Product Description

For undergraduate, introductory courses in Engineering Economics. Used by engineering students worldwide, this best-selling text provides a sound understanding of the principles, basic concepts, and methodology of engineering economy. Built upon the rich and time-tested teaching materials of earlier editions, it is extensively revised and updated to reflect current trends and issues, with an emphasis on the economics of engineering design throughout. It provides one of the most complete and up-to-date studies of this vitally important field.

Product Details

• Amazon Sales Rank: #392909 in Books
• Published on: 2005-06-03
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 704 pages

Review

"Adopters who want to teach their students how to solve the problems they are likely to encounter on the FE should be happy with Sullivan... Sullivan has passed the test of time for good reasons." — William Shughart, University of Mississippi

"I think that Sullivan et al. is clearer and easier to read than some of the other texts. It sticks to application more than theory and has a lot of examples and problems." — Karen Bursic, University of Pittsburgh

"There is a wealth of end-of-chapter problems that are both well done and written in a way that students, in general, understand what is being asked. The text has proven the test of time and has been honed to a fine edge." — Patrick Knelling, Virginia Polytechnic Institute

From the Publisher
Used by over 500,000 students, this best-selling text provides a sound understanding of the principles, basic concepts, and methodology of engineering economy. Built upon the rich and time-tested teaching materials of earlier editions, it is extensively revised and updated to reflect current trends and issues, with an emphasis on the economics of engineering design throughout. It provides one of the most complete and up to date studies of this vitally important field.

From the Back Cover

Used by engineering students worldwide, this best-selling text provides a sound understanding of the principles, basic concepts, and methodology of engineering economy. Built upon the rich and time-tested teaching materials of earlier editions, it is extensively revised and updated to reflect current trends and issues, with an emphasis on the economics of engineering design throughout.

• Case studies with end-of-chapter questions that encourage writing and critical thinking.
• Fundamentals of Engineering Exam multiple choice questions at the end of each chapter.
• Spreadsheets integrated throughout the text. In particular, many examples include solutions, both hand worked and with spreadsheets, so students can see both techniques side by side. New end-of-chapter spreadsheet problems are included, as well as spreadsheet templates on the student CAD.
• Brief basic review of simple accounting principles.
• Increased emphasis on cost estimating.
• Expanded treatment given to the economic aspects of engineering design.

The spreadsheet examples that accompany each chapter, Appendix A: "Using Excel to Solve Engineering Economy Problems," the Spreadsheet Modeling supplement, and the Expanded Example supplements that appear on the Student CD have been provided by James Alloway. Dr. Alloway has been developing and using spreadsheets since the early 1980s to solve problems and enhance learning in industry, academia, end in his consulting practice. His affiliation with this text began in 1993.

Customer Reviews

A practical guide for the manager
I first used this book as a student-I found it useful then, today I insist that all managers reporting to me review, and use, the concepts and techniques provided by the authors.

The book is useful, in that concepts are well explained, the examples are relevant, but most important for me is that it provides managers who have little or no experience in determining project costs with a handy means (including formulae and worked examples) of doing so.

I have tried to get copies of the most recent edition, the popularity seems to be such that the book is sold out. I most readily recommend this to anyone who needs to justify capital expenditure, who needs to do project costing, and who has to prepare proposals for submission to the boss (or the board of directors)in order to obtain funds for capital expansion, refurbishment or simply equipment upgrades.

Useful to the student and the professional
Just as engineers must accurately model technical solutions to a problem, they must also model the economic impact of those technical solutions. This is a very good book for both the engineering student and the practicing engineer. Unlike many texts on straight economics, it is not just filled with narrative. It has many well-explained formulas and examples using those formulas throughout. The numerous exercises included throughout the book involve open-ended problem statements and iterative problem-solving skills, which are the real-world skills you'll need on the job. Various engineering disciplines are presented. FE exam-style questions have been added to help prepare engineering students for that milestone examination. Passing the FE exam is a first step in getting licensed as a "Professional Engineer" or PE. A good companion to this book is the Schaum's Outline on Engineering Economics. This is one of those textbooks where having the latest edition is really better, since the laws of finance are man-made and do change over time. The following is the table of contents for the latest edition:

FUNDAMENTALS OF ENGINEERING ECONOMY.
1. Introduction to Engineering Economy.
2. Cost Concepts and Design Economics.
3. Money-Time Relationships and Equivalence.
4. Applications of Money-Time Relationships.
II. ENGINEERING ECONOMY IN ACTION.
5. Applications of Money-Time Relationships.
6. Comparing Alternatives.
7. Depreciation and Income Taxes.
8. Price Changes and Exchange Rates.
9. Replacement Analysis.
10. Dealing with Uncertainty.
III. ADDITIONAL TOPICS IN ENGINEERING ECONOMY.
11. Evaluating Projects with the Benefit/Cost Ratio Method.
12. Engineering Economy Studies in Investor-Owned Utilities.
13. Probabilistic Risk Analysis.
14. Capital Financing and Allocation.
15. Dealing with Multiattributed Decisions.
Appendixes.

Engineering Economy

This is a well written book. The examples are very helpful. I have been learning the material with no external instruction, only the book.