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1、1.Rational decision-making process 1.Recognize a decision problem .认出一个决策问题2.Define the goals or objectives. 定义目标或目标3.Collect all the relevant information. 收集所有相关的信息4.Identify a set of feasible decision alternatives.确定一组可行的决策选择5.Select the decision criterion to use. 选择决策准则来使用6.Select the best altern
2、ative. 选择最好的选择2.Fundamental principles in engineering economics A nearby dollar is worth more than a distant dollar.附近的美元价值超过一个遥远的美元All that counts are the differences among alternatives.所有重要的差别是在备选方案Marginal revenue must exceed marginal cost.边际收益必须超过边际成本Additional risk is not taken without the expe
3、cted additional return.附加险是不采取不预期的额外回报3. The procedure for applying the net-present-worth criterion to a single projectStep 1: determine the MARR .确定 MARR Step 2: estimate the service life of the project.估计项目的使用寿命Step 3: estimate the cash inflow for each period: 估计为每个时期的现金流入Step 4: estimate the cash
4、 outflow for each period 估计为每个时期的现金流出Step 5: determine the net cash flows for each period : 确定每个时期净现金流Step 6: find the present worth of each net cash flow at the MARR. 找到当前价值的每个净现金流量在MARR 下Step 7: evaluate the project with the following decision rule: if PW(i)0,accept the project, if PW(i) 0, 接受该项目,
5、 如果 PW( 我) 0,拒绝这个项目 , 如果 PW( 我)= 0,淡然处之4. 基本名词认识Principal (P) ? Interest rate (i) ? Interest period (n)利息期? Number of interest periods (N)数量的利息期? A plan for receipts or disbursements (An) 一个计划收据或垫付? A future amount of money (F) ? Compound interest复利? Compound-amount factor复利终值系数Present-worth factor现
6、值系数Sinking-fund factor偿债基金因素Capital-recovery factor (Annuity factor) 资本复苏因子 (年金因素 )Present value of perpetuities永续年金的现值P=A/i 5 、 MARR is a function of risk-free real return, inflation factor, and risk premium. Definitions 1-Rate of return is the interest earned on the unpaid balance of an amortized
7、loan.回报率是利息收入在未付的余额上来算贷款的摊销Definitions 2-Rate of return is the break-even interest rate i* at wnich the present worth of a project is zero or PW(i* ) = PWcash inflows - PW cash outflows = 0 回报率是保本利率i* 在 wnich 当前价值的一个项目是零或PW(i*)= PWcash 流入 - PW 现金流出 = 0 Definitions 3-The internal rate of return is th
8、e interest rate charged on the unrecovered project balance of the investment such that , when the project terminates ,the unrecovered project balance is zero .内部收益率是利息未恢复的项目的平衡的投资, 这样 ,当这个项目终止, 未恢复的项目余额是零。6. : i=(1 + r / CK)c 1 M =利息期的数量 / 年; C =利息期的数量每付款期; K =支付的数量每年时期7.A simple investment ：is an i
9、nvestment in which the initial cash flows are negative and only one sign change occurs in the net cash flow series. If the initial flows are positive and only one sign change occurs in the subsequence net cash flow, the flows are referred to as simple-borrowing cash flows. A nonsimple investment ：is
10、 an investment in which more than one sign change occurs in the cash flow series. 一个简单的投资是一种投资,初始现金流是负和只有一个信号变化发生在净现金流量系列。如果初始流是积极的和只有一个信号变化发生在后继净现金流,流被称为简单的借贷现金流。一个复杂投资是一种投资,超过一个标志变化发生在现金流系列。9、名词解释：1 ）Interest rates: refers to the ratio of interest on the amount and period of the loan capital 利率：指一
11、定时期内利息额与借贷资金的比率，2）Nominal interest rates（名义利率）：A stated rate of interest for a given period (usually a year). 3）The CPI is a measure of the general price increase of consumer products 4） Actual dollars （现价）: dollar amounts that reflect the inflation or deflation rate. 5）Constant dollars（不变价） : dolla
12、r amounts that reflect the purchasing power of year zero dollars 6）Interest ：the additional money paid to the lender for borrowing money 7）Annual effective yield （annual interest rate）is the one rate that truly represents the interest earned in a year. 8） Market interest rate： is determined by the capital market supply and demand rates市场利率是指由资金市场上供求关系决定的利率9） Inflation: a decline in purchasing power by rising prices.通货膨胀 : 购买力下降 , 物价上涨10）Deflation: an increase in purchasing power by falling prices.通货紧缩 : 增加购买力下降价格。
