammed a SCAM or a TRUSTED instructor?

Abdullah Mohammed has created 1 courses that got 4 reviews which are generally positive. Abdullah Mohammed has taught 17 students and received a 3.8 average review out of 4 reviews. Depending on the information available, Abdullah Mohammed is a TRUSTED instructor.
Biomedical Engineer
Hello!

my name is Abdullah, and I am a biomedical engineer. via Udemy platform, my goal is to share knowledge and create high quality courses that could benefit others. Hope I engage students in an effective learning platform and bring up the best in them.

Thank you and all the best.

8.7

CourseMarks Score®

9.6

Freshness

8.0

Feedback

7.8

Content

Platform: Udemy
Video: 3h 43m
Language: English
Next start: On Demand

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